Global Reusable Water Bottles Market: Overview
As compared to bottled water, the reusable water bottles are preferred more for the hydration purposes in several parts of the world. Such preference is primarily owing to eco-friendly and refillable properties of the reusable water bottles. The global reusable water bottles market is likely to witness substantial growth over the timeframe of forecast.
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The global reusable water bottles market has been segmented on the basis of material type, distribution channel, and region. The sole purpose of this study is to provide a deep insight into the market.
Global Reusable Water Bottles Market: Notable Developments
The global reusable water bottles market has come across many developments over the last few years. These market developments suggest a trend and give an idea about the growth factors of the global reusable water bottles market. One of many such development is mentioned below:
- In November 2018, Middleton Partners owned Maurice Sporting Goods has made acquisition of Chicago-based O2COOL, LLC. The latter manufactures outdoor accessories, water-cooling hydration bottles, and portable fans. Following this acquisition, Middleton Partners is planning to make use of the synergies of O2COOL, LLC and expand its product portfolio.
Some of the key market players of the global reusable water bottles market are
- Nalge Nunc International Corporation
- Camelbak Products, LLC
- Tupperware Brands Corporation
- Thermos L.L.C.
- Zhejiang Haers Vacuum Containers Co. Ltd.
- Newell Brands
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Global Reusable Water Bottles Market: Growth Drivers
Increased Need to Reduce Carbon Footprint in the Environment Bolsters its Demand
The global reusable water bottles market is likely to prosper on the back of the initiatives taken to save the planet from the harmful effects plastic. As per an estimation, a reusable water bottle needs to be used on an average of 80 times before obtaining a carbon footprint that is lower than that of single use ones.
The global reusable water bottles market is also impacted by the hectic lifestyle of the people. In addition, rapid urbanization is another significant factor of growth for the market in the years to come. Consumers are slowly shifting away from the traditional water bottles and are taking up smart reusable bottles. These smart bottles not only quench thirst for water but also are easy to carry. The reasons for the popularity of such water bottles lie in the smart features of those reusable water bottles. The bottles track the daily intake of water and it also remind consumers to drink water. As such, reusable bottles with smart features are gaining traction amongst the young working class. Health consciousness coupled with convenience is likely to drive the global reusable water bottles market in years to come.
On the other hand, the global reusable water bottles market is anticipated to be impeded by the high prices of these bottles.
Global Reusable Water Bottles Market: Regional Outlook
In terms of region, the global reusable water bottles market is split into the major regions of Middle East and Africa, North America, Europe, Asia Pacific, and Latin America. Asia Pacific is likely to emerge as one of the leading segments of the global reusable water bottles market. Presence of a large pool of young working class together with rising disposable income is likely to propel growth of the regional market in the years to come.
The global reusable water bottles market is segmented as:
- Hypermarket and Supermarket
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