The global market for reusable water bottles is displaying steady growth over the recent years as consumers are increasingly shifting towards reusable water bottles in place of single-use bottles. Reusable water bottles that are made of metal, glass, polymer, or silicone offer high durability and strength that single-use water bottles lack. Product manufacturers are striving to introduce novel products that serve consumer preferences and demands.
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The growing awareness to reduce plastic waste is also acting in favor of the growth of reusable water bottles market. Consumers are increasingly switching to reusable water bottles that do not use plastic and the material used can be completely recycled.
However, high portability and easy availability of bottled water makes a solid reason for consumers to refrain from using reusable water bottles.
A report by Transparency Market Research (TMR) forecasts the global reusable water bottles market to expand at a CAGR of 3.6% between 2017 and 2025, for the market to become worth US$10.4 bn by the end of 2025 from US$7.6 bn in 2016.
Increasing Preference for Eco-friendly Products to make Metal Segment Dominant
Depending upon material type, glass, metal, polymer, and silicone are the key segments into which the global reusable water bottles market is divided in this report. Among them, the metal segment is anticipated to lead holding a little more than 33% of the market over the forecast period. However, the polymer segment is anticipated to emerge lucrative displaying a CAGR of 3.9% between 2017 and 2025 vis-à-vis revenue. The growth of polymer segment is anticipated to relatively cheap cost of polymer-based reusable water bottles.