Reusable Water Bottles Market is Expected to Hit US$ 9.9 Billion By 2023: Credence Research
SAN JOSE, Calif., April 24, 2018 (GLOBE NEWSWIRE) -- According to a new market report published by Credence Research “Reusable Water Bottles Market - Growth, Future Prospects, Competitive Analysis, and Forecast 2016 - 2023,” the reusable water bottles market has been estimated to be valued at US$ 7.6 Bn by the end of 2016, and is expected to reach US$ 9.9 Bn by 2023, expanding at a CAGR of 4.0% from 2016 to 2023.
Market Insights
Bottles which can be reused for multiple trips to a bottler or is reutilized by households are generally known as reused water bottles. The reusable water bottles are generally utilized to drink beverages as well as to carry from one place to another. The significantly expanded worldwide market for reusable water bottles, encircling varied products in terms of shape, size, materials, features and designs. Over the past few years, it has been notified that reusable water bottles have become linked with environmental concerns. Consumers who generally carry reusable water bottles are carrying not just to have water at hand but also as an objection against significant wastage of disposable plastic water bottles. Growing health consciousness coupled with rising purchasing power of households has intensified the demand for reused water bottles all across the globe. Changing living standard of people in developing countries such as India and China is likely to fuel the market growth of reusable water bottles all over the world over the forecast period.
Urbanization and changing lifestyle along with increasing population especially in Asian countries such as China and India, deeper inclination towards smartphones and a significant and strong distribution network is projected to bolster the growth of global reusable water bottles business between 2016 and 2023. Apart from this, rising wide variety of designed and stylish water bottles will propel the demand for reusable water bottles market across the globe in the next few years.
Competitive Insights:
Reusable water bottles market is segmented on the basis of sales channel such as supermarket/hypermarket, online stores and others. Amongst this, supermarket/hypermarket segment grabbed the highest market share in the total revenue of global reusable water bottles market in 2015. The segment is anticipated to dominate during the period 2016-2023. Rising internet penetration all over the world is expected to boost the growth of online stores segment over the forecast period. The global reusable water bottles market is also segmented on the basis of usage which includes daily use, sports and travel. The sports segment is expected to observe robust growth during the forecast period. The reusable water bottles market is also bifurcated by material type such as polymer, metal, glass and silicon. Amongst all, metal segment is expected to observe significant growth and higher demand in the total worldwide reusable water bottles market till 2023.
Key Trends:
- Emerging urban middle class
- Rising trendy water bottles
- Online shopping
Browse Full Report With TOC, Figures And Tables @ http://www.credenceresearch.com/report/reusable-water-bottles-market
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