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Growing Awareness Regarding Environmental Sustainability Escalates Eco-Friendly Water Bottle Market Growth
NEW YORK, UNITED STATES, January 31, 2023 /einpresswire.com / -- According to the new research report published by The Insight Partners on“eco-friendly water bottle market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Material (Paper, Metal, Glass, and Others) and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others)” includes the factors fueling the market growth, revenue estimation and forecast, and market share analysis. It also encompasses the identification of significant market players and their key developments.
Eco-Friendly Water Bottle Market - Strategic Insights
Market Size Value inUS$ 8,193.19 million in 2021
Market Size Value byUS$ 11,068.71 million by 2028
Growth rateCAGR of 4.4% from 2021 to 2028
No. of Pages134
No. of Tables56
No. of Charts & Figures73
Historical data availableYes
Segments coveredMaterial, Distribution Channel
Regional scopeNorth America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scopeUS, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
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The eco-friendly water bottle market is projected to reach US$ 11.06 billion by 2028 from US$ 8.19 billion in 2021; it is expected to grow at a CAGR of 4.4% during 2021–2028. Environmental consciousness among the masses is driving global market growth. Moreover, the restrictions on single-use plastics, including regulations related to single-use packaged drinking water bottles, further contribute to the growth of the eco-friendly water bottle market.
Based on material, the eco-friendly water bottle market is segmented into paper, metal, glass, and others. In 2020, the metal segment accounted for the largest market share, and it is further expected to record the highest CAGR during the forecast period. Metal bottles are durable and are therefore preferred by most consumers for long-term usage. Moreover, being unbreakable, they are preferred over bottles made from brittle materials, such as glass. Moreover, metal bottles can be converted into thermos by installing insulating materials inside the bottle which helps maintain the temperature of water inside.
The eco-friendly water bottle market is segmented into five main regions-North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South and Central America. In 2020, Asia Pacific accounted for the largest share of the market. Many Asia Pacific countries, such as China and India, have the fastest-growing populations in the world. Plastic pollution has become a growing concern in these countries. Governments of China and India, among others, have now passed regulations regarding the use of single-use plastics. Moreover, growing consumer awareness regarding plastic pollution has motivated a large share of the population to use eco-friendly water bottles instead of single-use packaged water bottles.
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The eco-friendly water bottle market, based on material, is segmented into paper, metal, glass, and others. By distribution channel, the market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. Based on geography, the eco-friendly water bottle market is broadly segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South and Central America. The market in North America is further segmented into the US, Canada, and Mexico. The eco-friendly water bottle market in Europe is segmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The market in APAC is segmented into China, India, Japan, Australia, South Korea, and the Rest of APAC. The eco-friendly water bottle market in the MEA is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of MEA. The market in South and Central America is segmented into Brazil, Argentina, and the Rest of South and Central America.
Eco-Friendly Water Bottle Market: Competitive Landscape and Key Developments
Chilly's; S'well; Ocean Bottle; Corkcicle; Hydro Flask; Bottles Società Benefit S.r.l. P.IVA; Frank Green; Qwetch; Klean Kanteen; and Kinto Co., Ltd are among the major key players operating in the eco-friendly water bottle market. The capital cost involved in the production of an eco-friendly water bottles and operating a manufacturing unit is moderate, which favors new players to enter into the market. Small manufacturers of eco-friendly water bottle account for a major share of the eco-friendly water bottle market, which makes it a largely fragmented marketplace. With the surge in demand for eco-friendly water bottles, there will be an increase in the number of local and regional manufacturers, which become a threat to the established players.
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