The Eco Friendly Water Bottle Market is estimated to be valued at US$ 7.91 Bn in 2023 and is expected to exhibit a CAGR of 9.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The eco friendly water bottle market consists of reusable and recyclable water bottles made from materials such as stainless steel, glass, silicone and other plastic alternatives. Such bottles are designed to reduce plastic waste and promote sustainability. They keep water colder for longer duration and some variants also come with advanced filters to remove impurities. The rising health consciousness and environmental awareness among consumers have boosted the demand for these bottles globally.
Market Dynamics:
The growing concerns over plastic pollution is a key factor driving the eco friendly water bottle market. Plastic bottles end up in landfills and oceans polluting the environment for years. This has incentivized consumers to shift to sustainable options. Additionally, changing lifestyle patterns with increased outdoor and adventure activities have also augmented the sales of bottles that can withstand harsh conditions.
Furthermore, rising health awareness is encouraging people to stay hydrated through the day by carrying their own reusable water bottles. Some variants infused with minerals and filters enable purification and add nutritional value. Manufacturers offering attractive designs and customizable options along with properties like insulation have further spurred the product adoption. Strict government regulations banning single-use plastics in many countries are also positively impacting the market growth.
Segment Analysis
The global eco-friendly water bottle market is dominated by stainless steel sub-segment owing to its high durability and conductivity. Stainless steel helps in retaining the temperature of water for longer duration either hot or cold. The material is known for its corrosion and rust resistant properties which provide long shelf life without altering the taste of water.
PEST Analysis
Political: The implementation of various regulations favoring the use of sustainable and reusable products is positively impacting the market growth. For instance, plastic bag ban policies introduced across various countries.
Economic: Rising disposable income and changing consumer preference towards eco-friendly products are driving the demand in the market. However, high initial cost of these bottles compared to plastic bottles can hinder the market growth.
Social: Increasing health and environment consciousness among consumers have raised the adoption of eco-friendly water bottles. Positive marketing and campaigns to spread awareness about plastic pollution are also driving the social factor.
Technological: Advanced technologies offering added features like temperature control, infuser, and purification in bottles strengthen their portfolio and expand the application scope. The integration of smart technology and tracking features open new opportunities.
Key Takeaways
The gGlobal Eco Friendly Water Bottle Market Size is expected to witness high growth, exhibiting CAGR of 9.9% over the forecast period, due to increasing awareness about negative impacts of plastic pollution.
The Asia Pacific region dominated the market in 2023 with over 30% share owing to rising disposable income, growing health consciousness, and supportive government regulations in countries like India and China. Rapid urbanization and industrialization have accelerated plastic waste generation in the region driving the bottle sales.
Key players operating in the Eco Friendly Water Bottle Market are Camelbak, Nalgene, Sigg, Klean Kanteen, Thermos, Contigo, O2COOL, Brita, Bobble, Vapur, Grayl, Hydro Flask, Lifefactory, Bkr, Que, Takeya, Polar Bottle, Glass Dharma, Aquasana, Corkcicle. These brands focus on offering innovative and sustainable product range like infuser, filters, temperature control to strengthen their portfolio.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
