With growing concerns around plastic waste pollution, eco-friendly water bottles are in trends by driving sustainability. Made from easily recyclable and biodegradable materials like stainless steel, glass and BPA-free plastics, eco-friendly water bottles provide a handy alternative to single-use plastic bottles. They help reduce plastic bottle usage as users can continually reuse and refill them. Some bottles also come with filter mechanisms allowing users to directly refill from any source of water.
The Global Eco Friendly Water Bottle Market is estimated to be valued at US$ 9.12 Mn in 2024 and is expected to exhibit a CAGR of 6.3% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the Eco Friendly Water Bottle are Merck & Co., Inc., Novartis AG, Amicus Therapeutics, AstraZeneca Plc, Boehringer Ingelheim, Shire Plc, Sanofi Genzyme, BioMarin Pharmaceutical, Inc., Horizon Pharma Plc, and GlaxoSmithKline Plc. These key players are introducing innovative bottle designs made from more sustainable materials along with advanced filtration technologies.
The growing demand for sustainable and environment-friendly products from conscious consumers is a major factor driving the adoption of eco-friendly water bottles. Rapid urbanization and changing lifestyles have also increased packaged drinking water consumption which is propelling the use of reusable bottles.
Leading manufacturers are expanding their geographic footprint to meet the growing global demand. They are focusing on emerging economies like Asia Pacific and Latin America which offer high market potential due to increasing health awareness and disposable incomes.
Market key trends
One of the key trends in The Eco-Friendly Water Bottle Market is the growing popularity of bottles made from glass and stainless steel. Though heavier than plastic bottles, glass and stainless steel are highly recyclable and do not leach harmful chemicals. They help retain water taste and purity better than BPA-based plastics. Many brands are innovating with glass bottle designs that are more durable yet lightweight. The market is also witnessing the rise of powder-coated and insulated stainless-steel bottles to preserve water temperature for longer duration.
Porter’s Analysis
Threat of new entrants: Eco friendly water bottle market has moderate threat as new entrants need to invest in production and distribution network.
Bargaining power of buyers: Buyers have moderate bargaining power as there are many established players offering eco friendly water bottles.
Bargaining power of suppliers: Suppliers have low bargaining power as raw materials required for manufacturing eco friendly water bottles are easily available.
Threat of new substitutes: Threat of substitutes is low as there are limited substitutes available for eco friendly water bottles which are eco-friendly and reusable.
Competitive rivalry: Competition is high among existing players to increase market share.
Geographical regions where market in terms of value is concentrated: North America region holds the major share of the eco friendly water bottle market in terms of value, followed by Europe. Rising consumer awareness about environment protection and stringent government regulations supporting use of sustainable products drives the market growth in these regions.
The fastest growing region for the eco friendly water bottle market is Asia Pacific owing to increasing disposable income, expanding middle class population and rapid urbanization in countries such as India and China. Rising health consciousness among consumers and government efforts to reduce plastic pollution has been fueling adoption of reusable water bottles in the region.