Reusable Water Bottles Demand Topples Due to Production Halt during Covid19
Global reusable water bottle market is estimated to grow at a CAGR of around 4% during the forecast period (2020-2030) and reach a value pool of over US$ 11 Bn.
Demographic and Social Changes to HeightenDemand for Reusable Water Bottles
The global reusable water bottle market is projected to be valued at more than US$ 11Bn by 2030, with a CAGR of over 3.9% during the forecast period. The key factor facilitating demand for reusable water bottles have been the social initiatives such as 'Refill the Planet'. Global campaigns to reduce the number of plastic bottles is creatingnotable demand for reusable water bottles. Another primary driver forwarding the reusable water bottles market is the damaging effects ofone time use plastic bottles. Moreover, the growth in mass sporting events in the last decade has led to high demand for reusable water bottles especially in the western nations.
Key TakeawaysofReusable Water Bottle Market Study
• APEJ is anticipated to give impetus to the reusable water bottle market with the highest growth rate of over 4% during the forecast period. The general spike in mountaineering and outdoor sports activities after the cessation of the Covid-19 outbreak in the region will attribute to such growth
• Polymer based reusable water bottled acquired the most shares (~30%) within the material type segment due to the easy availability of polymer substances and the low cost of manufacturing
• With the recent Covid-19 pandemic however, the global export of polymer substances have slowed down which is expected to affect sales of the polymer reusable water bottles
• Supermarkets / Hypermarkets take the lead within the sales channel segment, accumulating a share of more than 30%.
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