by The global 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 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Eco Friendly Water Bottles are made using sustainable and eco-friendly materials such as stainless steel, glass, silicone and aluminum. These bottles are designed to reduce plastic waste and promote environmental conservation. They help prevent billions of plastic bottles from ending up in landfills or oceans annually. Many eco friendly bottles are reusable, durable and do not leach harmful chemicals like BPA into the water. They come in various sizes, shapes and styles to suit different needs and preferences. The rising awareness about environment protection and decreasing plastic pollution has boosted the demand for eco-friendly alternatives like these bottles in recent years.
Market key trends:
One of the key trends in the market is the growing preference for bottles made of glass and stainless steel. These materials are highly reusable, recyclable and do not contaminate water quality over extended usage. Manufacturers are focusing on advanced designs, double wall insulation and other features to make glass and steel bottles more portable and convenient to carry. There is also a rise in customized designed bottles with prints, graphics and other attractive styles to enhance brand promotion and product differentiation. Another notable trend is the availability of bottle subscription services which deliver new bottles regularly and offer convenient recycling/exchange of used bottles. This has increased the accessibility of eco products for many customers.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the eco friendly water bottle market is moderate as this market requires high initial capital investment and strong distribution channel and brand recognition.
Bargaining power of buyers: The bargaining power of buyers is high in this market as there are several options and substitutes available at different price points for eco friendly water bottles.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw material suppliers play a major role in supplying plastic, glass, and other materials required for manufacturing eco friendly water bottles.
Threat of new substitutes: The threat of new substitutes is high as alternatives like reusable metal and glass bottles gain popularity due to environmental concerns with plastic bottles.
Competitive rivalry: The competitive rivalry in the eco friendly water bottle market is high due to presence of established brands.
Key Takeaways
The Global Eco Friendly Water Bottle Market Size is expected to witness high growth, exhibiting CAGR of 9.9% over the forecast period, due to increasing health awareness and reducing plastic waste.
Regional analysis: North America dominates the eco friendly water bottle market currently due to rising environmental concerns. Asia Pacific is expected to witness fastest growth in the market during the forecast period supported by growing middle class population and their rising disposable income in the region.
Key players analysis: Key players operating in the eco friendly water bottle market include Camelbak, Nalgene, Sigg, Klean Kanteen, Thermos, Contigo, O2COOL, Brita, Bobble, Vapur, Grayl, Hydro Flask, Lifefactory, Bkr, Que, Takeya, Polar Bottle, Glass Dharma, Aquasana, and Corkcicle.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
