Reusable Water Bottle Market Projected to Witness a Single-Digit CAGR During 202
Posted by Hussain on January 5th, 2021
The proliferation of anti-plastic campaigns has offered new growth horizons for manufacturers of reusable water bottles. Further, highly-favored attributes such as their non-reactivity, easy maintenance, and recyclability is complementing the market growth. According to Fact.MR’s analysts, the global reusable water bottle market is on course at a steady 4% CAGR through 2030. Additionally, several government-backed initiatives will favor the sales of reusable water bottles through the projection period (2020-2030).
“Major players must engage in innovating the design and functionality of reusable water bottles for solid competitive ascendancy,” concludes Fact.MR.
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Key Takeaways of Reusable Water Bottle Market Study
Reusable Water Bottle Market – Key Drivers
Reusable Water Bottle Market – Key Impediments
Anticipated Impact of COVID-19 on Reusable Water Bottle Market
The global outbreak of COVID-19 has hampered trade of reusable water bottles, particularly in polymer based reusable water bottles segment. Moreover, the uncertainty surrounding the pandemic has made it extremely challenging to derive solid conclusions regarding the fate of reusable water bottle market. Demand for retail and consumer goods has suffered immensely due to several roadblocks amid COVID-19 pandemic. Reusable water bottles are witnessing a sharp drop in demand due to them being non-essential products. The most critical challenge is the movement of goods due to reduced manpower and number of vehicles on the road. This trend is projected to continue through the second quarter of 2020.
Competition Landscape of Reusable Water Bottle Market
The global reusable water bottle market is characterized by highly fragmented competitive landscape. Some of the major manufacturers in the global reusable water bottle market that are featured in this Fact.MR report include, but are not limited to, Brita GmbH, Camelbak Products LLC., Tupperware Brands Corp., Klean Kanteen, Inc., Aquasana, Inc., Thermos LLC, and Contigo. New product releases with added features is the key tactic being followed by top players in reusable water bottle market. Companies such as Nalge Nunc International Corporation and Newell are collaborating with Disney and Marvel for promoting their new products. Moreover, Cove introduced a new line of biodegradable reusable water bottles in 2019 aimed at improving sustainable business practices.
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About the AuthorHussain
Joined: December 23rd, 2016
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