SPORTS WATER BOTTLES MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

Drinking water being an essential and most important resource for living, has made water bottles as one of the most common daily use object. Sports bottles are used to hold any type of drink during sports that fuel the workout. Hydration is an integral part while performing physical activities like jogging. Water bottles find their use in sports, trekking, picnics, and outdoor events due to their easy handling, durability and ease of mobility. The increasing outdoor activities is expected to rocket the market growth for reusable sports water bottles.

The global sports water bottles market is estimated to surpass US$ 7,143.93 million by the end of 2028 in terms of revenue, exhibiting a CAGR of 4.0% during the forecast period (2021 to 2028).

Drivers

One of the most influential factor expected to stimulate market growth during the forecast period is the applications of sports water bottles in outdoor activities. Trekking activities account for a large portion of the demand for sports water bottles, and planning an adventurous weekend trek is becoming trendy. For instance, according to a report from Outdoor foundation, there was an increased percentage of participation in outdoor activities from 50.7% to 52.9% in the U.S. The surge in such outdoor activities is expected to drive demand for reusable sports water bottles in the near future. 

Consumer need for a separate water bottle for sports activities has driven bottle makers to design attractive sport bottles. Increased demand for fitness and exercise accessories has resulted in substantial growth in the bottle market, with sport bottles being one of the most important accessories. Bottle manufacturers have been continually producing appealing and trendy sports bottles in a variety of shapes to satisfy the needs of customers, and also designs that entice them to buy.

Among region, Asia Pacific held dominant position in the global sports water bottles market in 2020, accounting for 35.45% market share in terms of revenue, followed by North America and Europe. Owing to the rising health consciousness and the growth in disposable income will also contribute to the growth of the global sports water bottles market. Consumers are joining fitness clubs or perform indoor and outdoor activities thereby impacting the demand for fitness accessories market, sports bottles being one of the main accessories used in daily life.

Figure 1. Global Sports Water Bottles Market Revenue Share (%), By Region, 2020

Market Restraints

Drinking water from plastic water bottles without cleaning it is considered harmful for health. For instance, according to a research study conducted by ‘treadmill reviews’ in 2006, a random athlete’s water bottle had 313,499 CFU (Colony forming units) of bacteria, also out of all the types of bacteria found on water bottles, almost 60% are disease causing bacteria. The BPA-free plastic bottles contain certain chemicals that leach into water and can disrupt the hormonal system in humans. Moreover, production of such PET plastics consumes a lot amount of energy and require fossil-fuels which releases harmful pollutants into environment, and is harmful for workers as well. These pet plastics are not completely recyclable, the decomposition of such pet bottles secretes toxic substances polluting the land and oceans and threatens the aquatic life. The recycling process consumes a significant amount of energy and resources. The global sports water bottles market is projected to be hampered by these drawbacks of PET water bottles.

Market Trends

Sports water bottles are immensely used by athletes, sportspersons, and fitness enthusiastic individuals in daily training and exercises. The rigorous training, exercising cause dehydration and results in fatigue and tiredness. Sports water bottles containing mineral water, special energy drinks are serving the need for hydration. The reusable water bottles are also replacing the use-and-throw water bottles which are harmful to eco-system. Hence, contributing in environmental balance. Increased attention and investment in sporting events across the globe with awareness regarding human health through water consumption will foster the growth of global sports water bottles market in the forecast period

Figure 2. Global Sports Water Bottles Market Revenue Share (%), By Material Type, 2020

On the basis of material type, in 2020, plastic held largest revenue share of 36.0% in global sports water bottles market. People who participate in sports and other related activities seek for bottled water to stay hydrated during their workouts. Plastic sports bottles are becoming more popular among manufacturers and consumers due to its features such as lightweight and crystal-clear visibility. Furthermore, manufacturers can readily mould the bottles into a variety of shapes and add handles and measurement marks.

Global Sports Water Bottles Market - Impact of Coronavirus (COVID-19) Pandemic

The COVID-19 pandemic created a global impact and affected a lot of institutions, businesses excluding from medicinal and emergency domain. The incorporation of social distancing and lockdown around the globe sterilized several businesses including the sports water bottles market. Strict social distancing measures in the affected areas caused a significant reduction in trekking, sporting activities thus declining demand for sports water bottles. Lockdown has restricted the production of goods in various industries causing a disruption in the supply chain.   

Competitive Section

Key players operating in the global sports water bottles market include Nike, Adidas AG, Borosil, Milton, H2O International SA., shanghai Atlantis Industry Co. Ltd, SIGG Switzerland Bottles AG, Decathlon S.A., Puma SE, and Camlin Kokuyo.