The global sports water bottles market is estimated to be valued at US$ 5,428.8 million in 2021, according to Global Sports Water Bottles Market Report, by Material Type (Stainless Steel, Plastic, Silicone, Aluminum, and Others), by Distribution Channel (Hypermarkets/ Supermarkets, Convenience Stores, Grocery Stores, E-Commerce Websites, and Others), by Quantity (600ml-650ml, 700ml-750 ml, and Above 750), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa), published by Coherent Market Insights.
The global sports water bottles market is expected to surpass US$ 7,143.93 million by 2028, exhibiting a CAGR of 4.0% during the forecast period (2021-2028). The tourism and travelling industry has witnessed a huge rise in tourist activities in the recent months. For instance, Thomas Cook India, a travel agency in India reported a significant spike in travel bookings, the surge was as huge as 500% as that in the 2020. Lockdown has hit the travelling and tourism sector the most, relaxation in the lockdown observed an increased travelling activities. The lack of availability of safe drinking water while travelling propelled the demand of water bottles. The reusable sports water bottles are a good solution for tackling the problem of unavailability of safe drinking water. The boom in travelling sector is expected to fuel the demand for sports water bottles in the near future.
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Key Trends and Analysis of the Global Sports Water Bottles Market:
- Among region, Asia Pacific accounted for the largest share of 35.45% in the global sports water bottles market. The rising awareness of consumers' physical well-being motivates them to join fitness clubs or participate in indoor and outdoor activities, increasing the need for fitness accessories, with sports water bottles being one of the most commonly use. Developing economies such as India, offer prospective growth opportunities for the sports water bottles market during the forecast period. Growing population and their concern regarding health and fitness, increased disposable income, and an ageing population are likely to boost the rise of fitness clubs in India, consequently raising demand for sport water bottles.
Key Takeaways of the Global Sports Water Bottles Market:
- Among material type, plastic segment accounts for the highest market share of 36.0% in the global sports water bottles market. The other segments in material type includes stainless steel, aluminium, silicone, and others. Natural elements are used to make stainless steel bottles, which may be recycled. Stainless steel bottles' insulating properties help keep water chilled for up to 24 hours. Silicone sport bottles have the advantage of being lightweight, portable, and squeezable. Plastic sport bottles can be molded into any shape or size and come in a variety of color tones, giving them a pleasing appearance. The look of aluminium bottles is similar to that of stainless steel bottles. They are less expensive, recyclable, and keep the water at a constant temperature.
- Stainless steel bottles are generally used in hiking, provide a safe option for travelers due to the insulating properties of stainless steel. Aluminum is a durable material for sports bottles. However, it is used less frequently than other materials due to the possibility of wear and tear. Furthermore, plastic sports bottles have a lower shipping cost. Such advantages will fuel the expansion of the sports water bottle market over the forecast period.
- Major 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
- Product launches, acquisitions, and R&D activities are key strategies adopted by players in the global sports water bottles market. For instance, in June 2021, Ello, a leading manufacturer, supplier of food and beverages containers, launched a much more durable, efficient and sustainable product, ‘Tritan’ with a larger shelf-life. Such product launches will bolster the demand of the company’s water bottles to escalate its market share.
Global Sports Water Bottles Market - Impact of Coronavirus (COVID-19) Pandemic
- The consequences of COVID-19 pandemic have led to the deceleration of sports water bottles production, as social distancing measures and lockdown were imposed, as a solution to meet the desperate need of putting a halt to the increasing number of COVID-19 cases. Various industries incurred huge losses in gained revenue due to lockdown and suffered a lot in business as it disrupted the supply chain system. The social distancing measures imposed all over the globe restricted travelling activities, and this, in turn resulted in the declination of the demand for reusable sports water bottles.