April 23, 2024
Eco-friendly Water Bottles

Eco Friendly Water Bottle Market is Estimated to Witness High Growth Owing to increasing awareness about plastic waste disposal

The eco friendly water bottle market has been gaining popularity globally owing to the rising awareness about the detrimental impact of plastic waste on the environment. Eco friendly water bottles are made from sustainable materials like stainless steel, glass and bamboo that are reusable and do not pollute the environment. These bottles help reduce the consumption of bottled water thereby minimizing plastic trash. Eco friendly bottles keep beverages cooler for longer and can withstand frequent use and outdoor conditions like heat.

The global eco friendly water bottle market is estimated to be valued at US$ 9.12 Mn in 2024 and is expected to exhibit a CAGR of 6.3% over the forecast period 2024 to 2030.

Key Takeaways
Key players operating in the eco friendly water bottle market are Merck & Co., Inc., Novartis AG, Amicus Therapeutics, AstraZeneca Plc, Boehringer Ingelheim, Shire Plc, Sanofi Genzyme, BioMarin Pharmaceutical, Inc., Horizon Pharma Plc, and GlaxoSmithKline Plc.

The key opportunities in the eco friendly water bottle market include partnerships with events and outdoor activity organizers and offering attractive discounts through online retailers. Manufacturers are also focusing on new product developments such as bottles with advanced insulation and filtration technology.

The global expansion of The Eco Friendly Water Bottle Market is expected to witness high growth in regions like North America, Europe and Asia Pacific owing to stringent government regulations against single use plastics and rising health consciousness.

Market drivers
The key driver for the eco friendly water bottle market is the increasing awareness about plastic pollution and its adverse effects on the environment. Frequent use of disposable plastic bottles has led to pile up of non-biodegradable waste worldwide. Eco friendly bottles help tackle the growing plastic trash problem and promote sustainable consumption. Rising health concerns over leaching of chemicals from plastic into water has also boosted the demand for toxin-free bottles made from BPA-free materials like stainless steel and glass.

PEST Analysis
Political: Regulations around single-use plastic are becoming stricter in many countries. This is driving demand for more sustainable bottles.

Economic: Higher disposable incomes are allowing consumers to spend more on eco-friendly products even if they are slightly more expensive than regular plastic bottles.

Social: Rising environmental awareness among people, especially youth, is boosting the acceptance of products seen as better for the planet. Health consciousness is also supporting the use of bottles that do not leach chemicals.

Technological: Advances in material sciences are facilitating the large-scale production of bottles from sugarcane-based PET, aluminium, and steel at competitive prices compared to traditional PET.New designs of bottles are improving portability and convenience.

The North American region currently accounts for the largest share of the eco-friendly water bottle market in terms of value. Strict regulations pertaining to single-use plastics and high environmental awareness among population have boosted the adoption of eco-friendly alternatives in this region. Countries like the U.S. and Canada have implemented bans on plastic straws and bottles that can fuel the demand.

The Asia Pacific region is poised to be the fastest growing market during the forecast period. Factors such as rapid urbanisation, rising living standards, and expanding middle class are positively impacting the sales of eco-friendly bottles in countries like India and China. Also, the governments are announcing policies to curb plastic pollution, which will support the market growth in the coming years.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it