July 19, 2024
Sports Water Bottles Market

Sports Water Bottles Market is Expected to Driven by Increased Health Consciousness

Sports water bottles have become an essential accessory for all outdoor activities and sports over the past few years. Sports water bottles come in different styles, sizes, and materials to meet the hydration needs of active consumers. These bottles allow easier and more convenient water intake during exercise and sports. They are designed with leak-proof lids, carrying straps or handles, and wide mouths for easy filling and drinking. Sports water bottles help consumers stay hydrated while on the go through their BPA-free and durable construction. The global sports water bottle market is growing rapidly as people are increasingly focusing on health and fitness.

The global Sports Water Bottles Market is estimated to be valued at US$ 5871.79 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Key Trends

Customizable and specialized bottles: One of the key trends in the sports water bottles market is the rise in demand for customizable and specialized bottles. Manufacturers are offering bottles in various colors, graphics, and designs to match the tastes and interests of different consumer groups like kids, young adults, professionals etc. They also offer bottles specifically designed for activities like running, cycling, hiking etc. with added features like carrying straps, grips etc. This is driving greater consumer engagement and brand loyalty.

Porter’s Analysis

Threat of new entrants: The threat of new entrants in the sports water bottles market is moderate. High capital requirements for production and marketing act as barriers to entry. However, ongoing innovation by existing players creates opportunities for new entrants.

Bargaining power of buyers: The bargaining power of buyers in the sports water bottles market is high. Buyers have a wide range of product options available from various manufacturers. Buyers can also negotiate on price easily.

Bargaining power of suppliers: The bargaining power of suppliers is moderate. Raw material costs contribute significantly to the overall production cost. However, suppliers have less bargaining power due to availability of substitute raw materials.

Threat of new substitutes: The threat of new substitutes is moderate. Alternate hydration options such as disposable water pouches and hydration packs pose a threat. However, reusable and refillable water bottles have distinct environmental benefits.

Competitive rivalry: The competitive rivalry is high. Leading players compete on the basis of product innovation, pricing, branding and marketing.

Key Takeaways

The Global Sports Water Bottles Market Size is expected to witness high growth during the forecast period. The global Sports Water Bottles Market is estimated to be valued at US$ 5871.79 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030.

North America is expected to dominate the global market owing to rising health consciousness. The market in Asia Pacific is expected to grow at the fastest pace with increasing youth population and rising disposable incomes in the region.

Key players operating in the sports water bottles market are Clasado Biosciences, VW-Ingredients, Shandong Longli Biotechnology Co., Ltd, Prenexus Health., Ingredion, Tata Chemicals Ltd., Yakult Honsha Co., Ltd., Tate & Lyle, Roquette Cosucra, International Flavors & Fragrances Inc., Nestlé S.A., Renew Life, Mimi’s Rock Corp. Regional analysis of Asia Pacific comprises rising health consciousness as well as youth population and disposable incomes. These key players focus on product innovation and partnerships for market expansion.

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