The global reusable plastic water bottles market is prognosticated to witness a significant rise in demand within the forecast period from 2017 to 2022. Owing to rise in demand for packaged drinking water, along with the increase in awareness about the environmental damages due to usage of plastic are the major factor propelling the growth in the global market. As far as material is concerned, high density polythene is anticipated to remain dominant material over the coming years. According to Transparency Market Research the global reusable plastic water bottles market is expected to grow with a strong CAGR within the forecast period from 2017 to 2022. In 2017 the market was calculated to be worth US$3.2 bn, which is anticipated to grow around worth US$4 bn by the end of 2022.
Which factors are responsible for stirring the growth of reusable plastic water bottles?
The market for global reusable plastic bottles has seen steady development in recent years due to the rising necessity of reusable things in the plastics segment. Moreover, scientific research has demonstrated the risk resulting from the rising use of plastic which ends up being a toxic waste. This is because, plastics being non-biodegradable, can take away the fertility of the soil and can threaten the terrestrial and marine life too. This has forced governments in many nations to frame stringent rules to phase out use of plastics. This has in turn proved a boon for reusable plastic water bottles.
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What are the major segments anticipated to support demand for reusable plastic water bottles?
Based on material type, the global reusable water bottles market is divided into low density polyethylene, high density polyethylene, polycarbonates, and so on. Among these, the high density polyethylene material is prognosticated to remain dominant in coming years. This can be credited to its property of highly sustainable material. This segment hold around 39.8% of the global market share, as evaluated in 2017, with the evaluation worth US$1.3 bn. This evaluation figure is expected to reach around US$1.6 bn by 2022. Various materials utilized in making reusable plastic water bottles are low density polyethylene, high density polyethylene, polycarbonates, and several others. When it comes to the capacity, the global reusable plastic water bottles markets is divided into 0 ml – 500 ml, 500 ml – 1000 ml, 1000 ml – 2000 ml, or even in 2000 ml. Prominent sales channels in the global reusable plastic water bottles market are markets/hypermarkets, independent stores, online sites, and others. Reusable plastic water bottles find application in sports, daily use, travelling, and others.
What are the key players investing into the constantly growing reusable water bottles market?
The global market is broadly segmented into America, North America, Europe, Africa, Japan, Middle East and Asia Pacific in terms of geography. Among these regions Asia Pacific is expected to dominate the global market, trailed by Europe. The Asia Pacific market was evaluated to be of worth US$ 1.1 bn in 2017. Along with it, the region is expected to witness the profit by 195 BPS by the year 2022. Moreover, the Europe region is likely to project a moderate CAGR of 4% within the forecat period from 2017 to 2022. This market figure is anticipate dto reach around worth US$1 bn by the end of year 2022.
The leading organizations in the global reusable plastic water bottles advertise incorporate A. O. Smith Corporation, BRITA GmbH, Cascade Designs Inc., Elite S.r.l, Implus LLC, Tupperware Brands Corporation, Taiyo Nippon Sanso Corporation, Thermo Fisher Scientific Inc., Vista Outdoor Inc. and ZheJiang Haers Vacuum Containers Co. Ltd.