The market for stainless steel water bottles is projected to reach US$ 1,389.53 million in 2023 and US$ 2,330 million in 2033, indicating a CAGR of 5.3% during the forecast period. Between 2018 and 2022, the market for stainless steel water bottles experienced a CAGR of 4.2%.
The newest innovation in the bottling industry is a water bottle made of stainless steel. Global demand for stainless steel water bottles is being driven by growing awareness of the damaging effects of single-use plastic bottles on the environment. These bottles are easily cleanable and reusable.
These bottles are more durable than other types of bottles and do not contain any hazardous substances (glass and plastics, etc.). Chemicals like BPA, which are known to cause cancer, cognitive impairments, and memory loss, are present in many plastic bottles. All of these elements influence the use of stainless steel water bottles, which is boosting the market’s expansion.
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Stainless Steel Water Bottles Market: An Overview
Stainless steel water bottles are the fine alternative to single-use water bottles. Stainless steel water bottles have great stability and strength, which creates them as a perfect choice for customers. Double-wall vacuum insulation and entrenched mist sprayers and infusers are some of the latest technological inventions in stainless steel water bottles.
Stainless steel is sterile material, the water bottles made form which is highly resistant to molds and other bacteria. Stainless steel water bottles are sold through supermarkets and hypermarkets distribution network and also on the online platforms due to changing consumer preference towards convenient shopping supplies.
The main factor, which drives the demand for stainless steel water bottles is the growing demand for accessible products globally. Also, the trend towards the use of stainless steel water bottles will not only help to reduce plastic waste but also reduce the use of petrochemicals, which in effect protect the environment.
Prices of the stainless steel water bottles are also widely dispersed in terms of material features and new inventions. Moreover, the adoption of stainless steel water bottles in fitness centers is expected to drive the growth of the global stainless steel water bottles market.
Stainless Steel Water Bottles Market: Dynamics
The stainless steel water bottle market is majorly driven by the widespread global concern to eliminate harmful plastic waste which also helps in generating the high demand for the market. The stainless steel material also acts as a better shielding barrier than any plastic material.
The beverages stored in it could be kept cold or hot for an average of 24 hours. These factors are acting as added advantages to expand the stainless steel water bottles market over plastic bottles. The primary concern for the adoption of the stainless steel water bottles is its unaffordable high-cost factor.
The companies such as Thermos, Nalgene, etc. are spending heavily on the innovation of the stainless steel water bottles. These companies are focusing to bring the cost factor to a downward trend and plan to increase awareness among people to stop using a single-use plastic water bottle.
Stainless steel is present in abundance in nature and can be recycled again and again with a minimum loss of energy during the production which helps reduce the overall cost of production for stainless steel water bottles. Overall the market for stainless steel water bottles is showing positive trends in the upcoming decade.
Stainless Steel Water Bottles Market: Regional Outlook
On the basis of regions, the global stainless steel water bottles market can be segmented into North America, Latin America, Europe, South Asia, East Asia, Middle East and Africa (MEA) and Oceania. Established markets of Europe and North America become the early adaptor for stainless steel water bottles and are expected to dominate market.
Asia Pacific region is projected to show high-pitched growth in the stainless steel water bottles market due to rising demand from the ever-increasing millennial population. Evolving health awareness among the people in Latin America and Oceania regions anticipated to rise demands for stainless steel water bottles market it the region. Besides this, the future growth of the stainless steel water bottles market seems to be good in MEA
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Stainless Steel Water Bottles Market: Key Players
- Thermos L.L.C.
- BRITA GmbH
- Sigg Switzerland AG
- Tiger Corporation
- Zojirushi Corporation
- Bulletin Brands, Inc.
- CamelBak Products, LLC
- ZheJiang Haers Vacuum Containers Co., Ltd
- Cool Gear International, LLC.
- Klean Kanteen, Inc.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on biodegradable films market segments and geographies.
Regional Analysis Includes
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa (MEA)
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Stainless Steel Water Bottles Market: Segmentation
On the basis of the capacity, the global stainless steel water bottles market can be segmented into:
- Up to 500 ml
- 501 ml to 750 ml
- 750 ml to 1000 ml
- More than 1000 ml
On the basis of usage, the global Stainless Steel Water Bottles market can be segmented into:
- Everyday
- Sports
- Office Life
- Recreation
- Others (Travel, etc.)
On the basis of the distribution channel, the global stainless steel water bottles market can be segmented into:
- Hypermarket
- Supermarkets
- Online Stores
- Others
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