In 2022, the smart water bottle market was valued at US$ 31,229.9 million. The market for such interactive vessels is expanding as more sports fans choose equipment that makes their training better. By 2033, sales are expected to be valued at US$ 96,755 million, anticipated to incline at a CAGR of 10.9%.
The increase in disposable income, the capacity to produce items having embedded technology, and also a relatively quick acceptance of innovations, are significant industry growth factors. Expanded technological advancements in manufacturing processes and expanded market-based research and development initiatives will create new opportunities for the market for smart water bottles throughout the period covered by the estimate.
IoT is being used by many industries to create user-friendly and intelligent devices. The Internet of Things (IoT) connects intelligent devices to other smart objects to allow for one-to-one communication. IoT technologies connect consumers and product designers to gather use real-time data. Smart bottles with measurements utilize IoT technology to link with smart devices and applications to gather various consumption patterns.
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The demand for smart bottles created to help users keep track of their water consumption is being fueled by the growing awareness of various medical conditions experienced by people of all ages as a result of dehydration, which results in fuzzy thinking, changes in mood, a rise in body heat, and various other health complications.
In order to expand their presence, market participants place a strong emphasis on offering cutting-edge features and designs that provide customers with quality experiences at competitive prices. Companies are using eco-friendly manufacturing techniques to produce smart water bottles in accordance with regional governments’ guidelines.
Key Takeaways from the Market Study
- From 2018 to 2022, the worldwide market for smart water bottles saw a CAGR of 8.2%.
- The metal type segment is anticipated to hold 37.8% of the market in 2022 in terms of type.
- According to FMI, smart bottle sales will reach their peak in 2023 and range in price from $20 to $40.
- From 2023 to 2033, the smart water bottle market in China is anticipated to grow at a 13.4% CAGR.
- With a 24.7% market share in 2022, the United States is anticipated to dominate the market for smart water bottles in North America.
“Smart water bottles have grown in popularity over the years owing to their ability to create wireless connections with other smart gadgets, like a smart watch or even a smartphone, and therefore readily communicate data about water consumption and inform the user through a sound or display.” remarks an FMI analyst.
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Competitive Landscape
Companies competing in the global smart water bottle market are looking to diversify their product offerings by offering customers various styles of smart water bottles that are lightweight and extremely efficient. They also make investments in R&D for the creation of new products.
Prominent players in the smart water bottle market are:
- Caktus, Inc.
- Ecomo
- Groking Lab, Ltd.
- Hidrate, Inc.
- Open-2
- Moikit
- Thermos, LLC
- Trago, Inc.
- Hydra Coach, Inc.
- Lifefuels, Inc.
Some key developments of the leading companies in this market are:
- In 2022, Apple introduced two smart water bottles from HidrateSpark for sale at its retail stores and online in the United States. With the help of the smart water bottles from HidrateSpark company, users can monitor their water use and connect it to Apple Health. This water bottle is composed of odor- and shatter-resistant Tritan plastic and contains a rechargeable battery and charging cord.
- Cap2O provides customers with a convenient and portable supply of clean, sparkling, drinking water wherever people go in response to the global rise in water-borne infections. The UV-C mode is initiated by a rapid triple tap of the thumb on the Cap2O’s smart cap.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global smart water bottle market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the smart water bottle market, the market is segmented on the basis of smart water bottle by type (polymer and metal), price range (below US$ 20, US$ 20- US$ 40, US$ 40- US$ 60), and sales channel (direct and retail),across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
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About the Consumer Product Division at Future Market Insights
The consumer product team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team briefly analyzes key trends, including competitive landscape, profit margin, and research development efforts.
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