by The global sports water bottles market is used extensively for quenching thirst during physical activities. Sports water bottles are designed for outdoor usage and come in leak-proof designs, insulated walls, and push-open lids for easy handling. They typically range between 400ml to 750ml capacities to cater to hydration needs for varying periods of exercise or sports. Many bottles feature carrying hooks or handles for transportation and BPA-free, non-toxic materials are preferred by health-conscious consumers.
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:
One of the key trends observed in the sports water bottles market is the growing demand for personalized and sustainable water bottle options. With rising environmental concerns, manufacturers are focusing on developing bottles made of recyclable materials like aluminum and stainless steel. Additionally, options allowing for custom engraving or printing of names, messages etc. are gaining traction among consumers seeking uniqueness. Lightweight and collapsible silicone sports bottles are another emerging category convenient for travel use. Furthermore, smart water bottles embedded with in-built filters, sensors for hydration tracking and reminders are innovative products finding wider acceptance in the sports bottles industry.
Porter’s Analysis
Threat of new entrants: The sports water bottle market is highly competitive with presence of both global and regional players. Established brands hold major market share making difficult for new entrants to capture significant market share.
Bargaining power of buyers: The bargaining power of buyers is low due to presence of variety of sports water bottles available from multiple brands at different price points. Buyers can choose products based on their requirements and budget.
Bargaining power of suppliers: The bargaining power of suppliers is low as there are many raw material suppliers for plastic polymers which are key raw materials. Suppliers do not have pricing control as brands can switch to alternative suppliers.
Threat of new substitutes: There is low threat of new substitutes as sports water bottles fulfill specific utility of carrying water conveniently during sports or travel. Products like flavored water or soft drinks are not ideal substitutes to plain drinking water carried in sports water bottles.
Competitive rivalry: The market witnesses intense competition among existing brands. Brands focus on product innovation, customization, endorsements, and agressive marketing strategies to differentiate themselves and increase customer base.
Key Takeaways
The Global Sports Water Bottles Market Trend 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.
The global sports water bottles market is expected to witness high growth over the forecast period. North America holds the major share currently led by United States due to health consciousness and active lifestyle adopted by major population. Availability of sports supplements and variety of products has increased usage of sports accessories including water bottles in the region. The increasing focus on fitness and outdoor activities will continue to drive demand.
Key players operating in the sports water bottle market include Clasado Biosciences, VW-Ingredients, Shandong Longli Biotechnology Co., Ltd, Prenexus Health., Ingredion, Tata Chemicals Ltd., Yakult Honsha Co., Ltd., Tate & Lyle, Roquette Frà ̈res, Cosucra, International Flavors & Fragrances Inc., Nestlé S.A., Renew Life, Mimi’s Rock Corp, Procter & Gamble, AIDP, Hyperbiotics, Jarrow Formulas, Inc., InnovixLabs, Life Extension, Metabolic Maintenance, Naturesvelvet, and others prominent players. Key players focus on new product launches, customizations and partnerships to cater to evolving needs of fitness enthusiasts and expand market presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
