The global stainless steel water bottle market is anticipated to witness a market value of USD 1,389.53 million in 2023 and is expected to harness a market value of USD 2,330 million by reflecting a CAGR of 5.3 % in the forecast period 2023 to 2033. The market for Stainless steel water bottle market registered a CAGR of 4.2 % in the historical period 2018 to 2022.
A stainless-steel water bottle is the newest trend innovation in the bottling business. Increasing awareness of the negative environmental impacts of single-use plastic bottles is driving the demand for Stainless Steel water bottles across the globe.
These bottles can be reused and cleaned with convenience. These bottles do not contain toxic chemicals and have more durability than other types of bottles (glass and plastics, etc.).
Many plastic bottles contain chemicals such as BPA known to cause cancer, cognitive disabilities, and memory loss. All of these factors contribute to the adoption of stainless steel water bottles which is further driving the growth of the market.
The durability offered by stainless steel water bottles is another factor driving the market growth. Initiatives by several companies to produce non-plastic bottles offer a market potential for Stainless-Steel water bottles. Growing customer awareness of health and the environment is further driving the growth of the stainless-steel water bottle market during the forecast period.
The rising perception of living a healthy lifestyle by drinking warm water or warm drinks is expected to create demand for the stainless steel water bottles market during the forecast period.
Latest technologies like mobile operating systems are being offered to keep water and other fluids at a constant temperature for long periods of time. Smart insulated bottles that enhance the functioning of stainless-steel water bottles are being developed.
These advanced technologies are offering significant growth opportunities to the stainless steel water bottle market which will aid in the expansion of the targeted market.
When the beverages are stored in stainless steel bottle it remains cold or hot for a long time. Due to this factor, these bottles are acting as an added advantage to increase the stainless-steel water bottles market over the use of plastic bottles. Plastic bottles increase the chance of chemicals leaking into the juices. But the stainless steel keeps it chemical free.
The best part of these bottles is that they can be easily washed in a dishwasher. Stainless steel bottles can be used in almost every situation, which is the reason why they are favored by regular travellers as well as by athletes which is anticipated to drive market growth in the forecast period.
On the other hand, governments of various countries are taking initiatives to ban single-use plastic bottles and instead promote the use of reusable bottles which are environment-friendly and safe to use. The market is expected to rise due to the rising number of government initiatives to spread consumer awareness about using eco-friendly bottles.
Region-wise, North America is expected to dominate the market of Stainless-Steel water bottle market by accumulating 37% market share by end of 2033. The growth is attributed to the existence of multiple leading companies operating within this region with huge manufacturing capacity. Growing public awareness regarding health advantages associated with Stainless-Steel water bottles has provided further chances for these key players which is fostering the market growth.
Likewise, the stainless-steel water bottle market is anticipated to reflect fastest CAGR of 5.2% during the forecast period.
To understand the hazards of plastic water bottles, the government is encouraging manufacturers to employ environmentally safe and sustainable materials. This trend is anticipated to encourage people to use reusable water bottles like steel water bottles. This initiative is expected to boost the region’s market growth during the forecast period.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | USD 1,389.53 million |
| Projected Market Value in 2033 | USD 2,330 million |
| Growth Rate (2023 to 2033) | 5.3% CAGR |
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Latest developments in technology, mergers, acquisitions, tie-ups and partnerships within the companies involved in manufacturing Stainless steel water bottle are expected to create lucrative opportunities for market growth during the forecast period.
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.
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.
Principal Consultant
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.
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.
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1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis and Forecast 6.1. Capacity 6.2. Usage 6.3. Distribution Channel 7. Global Market Analysis and Forecast, By Capacity 7.1. Up to 500 ml 7.2. 501 ml to 750 ml 7.3. 750 ml to 1000 ml 7.4. More than 1000 ml 8. Global Market Analysis and Forecast, By Usage 8.1. Everyday 8.2. Sports 8.3. Office Life 8.4. Recreation 8.5. Others (Travel, etc.) 9. Global Market Analysis and Forecast, By Distribution Channel 9.1. Hypermarket 9.2. Supermarkets 9.3. Online Stores 9.4. Others 10. Global Market Analysis and Forecast, By Region 10.1. North America 10.2. Latin America 10.3. Europe 10.4. South Asia 10.5. East Asia 10.6. Oceania 10.7. Middle East & Africa (MEA) 11. North America Sales Analysis and Forecast, by Key Segments and Countries 12. Latin America Sales Analysis and Forecast, by Key Segments and Countries 13. Europe Sales Analysis and Forecast, by Key Segments and Countries 14. South Asia Sales Analysis and Forecast, by Key Segments and Countries 15. East Asia Sales Analysis and Forecast, by Key Segments and Countries 16. Oceania Sales Analysis and Forecast, by Key Segments and Countries 17. Middle East & Africa Sales Analysis and Forecast, by Key Segments and Countries 18. Sales Forecast by Capacity, Usage, and Distribution Channel for 30 Countries 19. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 20. Company Profile 20.1. Thermos L.L.C. 20.2. BRITA GmbH 20.3. Sigg Switzerland AG 20.4. Tiger Corporation 20.5. Zojirushi Corporation 20.6. Bulletin Brands, Inc. 20.7. CamelBak Products, LLC 20.8. ZheJiang Haers Vacuum Containers Co., Ltd 20.9. Cool Gear International, LLC. 20.10. Klean Kanteen, Inc.
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Stainless Steel Water Bottles Market
