Europe Reusable Water Bottle Market Size Is Expected To Reach USD 2.36 Billion By 2028
Europe Reusable Water Bottle Industry Overview
The Europe reusable water bottle market size is expected to reach USD 2.36 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 4.1% from 2021 to 2028. The increasing threat of plastic pollution, coupled with the severe environmental consequences of single-use and disposable water bottles, is propelling the demand for reusable bottles. An average reusable bottle ranges from USD 5 to USD 10. An average plastic bottle costs around USD 1 but could range up to USD 3 depending on the type. Although plastic bottles are cheaper per bottle, they are much more expensive in the long run, both in terms of individual spending and environmental degradation.
Consumers across the region are increasingly opting for reusable water bottles at workplaces, colleges, schools, and homes. These reusable bottles reduce the plastic burden on landfills, the main cause of groundwater pollution. Moreover, the growing awareness regarding the harmful environmental effects of disposable and single-use plastic bottles, along with a significant increase in plastic waste in oceans and landfills, is promoting the use of reusable water bottles.
According to the statistics provided as part of Beat Plastic Pollution, a UN Environment Program, around one million plastic drinking bottles are purchased every minute across the globe. These bottles are mainly responsible for the large-scale plastic pollution across the oceans and landfills. The same source also indicated that approximately 348 million tons of plastic are generated across the globe every year. Europe accounts for 60 million tons, about half of which gets thrown away and only about 30% of that waste is recycled.
Reusable stainless steel water bottles have become a popular choice among consumers owing to their temperature control attributes. The metal is capable of retaining the temperature of hot or cold water as desired. The insulated design of steel bottles has been widely appreciated by consumers. In addition to positive customer feedback, the FDA’s declaration on the safety of stainless steel has driven manufacturers to introduce these products in trendy and user-friendly designs.
E-commerce is becoming popular as the most preferred distribution channel owing to the high convenience associated with it. Customers are buying these bottles through online portals as a wide range of products is available. In addition, in the wake of the COVID-19 pandemic, consumers have refrained from physical shopping and largely opted for online purchases. This scenario has driven the manufacturers, both local and established ones, to increasingly distribute their products via online channels. For instance, this trend has encouraged many new entrants and existing companies such as 24Bottles, The Friendly Cup, and United Bottles to drive up sales using online traction.
With a fine blend of technological innovation and customization, the market is exploring new aspects of product development. For instance, in 2018, LARQ launched the world’s first self-cleaning water bottle as well as the largest crowdfunded effort for a clean water initiative, with over USD 1.7 million raised in funding. The company witnessed a 400% increase in revenue year-on-year in 2020 and an 80% increase in conversion rate in 3 months.
Europe Reusable Water Bottle Market Segmentation
Grand View Research has segmented the Europe reusable water bottle market on the basis of material, type, distribution channel, and country:
Based on the Material Insights, the market is segmented into Glass, Aluminum, Plastic, Silicone, Steel, and Others (Copper, Brass).
- The plastic segment dominated the market with a share of over 32.0% in 2020. The demand for plastic-based reusable bottles is increasing among consumers owing to the large availability of the product as a result of the low cost of manufacturing by producers.
- The steel segment is projected to expand at the fastest revenue-based CAGR of 5.0% from 2021 to 2028. Since water is packed in plastic bottles for long durations under various conditions dissolves harmful chemicals from the bottle surface, and thereby does not meet the safe drinking water standards and is unfit and unhealthy for consumption.
Based on the Type Insights, the market is segmented into Insulated, and Non-insulated.
- The non-insulated segment dominated the market with a share of over 77.0% in 2020. Aided by local government initiatives, various European countries have been installing water refilling stations at public places. Such initiatives include the Join the Pipe project in the Netherlands, the Refill campaign by City to Sea in the U.K., and Refill Deutschland in Germany.
- The insulated segment is projected to expand at the fastest revenue-based CAGR of 5.6% from 2021 to 2028. The segment growth is fueled by the increasing demand for thermal water insulation in varied climates. With the growing adoption and popularity of vacuum insulation technology, companies such as Thermos, S’well, and Hydro Flask have been incorporating the same into their products to boost sales.
Based on the Distribution Channel Insights, the market is segmented into Online, and Offline.
- The offline segment dominated the market with a share of 87.0% in 2020. The offline channel includes hypermarkets/supermarkets, convenience stores, and specialty stores. Business owners directly buy from either specialty stores or hypermarkets as the price and product availability is better in a store than on websites or e-commerce platforms.
- The online segment is projected to expand at the fastest revenue-based CAGR of 6.3% from 2021 to 2028. The rise in the penetration of e-commerce and smart devices, easy payment options, and discount offers are the factors contributing to the growth of this segment.
Key Companies Profile & Market Share Insights
The European market for reusable water bottle is highly fragmented due to the presence of a few established players and several small and medium companies. The impact of major players on the market is quite high as a majority of them have vast distribution networks to reach out to a large customer base. A majority of the new companies in the market are focusing on establishing a portfolio of stainless-steel bottles as they are naturally BPA-free and an excellent alternative to single-use plastics. Some prominent players in the Europe reusable water bottle market include:
- Tupperware Brands Corporation
- SIGG Switzerland AG
- CamelBak Products, LLC
- S’well
- Hydro Flask
- Klean Kanteen
- Contigo
- Hydaway
Order a free sample PDF of the Europe Reusable Water Bottle Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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