Sports & Fitness Drive the Global Sports Water Bottles Market Growth

Sports Water Bottles Market



Market Overview:

The global sports water bottles market is estimated to be valued at US$ 5,428.8 Mn in 2022 and is expected to exhibit a CAGR of 4% over the forecast period from 2021 to 2028, as highlighted in a new report published by Coherent Market Insights. Sports water bottles are an essential product for athletes and fitness enthusiasts engaged in various sports and physical activities. They help maintain proper hydration levels and support improved physical performance.

Market Dynamics:
Growing health consciousness and rising participation in sports events and recreational activities have been fueling the demand for sports water bottles globally. According to a survey, around 50% of the global population participates in some form of physical exercise weekly. This growing focus on health and fitness is anticipated to drive the sales of sports water bottles during the forecast period. Additionally, easy availability of a wide variety of innovative products through multiple retail channels and e-commerce platforms is also expected to support the market growth.
Market Key Trends:
The Sports Water Bottles Market Demand is witnessing increased demand for sustainable and eco-friendly water bottles. Many companies are offering bottles made from recycled plastic, aluminum, or glass to reduce environmental impact. There is also a rise in demand for innovative bottle designs that are leak-proof, portable, and allow for one-handed drinking operation. Some bottles come with in-built filters or add-on filter straws allowing consumers to drink directly from sources like streams, reducing dependency on plastic water pouches.

SWOT Analysis:
Strength: Growing awareness about importance of staying hydrated during exercise or sports.
Weakness: Potential quality issues in cheap bottles.
Opportunity: Scope for developing bottles tailored for specific sports like running, cycling etc.
Threats: Strict regulations discouraging single-use plastics could impact disposable water bottle sales. Introduction of innovative hydration products like hydration vests/packs.

Key Takeaways

The global sports water bottles market size was valued at US$ 5,428.8 Mn in 2023 and is expected to grow at a CAGR of 4% during the forecast period. Rising health consciousness and increasing participation in sports and fitness activities are driving the demand for sports water bottles that help maintain proper hydration.

Regional analysis: North America dominated the market in 2021 with over 30% share backed by developed economies and popularity of sports culture. Asia Pacific is anticipated to be the fastest growing region during the forecast period supported by large population, improving living standards and increasing interest in health and wellness in countries like China and India.

Key players: Key players in the sports water bottles market include Nike, Adidas AG, Borosil, Milton, H2O International SA., shanghai Atlantis Industry Co. Ltd, SIGG Switzerland Bottles AG, Decathlon S.A., Puma SE, and Camlin Kokuyo. These companies are focused on launching innovative products tailored for various sports as well as expanding into fast growing regional markets through organic and inorganic strategies.

Read More:

https://www.dailyprbulletin.com/sports-water-bottles-market-to-gain-major-growth/

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