Several large companies exert a strong influence on the global hydration containers market, rendering its vendor landscape highly competitive. Competition experienced by the market players is likely to escalate further in the coming years. With the onset of novel technologies, market players are likely to attempt sway consumers in their favor by offering innovations at an affordable price. To benefit from technological advancements, several companies are investing heavily in developing activities. This is done with the aim of experimenting with advanced materials and processing technologies to create high-performance designs and thus emerge at the market’s fore. Overall, vendors operating in the global hydration containers market are likely to compete on the basis of product offering and cost, says Transparency Market Research (TMR) in a new study.
Some of the leading companies operating in the global hydration containers market are CamelBak Products, LLC, Cool Gear International LLC., SIGG Switzerland AG, Nalge Nunc International Corp., Zejiang Haers Vacuum Containers Co., Ltd., BRITA GmbH, Cascade Designs, Inc., Nathan Sports, Inc., and Product Architects, Inc.
TMR has pegged the global hydration containers market at US$8,111.9 mn in 2016. Rising at a CAGR of 4.9%, the global market is likely to value US$12,469.7 mn by the end of 2025. Among the products in front line of rivalry among market players, water bottles make the leading segment. As per TMR, the segment held nearly 63.3% of the overall market until 2017. Regionally, Asia Pacific has emerged at the fore, trailed by Europe. The rising demand for reusable water containers across major nations is likely to put Asia Pacific at the global hydration containers market’s fore.
Rising Intolerance toward Use of Plastic to Bolster Prospects
Intolerance toward use of plastics is on a rise around the world. Much to the benefit for the market, it offers hydration containers producers an ideal setup to amp their efforts and play the correct cards. With paradigm shift in consumer preference to eco-friendly alternatives, scales are tipped in favour of the global hydration containers market’s growth. Recent studies have revealed that the demand for metal hydration containers is likely to augment significantly in the coming years. Spurred by these factors, the global hydration containers market will report strong growth through the forecast period.
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Favourable Regulations to Fuel Use of Hydration Containers
The indiscriminate use of single-use water bottles has triggered havoc, creating unfathomable amount of waste every year across the globe. Latest studies reveal that over 100 million plastic bottles are used every day and a majority of them end up in oceans or landfills. This is a serious concern, compelling attention of governments from around the world. Through incentives and relaxed policies governments are therefore trying to encourage the use of the more eco-friendly alternatives. These developments will augur well for the global hydration containers market, enabling it exhibit robust growth. Forthcoming years are likely to witness tumblers, reusable water bottles, and other hydration containers emerge as environment-friendly alternatives to single-use plastic bottles. Besides this, the use of metal, glass, silicone, and polymers is likely to escalate in the production of hydration containers. Of these, metals and polymers are likely to emerge as favourites due to their high durability, reusability, and recyclability. In response to the increasing use of reusable bottles, pollution levels and landfill problems caused due to the use of plastic and single-use bottles will decline, thus enabling the global hydration containers market gain significant impetus in the coming years.
Besides the aforementioned factors, several advancements are on card, which are likely aid the market’s trajectory in the coming years. While diverse technological advancements and advent of smart bottles will keep the ball rolling, the market will witness healthcare, military, and sports industries embracing these developments. Overall growth trend will remain positive for the global hydration containers market through the forecast period.
