According to the latest market study released by Technavio, the global sports bottle market is expected to grow at a CAGR of more than 6% during the forecast period.
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Technavio has published a new report on the global sports bottle market from 2017-2021. (Graphic: Business Wire)
This research report titled 'Global Sports Bottle Market 2017-2021' provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
The global sports bottle market is growing because of the increasing participation in sports. This is because with more people engaging in sports and related activities, the consumers look for bottled water to keep themselves hydrated during their exercises. Accordingly, with the growing sports events market, the participation level in sports is increasing further. Sports like football and baseball remained the most admired sports globally, which generated the maximum revenue in the global sports events market.
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Technavio's transportation and logisticsresearch analysts categorize the global sports bottle market into the following segments by materials. They are:
- Plastic
- Stainless steel
- Aluminum
- Glass
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The top three revenue-generating materials segments of the global sports bottle market are discussed below:
Plastic
Plastic materials are easy to mold into various shapes. Manufacturers can easily integrate handles and measurement marks into plastic sports bottles. Also, plastic sports bottles offer a crystal-clear visibility, which makes it easy to identify the product and brand name.
According to Shakti Jhakar, a lead packaging research analyst from Technavio, "The types of plastic materials used in the manufacturing of sports bottles consist of polyethylene and polyethylene terephthalate. With rising demand for blow-molded plastic, the global sports bottle market is simultaneously on the rise. This is because the blow molding technique is used for the manufacturing of sports bottles and blow molded plastic is used for the packaging of a variety of beverages, such as water, juices, and carbonated soft drinks."
Stainless steel
Stainless steel bottles are generally used in hiking. Hiking requires carrying food and water for a day or more. Accordingly, these bottles provide a safe option for travelers because of the insulating properties of stainless steel, which keep hot drinking water warm for nearly five hours and cool drinking water cold up to 24 hours.
"The number of participants in hiking is growing in developed countries like the US, which is leading to the demand for sports bottles. Thus, with growing consumption and increasing use, the global stainless-steel sports bottle market is undergoing considerable growth," adds Shakti.
Aluminum
Aluminum offers durability to sports bottles. However, its use is less compared with other materials because it can result in wear and tear. Also, aluminum bottles are not considered bisphenol-A (BPA) free. This creates a challenge for the global aluminum sports bottle market.
The consumption of aluminum is increasing in developing countries like India due to its less-expensive nature. This is expected to reach more than 5 million tons by 2021 from nearly 3 million tons in 2016. Thus, with a growing consumption of aluminum and increasing demand for aluminum in packaging applications, the global aluminum sports bottle market is also witnessing growth.
The top vendors highlighted by Technavio's research analysts in this report are:
- PMI
- Thermos
- Tupperware
- Vista Outdoor
- Zojirushi.
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