This in-depth report delves into the critical drivers, challenges, and investment opportunities shaping the smart water bottle industry, offering valuable guidance for businesses navigating this evolving landscape. The global market is growing at 10.9% CAGR.
Smart Water Bottle Market Analysis: Polymer vs. Metal, Growth Opportunities, and Revenue Forecast, 2023-2033
NEWARK, Del., Nov. 20, 2023 /PRNewswire/ -- In 2022, the market for smart water bottles was valued at US$ 31,229.9 million. The market for such interactive vessels is expanding as more sports fans choose equipment that improves their training. By 2033, sales are expected to be valued at US$ 96,755 million, anticipated to incline at a CAGR of 10.9%.
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Significant industry growth factors are the increase in disposable income, the capacity to produce items having embedded technology, and a relatively quick acceptance of innovations. Expanded technological advancements in manufacturing processes and market-based research and development initiatives will create new opportunities for the market for smart water bottles throughout the estimated period.
Many industries are using IoT to create user-friendly and intelligent devices. The Internet of Things (IoT) connects intelligent devices to other smart objects for one-to-one communication. IoT technologies connect consumers and product designers to gather and use real-time data. Smart bottles with measurements utilize IoT technology to link with smart devices and applications to gather various consumption patterns.
The demand for smart bottles created to help users keep track of their water consumption is being fueled by the growing awareness of various medical conditions experienced by people of all ages as a result of dehydration, which results in fuzzy thinking, changes in mood, a rise in body heat, and various other health complications.
In order to expand their presence, market participants strongly emphasize offering cutting-edge features and designs that provide customers with quality experiences at competitive prices. Companies use eco-friendly manufacturing techniques to produce smart water bottles according to regional governments' guidelines.
Smart Water Bottle Market Research Report Coverage:
Report Attribute | Details | |||
Growth Rate | CAGR of 10.9% from 2022 to 2032 | |||
Market Value in 2023 | US$ 34,384.1 million | |||
Smart Water Bottle Market Value in 2033 | US$ 96,755 million | |||
Base Year for Estimation | 2022 | |||
Historical Data | 2018 to 2022 | |||
Forecast Period | 2023 to 2033 | |||
Quantitative Units | US$ million for value | |||
Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis | |||
Segments Covered |
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Regions Covered |
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Key Countries Profiled |
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Smart Water Bottle Industry Key Companies Profiled |
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Understand global, regional, and country-level parameters with growth opportunities, historical data (2018-2022), and forecasts (2023-2033). Buy this report today!
Key Takeaways from the Market Study
- From 2018 to 2022, the worldwide market for smart water bottles saw a CAGR of 8.2%.
- The metal type segment is anticipated to hold 37.8% of the market in 2022 in terms of type.
- According to FMI, smart bottle sales will peak in 2023 and range in price from $20 to $40.
- From 2023 to 2033, China's smart water bottle market is anticipated to grow at a 13.4% CAGR.
- With a 24.7% market share in 2022, the United States is anticipated to dominate the market for smart water bottles in North America.
"Smart water bottles have grown in popularity over the years owing to their ability to create wireless connections with other smart gadgets, like a smartwatch or even a smartphone, and therefore readily communicate data about water consumption and inform the user through a sound or display," Says Sneha Varghese (Senior Consultant, Consumer Products & Goods).
Competitive Landscape
Companies competing in the global smart water bottle market are looking to diversify their product offerings by offering customers various styles of smart water bottles that are lightweight and extremely efficient. They also make investments in R&D for the creation of new products.
Prominent players in the smart water bottle market are:
- Caktus, Inc.
- Ecomo
- Groking Lab, Ltd.
- Hidrate, Inc.
- Open-2
- Moikit
- Thermos, LLC
- Trago, Inc.
- Hydra Coach, Inc.
- Lifefuels, Inc.
Some key developments of the leading companies in this market are:
- In 2022, Apple introduced two smart water bottles from HidrateSpark for sale at its retail stores and online in the United States. With the help of the smart water bottles from HidrateSpark company, users can monitor their water use and connect it to Apple Health. This water bottle is composed of odor- and shatter-resistant Tritan plastic and contains a rechargeable battery and charging cord.
- Cap2O provides customers with a convenient and portable supply of clean, sparkling, drinking water wherever people go in response to the global rise in water-borne infections. The UV-C mode is initiated by a rapid triple tap of the thumb on the Cap2O's smart cap.
Purchase this report now to get key companies with their Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global smart water bottle market, providing historical data for 2018 to 2022?and forecast statistics from 2023 to 2033.
To understand opportunities in the smart water bottle market, the market is segmented on the basis of smart water bottle by type (polymer and metal), price range (below US$ 20, US$ 20- US$ 40, US$ 40- US$ 60), and sales channel (direct and retail),across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
About the Consumer Product Division at Future Market Insights
The consumer product team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team briefly analyzes key trends, including competitive landscape, profit margin, and research development efforts.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest?market research reports?and industry analysis helps businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and?syndicated market research reports?deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
About the Author:
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the United Kingdom, the United States, and India. FMI's latest market research reports and industry analysis helps businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition.
Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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