Sports Water Bottles Market Estimated To Witness High Growth Owing To Increasing Fitness Activities And Health Consciousness
Sports water bottles are bottles used for drinking water and other beverages during exercise or other physical activities. They come in a variety of sizes and designs, with leak-proof lids, carry loops or handles for easy transport, and insulation to keep beverages cool or hot. Sports water bottles allow athletes of all levels to stay properly hydrated during fitness routines or competitive sports. They are commonly made from lightweight, durable materials like stainless steel, aluminum or plastic.
The global sports water bottles market is estimated to be valued at US$ 5871.79 Mn in 2023 and is expected to exhibit a CAGR of 10.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
One of the key drivers for the growth of the sports water bottles market is the increasing participation in fitness activities and growing health consciousness among people globally. According to the 2020 Participaction Report Card on Physical Activity for Children and Youth, only 38% of Canadian children and youth meet the recommended physical activity guidelines of at least 60 minutes of moderate to vigorous physical activity daily. As physical activity levels continue to rise in the pursuit of better health and fitness goals, the demand for sports water bottles will also increase as they allow athletes to stay hydrated during workouts or matches. Proper hydration is an important factor for performance and recovery from physical exertion. Sports water bottles provide convenient access to water and allow measuring daily water intake. Their insulation properties and spill-proof lids make them suitable for carrying water during different physical activities without leakage. The varied design, size and customizable options in sports water bottles appeal to the different hydration needs of fitness enthusiasts and athletes. The growing health consciousness and focus on wellness are expected to drive further growth in the demand for sports water bottles over the forecast period.
SWOT Analysis
Strength: Sports water bottles are designed specifically for athletes and those who are active. They are durable and able to withstand falls and drops without leaks or damage. Most bottles also include carrying loops or handles for easy transportation. Their leak-proof lids provide a secure seal to prevent spills, especially during workouts or games.
Weakness: Some sports water bottles are larger and bulkier than standard water bottles, making them less convenient to carry everywhere. The materials used like plastic can undermine their environmental sustainability. Bottles with complicated filters and settings require maintenance to function properly.
Opportunity: New innovations are allowing manufacturers to create slimmer and more compact bottle designs without compromising on capacity or durability. Sustainable bottles made from recycled materials present an opportunity to appeal to health and environmentally-conscious consumers. Hydration monitors and trackers built into bottles can potentially support the fitness industry.
Threats: Increased health awareness is driving demand for other beverage options like flavored water and sports drinks, posing competition. Stricter regulations on plastic production may negatively impact bottle manufacturing costs. Dependence on seasonal participation in sports leaves sales susceptible to economic downturns reducing disposable incomes.
Key Takeaways
The Global Sports Water Bottles Market Trend is expected to witness high growth over the forecast period driven by rising participation in recreational sports and fitness activities worldwide. With increasing health consciousness, consumers are more invested in maintaining proper hydration during workouts. The global sports water bottles market is estimated to be valued at US$ 5871.79 Mn in 2023 and is expected to exhibit a CAGR of 10.% over the forecast period 2023 to 2030.
Regional analysis
North America currently dominates the global market owing to widespread popularity of sports and the fitness culture. The US accounts for the largest share in the region encouraged by growing obsession with personal wellness. Asia Pacific is projected to be the fastest growing regional market in the coming years led by countries like China, India, and Japan. Rising incomes are enabling active lifestyles with participation in sports at both professional and recreational levels.
Key players
Key players operating in the sports water bottles market include Clasado Biosciences, VW-Ingredients, Shandong Longli Biotechnology Co., Ltd, Prenexus Health., Ingredion, Tata Chemicals Ltd., Yakult Honsha Co., Ltd., Tate & Lyle, Roquette Frères, Cosucra, International Flavors & Fragrances Inc., Nestlé S.A., Renew Life, Mimi's Rock Corp, Procter & Gamble, AIDP, Hyperbiotics, Jarrow Formulas, Inc., InnovixLabs, Life Extension, Metabolic Maintenance, Naturesvelvet, and others prominent players.
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