Global Sports Bottle Market 2017-2021
About Sports Bottle
Sports bottles are used to hold any kind of drink that fuels the workout during sports. They offer lightweight, convenient, and shatterproof properties. In addition, these bottles are used as a promotional item for fitness centers and sports events, such as a marathon. They can be used multiple times because of their reusability property.
Technavio’s analysts forecast the global sports bottle market to grow at a CAGR of 6.15% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global sports bottle market for 2017-2021. To calculate the market size, the report considers the revenue generated by different vendors through the sales of sports bottles made of several types of materials, which include plastic, stainless steel, aluminum, and glass.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Sports Bottle Market 2017-2021
Technavio recognizes the following companies as the key players in the global sports bottle market: PMI, Thermos, Tupperware, Vista Outdoor, and Zojirushi.
Other Prominent Vendors in the market are: Bottlesport, Bottles of Australia, Eurobottle, Garyline, Huffermen, Inpress Plastics, Nike, Polar Bottle, The Bottle Factory, US Poly Enterprise, and ZheJiang Haers Vacuum Containers.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Rising focus on sustainability. Vendors in the global sports bottle market are increasingly focusing on sustainability. This is because sustainability offers economic and social development with the help of environment-friendly and economic solutions.”
According to the report, one of the major drivers for this market is Increasing consumption of bottled water. With a rising focus toward health, taste, convenience, and designs, the consumption of bottled water is increasing. The global consumption of bottled water is expected to grow at a CAGR of more than 6% during the forecast period. With an increased prevalence of waterborne diseases and scarcity of tap water in both developed and developing countries, consumers prefer bottled water because of its better taste and quality.
Further, the report states that one of the major factors hindering the growth of this market is Availability of substitutes. There are several sports and energy drink manufacturers that sell their brand-name canned energy drinks, which act as a substitute for sports bottles. The global energy drinks market is expected to grow at a CAGR of more than 11% during the forecast period. With energy drink manufacturers coming up with their own solutions and products, it is becoming a challenge for the vendors in the global sports bottle market. For instance, in 2016, Lucozade, a sports and energy drinks manufacturer, launched a new bottle design with a textured grip. The bottle is available in eye-catching colors for its sports drinks.
PMI, Thermos, Tupperware, Vista Outdoor, and Zojirushi, Bottlesport, Bottles of Australia, Eurobottle, Garyline, Huffermen, Inpress Plastics, Nike, Polar Bottle, The Bottle Factory, US Poly Enterprise, and ZheJiang Haers Vacuum Containers.