Europe Reusable Water Bottle Market Growth & Trends
The Europe reusable water bottle market size is expected to reach USD 2.36 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 4.1% from 2021 to 2028. The increasing threat of plastic pollution, coupled with the severe environmental consequences of single-use and disposable water bottles, is propelling the demand for reusable bottles. An average reusable bottle ranges from USD 5 to USD 10. An average plastic bottle costs around USD 1 but could range up to USD 3 depending on the type. Although plastic bottles are cheaper per bottle, they are much more expensive in the long run, both in terms of individual spending and environmental degradation.
Consumers across the region are increasingly opting for reusable water bottles at workplaces, colleges, schools, and homes. These reusable bottles reduce the plastic burden on landfills, the main cause of groundwater pollution. Moreover, the growing awareness regarding the harmful environmental effects of disposable and single-use plastic bottles, along with a significant increase in plastic waste in oceans and landfills, is promoting the use of reusable water bottles.
According to the statistics provided as part of Beat Plastic Pollution, a UN Environment Program, around one million plastic drinking bottles are purchased every minute across the globe. These bottles are mainly responsible for the large-scale plastic pollution across the oceans and landfills. The same source also indicated that approximately 348 million tons of plastic are generated across the globe every year. Europe accounts for 60 million tons, about half of which gets thrown away and only about 30% of that waste is recycled.
Reusable stainless steel water bottles have become a popular choice among consumers owing to their temperature control attributes. The metal is capable of retaining the temperature of hot or cold water as desired. The insulated design of steel bottles has been widely appreciated by consumers. In addition to positive customer feedback, the FDA’s declaration on the safety of stainless steel has driven manufacturers to introduce these products in trendy and user-friendly designs.
E-commerce is becoming popular as the most preferred distribution channel owing to the high convenience associated with it. Customers are buying these bottles through online portals as a wide range of products is available. In addition, in the wake of the COVID-19 pandemic, consumers have refrained from physical shopping and largely opted for online purchases. This scenario has driven the manufacturers, both local and established ones, to increasingly distribute their products via online channels. For instance, this trend has encouraged many new entrants and existing companies such as 24Bottles, The Friendly Cup, and United Bottles to drive up sales using online traction.
With a fine blend of technological innovation and customization, the market is exploring new aspects of product development. For instance, in 2018, LARQ launched the world’s first self-cleaning water bottle as well as the largest crowdfunded effort for a clean water initiative, with over USD 1.7 million raised in funding. The company witnessed a 400% increase in revenue year-on-year in 2020 and an 80% increase in conversion rate in 3 months.
Europe Reusable Water Bottle Market Report Highlights
- By material, the steel segment is projected to expand at the fastest revenue-based CAGR of 5.0% from 2021 to 2028
- By type, the non-insulated segment accounted for the largest revenue share of over 77.0% in 2020 and is expected to maintain its lead in the years to come
- Germany held the largest revenue share of 28.7% in 2020 and is foreseen to remain at the forefront over the forecast period