A study by Transparency Market Research (TMR) states that the global biodegradable water bottles market is estimated to register growth at a CAGR of 5% during the forecast period 2020 to 2030 and attain a valuation of more than US$ 3.6 Bn by 2030.
Players operating in the global biodegradable water bottles market are observing rise in the demand for convenient packaging and products with attractive designs. Hence, they are focusing on strengthening their production capabilities in such products. This factor is expected to help in the expansion of the global biodegradable water bottles market in the forecast period.
Biodegradable water bottles manufacturing companies across the globe are increasing investments in R&Ds in order to develop innovative products. For instance, several enterprises are increasing research for the development of compostable or biodegradable paper water bottles. This aside, manufacturers are concentrating on offering best biodegradable water bottles at reasonable prices. Such initiatives are estimated to result into profitable avenues in the future of biodegradable water bottles market.
Several enterprises in the biodegradable water bottles market are utilizing technological advancements such as predictive analytics software in order to obtain an estimate of their product sales. Such developments are prognosticated to play key role in the market growth during the forecast period.
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Biodegradable Water Bottles Market: Key Findings
- Due to increase in understanding among people from across the globe about environmental concerns, this population base is inclining toward avoiding use of products manufactured using plastics and adopting sustainable products. This factor is resulting into a surge in the demand for biodegradable products including water bottles, which in turn, is boosting the sales growth in the global biodegradable water bottles market.
- Biodegradable water bottles are gaining traction owing to a wide range of advantages they offer including their recyclability, degradability, durability, flexibility, printability, and heat resistance. Hence, rise in the product adoption is fueling sales in the market. The government authorities of several nations globally are taking initiatives to support programs pertaining to the environment conservation and reduction in the plastic pollution. Hence, they are executing policies such as the single-use ban on plastics. These factors are prognosticated to drive the demand opportunities in the global biodegradable water bottles market, note analysts at TMR.
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Biodegradable Water Bottles Market: Growth Boosters
- Increasing use of biodegradable water bottles in specialty end-use applications including travel, sports, and gym as a convenient packaging option is driving the sales in the global market
- Surge in the adoption of environmental-friendly alternatives by sizable population pool globally is propelling the biodegradable water bottles market
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Biodegradable Water Bottles Market: Regional Analysis
- The biodegradable water bottles market in North America is estimated to maintain its dominant position during the forecast period owing to rise in understanding among regional population about advantages of biodegradable water bottles and surge in adoption of sustainable products in the region
- The Asia Pacific biodegradable water bottles market is prognosticated to expand at a CAGR of 6.7% during the forecast period. The growth of the regional market is ascribed to many factors including a surge in awareness on environmental protection among the regional consumers
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Biodegradable Water Bottles Market: Key Players
Some of the key players profiled in the report are:
- Lyspackaging
- Paper Water Bottle
- PLAbottles.eu
- UrthPact LLC
- Ecologic Brands Inc.
- Wenzhou YAQI Plastic Products Co., Ltd
- Cove
- Montana Private Reserve
- TSL Plastics Ltd.
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