Yahoo Finance Advancing Sensor Technology to Provide Smart Water Bottle US$ 35 Bn Market Opportunity by 2031 Witnessing a Growth of 11% CAGR - Future Market Insights, Inc.
East Asia is predicted to be one of the most attractive markets during the forecast period, according to FMI. The U.S. is likely to dominate smart water bottle market in North America. Rising demand for smart wearable technology is aiding the expansion of the market. Smart water bottles are integrated with in-built features designed to encourage healthy lifestyle habits among individuals. The India smart bottle market is anticipated to grow at a healthy CAGR in the South Asia smart water bottle market
NEWARK, Del, Aug. 17, 2022 (GLOBE NEWSWIRE) -- The global smart water bottle market is anticipated to reach US$ 35 Bn by the end of 2031, with sales growing at a prolific CAGR of 11% over the forecast period of 2021 to 2031. Smart water bottle market was valued at an estimated US$ 28 Bn in 2021. Rising concern over personal health, hygiene, and beauty is fueling the growth of the smart water bottle market.
Increasing adoption of smart water bottles is attributed to growing health consciousness among consumers, rising disposable income, and improved consumer experience. Integration of advanced technological tools like sensor technology, increasing GDP per capita, and advanced product offerings are likely to boost the target market possibilities.
Incorporation of sensor technology has enabled smart water bottles to estimate the amount of water an individual needs to consume daily on the basis of their height, weight, and other factors. This has also induced smart water bottle manufacturers to introduce new designs and features at affordable prices. These companies are also focusing on utilizing eco-friendly manufacturing processes and making use of recycled metal and polymers to promote sustainability and diversify their product base.
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Moreover, with growing health consciousness, people are concentrating on healthy dietary habits such as drinking plenty of water and keeping hydrated. Dehydration has been known to cause unclear thinking, change of mood, causing body heat to increase, and other health complications. Thus rising adoption of healthy habits is contributing to the surging demand for smart water bottles. All the aforementioned factors are expected to foster market growth for smart water bottles.
“Integration of sensor technology and focus on healthy living are likely to augment the market growth of smart water bottles over the forecast period,” says an FMI analyst.
Key Takeaways:
Use of plastic alternatives like recycled metal and polymer to boost market possibilities.
Commercialization of sensor technology to provide lucrative market opportunities.
The U.S. is expected to dominate the smart water bottle market in North America.
Reimbursement policies are driving demand in the market in Germany.
China's smart water bottles market is to present significant growth over the forecast period.
By type, polymer segment is likely to account for substantial market share.
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Competitive Landscape
Caktus, Inc., Ecomo, Groking Lab, Ltd., Hidrate, Inc., Open-2, Moikit, Thermos, LLC, Trago, Inc., Hydra Coach, Inc., Lifefuels, Inc., and others are some of the major players in the smart water bottle market that are profiled in the full version of the report.
More Insights into the Smart Water Bottle Market Report
In its latest report, FMI offers an unbiased analysis of the global smart water bottle market, providing historical data from 2016 to 2020 and forecast statistics for the period 2021 to 2031. To understand the global market potential, growth, and scope, the market is segmented based on type (metal, polymer, others), price range (below US$ 20, US$ 20-US$ 40, US$ 40-US$ 60, above US$ 60), sales channel (indirect (supermarkets/ hypermarkets, multi-brand stores, specialty stores, independent small stores, online retailers, other sales channels), direct), and region.
According to the latest FMI reports, based on region, the target market in North America is likely to be driven by the smart water bottle market in the U.S. Heightened demand for smart wearable technology, rising health awareness and growing concern over lifestyle diseases like diabetes and obesity is accountable for the market expansion in this region. The market in this region is primarily driven by millennials.
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China is predicted to dominate the smart water bottle market in East Asia. Components of most smart water bottles such as density and temperature sensors, lids, and LEDs, among others are mainly produced in China. Consequently, multiple market players have established their assembling and production unit in China. Thus, China is expected to present many attractive opportunities over the assessment period.
India, too, is anticipated to show significant growth over the forecast period. Rising demand for technology-driven products as well as the need to maintain a healthy lifestyle fuels the smart water bottle market in India. Furthermore, rising e-commerce and smartphone penetration also promotes regional market growth.
Based on segmentation, sales of polymer smart water bottle segment are likely to grow at a high rate. On the basis of the price range, the US$ 20 to US$ 40 category is expected to lead the market while indirect sales channels will continue to gain popularity.
Smart Water Bottle Market By Category
By Type:
Metal
Polymer
Others
By Price Range:
Below US$ 20
US$ 20- US$ 40
US$ 40- US$ 60
Above US$ 60
By Sales Channel:
Direct
Indirect
Supermarkets/ Hypermarkets
Multi-Brand Stores
Specialty Stores
Independent Small Stores
Online Retailers
Other Sales Channel
By Region:
North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East and Africa (MEA)
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Product Evolution Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Taxonomy
2.2. Market Definition
3. Key Market Trends
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