Market Research Future (MRFR) has published on the “Global Smart Water Bottle Market”.
The Smart Water Bottle Market is estimated to register a CAGR of 11.50% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global Smart Water Bottle Market— HidrateSpark, HydraCoach, Thermos, MyHydrate, Moikit, Trago, Ozmo, ICE WATER, Aquagenie, Adheretech, Groking Lab Limited, Caktus Inc., Open-2 Llc., and Out of Galaxy Inc.
Market Highlights
The global Smart Water Bottle Market is accounted to register a CAGR of 11.50% during the forecast period and is estimated to reach USD 85.76 billion by 2032.
The surging health consciousness among both the younger and adult demographic, coupled with the growing recognition of hydration technology, is augmenting the smart bottle market. Moreover, the escalating demand for fitness trackers, gym accessories, and similar products has spurred the advancement of smart water bottles with wireless technology, further propelling the smart water bottle industry.
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Segment Analysis
The global Smart Water Bottle Market has been segmented based on the Type, Technology, Price Range, Sales Channel, and Components.
Based on the Type, the market is segmented into Polymer, Metal, Stainless Steel, Flexible Films, Glass, and Others. The Metal segment was attributed to holding the largest market share in 2022. Smart bottles with metal construction, including stainless steel or aluminum, have gained popularity in the market due to their robustness, insulation capabilities, and premium aesthetic appeal. These bottles are favored by users seeking sustainability, as they are reusable and contribute to a lower environmental footprint compared to single-use plastic bottles. However, it's important to note that metal-based smart bottles are generally heavier and exhibit less flexibility in design when compared to their polymer-based counterparts.
Based on the Technology, the Smart Water Bottle Market has been segmented into Sensors and Lights. The Sensors segment was expected to hold the largest market share in 2022. Smart water bottles frequently integrate temperature sensors to enable users to monitor and control the temperature of their beverages. This capability proves especially advantageous for individuals with specific preferences for beverage temperatures, including athletes and those with particular taste preferences.
Based on the Price Range, the Smart Water Bottle Market has been segmented into Low, Medium, and High. The Medium segment was expected to hold the largest market share in 2022. The mid-range segment addresses the needs of consumers looking for a combination of advanced features and cost-effectiveness. Within this category, smart water bottles typically provide a variety of functionalities without the elevated cost associated with high-end models.
Based on the Sales Channel, the Smart Water Bottle Market has been segmented into Offline and Online Retail. The Online Retail segment was expected to hold the largest market share in 2022. Customers are increasingly favoring online distribution channels, leading to a surge in sales through e-commerce platforms. This trend, coupled with the convenience of online payment options, is expected to drive the market for smart water bottles positioned as fitness trackers and gym accessories.
Based on the Components, the Smart Water Bottle Market has been segmented into Hydration Tracking, Hardware, and In-Built. The Hydration Tracking segment was expected to hold the largest market share in 2022. Most smart bottle manufacturers offer precise details about daily water consumption and empower users to establish customized hydration objectives. The associated applications are evolving into personalized systems that aid users in achieving their daily hydration targets, emphasizing the pivotal role of hydration technology for both young and adult demographics.
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Regional Analysis
The global Smart Water Bottle Market, based on region, has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America consists of the US and Canada. The Europe Smart Water Bottle Market comprises Germany, France, the UK, Italy, Spain, and the rest of Europe. The Smart Water Bottle Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World's Smart Water Bottle Market comprises the Middle East, Africa, and Latin America.
The largest market share for the Smart Water Bottle Market was maintained by the North American regional sector. The increasing demand for enhanced fitness tracking systems, coupled with the rising per capita income of consumers, is driving the growth of the smart bottle market in the region. The growing consumer engagement with health clubs and the utilization of technology-enabled gym equipment, along with fitness trackers, contribute to the expansion of the smart bottle market in North America. As reported by IHRSA, the health club industry in the United States achieved a valuation of US$ 39,170 million in 2022. Additionally, the surging adoption of smart wearable technology is anticipated to propel the growth of the smart bottle market further throughout the forecast period.
Moreover, the Europe market has been persistently growing over the forecast period. The rising prevalence of smart technologies and interconnected devices in Europe is fostering demand for inventive products such as smart water bottles. Consumers in the region are displaying heightened health consciousness and actively searching for solutions that enable them to monitor and enhance their hydration routines. According to GWI estimates, workplace wellness programs and services, which are predominantly concentrated in Europe, are accessible to only 10% of the global workforce.
The Asia-Pacific region expansion is driven by a growing awareness of the significance of maintaining optimal hydration levels, which is fostering the adoption of smart bottles. Initiatives by governments in countries like India and China to curb plastic waste production and encourage the use of recyclable materials are contributing to the increased production of smart bottles in the region, making it the fastest-growing market.
Furthermore, the rest of the world's Smart Water Bottle Market is divided into the Middle East, Africa, and Latin America. The increasing desire for technologically advanced products that enhance daily routines and promote a healthy lifestyle is expected to propel the smart water bottle market in this region. Additionally, the market is poised to benefit from the expanding presence of e-commerce and the widespread adoption of smartphones in the region.
Key Findings of the Study
- The global Smart Water Bottle Market is expected to reach USD 85.76 billion by 2032, at a CAGR of 11.50% during the forecast period.
- The Asia-Pacific region accounted for the fastest-growing global market due to the region's increasing adoption of technology-enabled products. People's increasing disposable income is causing a rapid transformation in their lifestyle.
- Based on Type, the Metal segment was attributed to holding the largest market in 2022, with an approximate market share of 55–60%.
- HidrateSpark, HydraCoach, Thermos, MyHydrate, Moikit, Trago, Ozmo, ICE WATER, Aquagenie, Adheretech, Groking Lab Limited, Caktus Inc., Open-2 Llc., and Out of Galaxy Inc. are the key market players.
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Companies Covered | 15 |
Pages | 128 |
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