The Global Biodegradable Water Bottles Market- Growth, COVID-19 impact and Forecast (2021-2025)
The Biodegradable Water Bottles market is segmented by Material type (Biodegradable Plastics and Organic Material); End-user (Specialty Purpose, Residential Use, Institutional Use); Geography (North America, Europe, APAC and ROW).
Introduction
The need of research for an alternative solution for plastic water bottles has risen, as plastic water bottles play a vital role in the environmental pollution. The biodegradable water bottle launch is a major technological invention toward controlling the waste of plastics.
Factors such as increased demand for eco-friendly packaging solutions, favourable government policies to reduce the use of petroleum-based polymers, emphasis on efficient plastic waste management or plastic disposal, growing food and beverage industry that is increasingly adopting packaging made from degradable and recyclable materials. are anticipated to fuel the demand for the market
Despite the current pandemic situation, the end-users of this market is recovering to operate in full capacities from 2021 beginning. Along with this, the recovering manufacturing activities across the globe are expected to mitigate to numerous potential negative impacts caused during COVID-19 and maximize their opportunities in future.
Table of Contents
Market Overview
The global biodegradable water bottles market is expected to grow to $3,236.40 million by 2025
Growth momentum is expected to accelerate during the forecast period with a 7.07% CAGR.
Growing consumer awareness regarding sustainable packaging, together with rising government bans in countries around the world related to single-use plastics, is expected to fuel the market growth.
APAC is dominating the biodegradable water bottles market
Key Trends
Emergence of bio-based raw ingredients such as derivatives of biomass and crop vegetables is expected to be majorly responsible for boosting market demand.
Many FMCG companies are adopting biodegradable water bottles to attain 100% circularity in the value chain and uses organic chemicals for labeling and printing for safer recycling of the product.
Key Market Players
Some of the key players in the market are Paper water bottle, Choose Water, Raepack, Lyspackaging, Ecologic Brands, Cove.
Industry players are focusing on R&D activities concerning new organic materials that mimic the properties of plastics currently in use. The companies are redesigning packaging to include less material, hence saving on the cost and producing less waste. Also, companies in the market are continuously involved in increasing their market presence by introducing new products, expanding their operations, or by entering into strategic mergers and acquisitions..
Growth Drivers and Challenges
Increasing the use of sustainable packaging in food and beverage industry is anticipated to drive the market growth.
The growing awareness regarding environmental conservation and sustainable living is one of the key drivers of the market
Stringent governmental regulations for environment protection and the industrial trend of incorporating renewably sourced materials in the manufacturing process, is also significantly catalyzing the market growth.
High recycling rates, lack of awareness of the value of sustainable packaging and weak recycling facilities are some important factors that hamper the growth of the industry
Not all biodegradable water bottles are decomposed in the natural environment, as they require a specific environment in terms of moisture and temperature.
Higher cost of biodegradable water bottles than that of conventional.