The Global Smart Water Bottle market size was USD 16.16 Billion in 2022 and is likely to reach USD 67.94 Billion by 2031, expanding at a CAGR of 17.3% during 2023–2031. The growth of the market is attributed to the awareness among the people about maintaining hydration level in the body and rise in disposable income.
Smart water bottles are technically advanced water bottles, which guide users to regularly drink suitable amounts of water to maintain their hydration levels. These water bottles inform the user on quantity of water one must intake, based on their age, height, weight, and activity status as well as temperature and weather.
Bottles are extensively used by sportspersons for tracking the water intake in post and pre workout sessions. The bottles are typically connected to smartphones and digital watches through software. Smart bottle uses accelerometer technology and sensors to track water intake, accelerometer detect gravitational pull when bottle is tilted to take the sip and it also senses when bottle is put back after drinking.
The COVID-19 pandemic outbreak had considerable impact on the market. During the pandemic, the people were more about their health, which increased the demand of smart water bottle. However, the emergency lockdown imposed by government bodies, resulted in shortage of raw material required for manufacturing of smart water bottle.
Market Trends, Drivers, Restraints, and Opportunities
Rising health consciousness among the individuals across the globe is one of the key factors driving the market growth.
Growing government initiatives for reducing plastic waste and adopting reusable water bottle materials are projected to boost the market during the forecast period.
High cost of smart water bottle acts as a major challenge that can restrict the market growth in the coming years.
Shortening battery life of smart bottle is expected to hamper the market growth during the projected timeline.
Using sensors and Artificial Intelligence technology in bottle is anticipated to create significant growth opportunities for the market.
Scope of Smart Water Bottle Market Report
The report on the global smart water bottle market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Smart Water Bottle Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Distribution Channels (Offline and Online), Types (Polymer, Metal, and Others), and Components (Hydration Tracking Apps, In-built, and Hardware)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Ecomo Inc.; HidrateSpark Inc.; Moikit; Out of Galaxy, Inc.; Trago, Inc.; Caktus, Inc.; Groking Lab Ltd.; HydraCoach, Inc.; Open-2, LLC; and Thermos LLC
Smart Water Bottle Market Segment Insights
Online shopping drive the online segment
In terms of distribution channel, the market is bifurcated into offline and online. The online segment is expected to grow at a rapid pace during the forecast period due to increasing trend of online shopping. Additionally, easy availability of internet on laptop, smartphones, and other smart devices for online shopping is further driving segment growth.
However, the offline segment is anticipated to expand at a substantial CAGR in the coming years owing to several manufacturers that are focusing on launching company exclusive stores in order to establish their presence.
Polymer segment to expand at robust growth rate
Based on types, the global smart water bottle market is divided into polymer, metal, and others. The polymer segment is estimated to expand at robust growth rate during the forecast period due to adaption of polymer material by manufacturers as it is lightweight and durable. Furthermore, polymer does not allow heat transfer, which makes the temperature of fluid inside is a major driver of the segment.
On the other hand, the metal segment is projected to shrink at a considerable CAGR during the forecast period attributed to the heavyweight and transfer of metal test into water.
Hydration tracking apps segment to expand at high growth rate
On the basis of components, the market is fragmented into hydration tracking apps, in-built, and hardware. The hydration tracking apps segment is projected to expand at high growth rate in the projected timeline attributed to the key players, as they provide users with accurate information related to their daily water intake and enable them to set customized hydration goals.
On the other hand, the hardware segment is anticipated to register a substantial CAGR during the forecast period due to its ability of connecting with smart device of users providing easy access of information regarding water intake.
North America is to constitute a key market share
In terms of region, the global smart water bottle market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to constitute a key share of the market during the projected period owing to presence of key global plyers in the region. However, the Asia Pacific market is anticipated to grow at a rapid pace during the forecast period due to the increased awareness among individuals in the region towards maintaining the hydration levels in the body.
The global smart water bottle market has been segmented on the basis of
- Hydration Tracking Apps
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- Ecomo Inc.
- Thermos LLC
- HidrateSpark Inc.
- Out of Galaxy, Inc.
- Trago, Inc.
- Caktus, Inc.
- Groking Lab Ltd.
- HydraCoach, Inc.
- Open-2, LLC
Key players competing in the global smart water bottle market are Ecomo Inc.; HidrateSpark Inc.; Moikit; Out of Galaxy, Inc.; Trago, Inc.; Caktus, Inc.; Groking Lab Ltd.; HydraCoach, Inc.; Open-2, LLC; and Thermos LLC. Companies are focusing on adapting innovative promotional strategies for attracting consumers with all age groups. Furthermore, companies have been widely engaged in strategic partnership, merger & acquisition, new product launch, and collaborations to boost their market share and acquiring new buyers.
For instance, in September 2019, Lifefuels, a company of beverage technology launched the smart nutrition bottle. The innovative smart nutrition bottle is with three part systems, such as a flavorful and nutritious multi-serve FuelPods, sleek, and smart water bottle. Smart nutrition bottle also includes an app for tracking both nutrition and hydration in the user.