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The biodegradable water bottles market is anticipated to exceed the value of US$ 3.6 Bn by 2030 and is projected to grow at a CAGR of 5.0% from 2022 to 2030.

WILMINGTON, DELAWARE, USA, June 17, 2022 /EINPresswire.com/ -- Transparency Market Research delivers key insights into the biodegradable water bottles market in its published report, which include global industry analysis, size, share, growth, trends, and forecast for 2020-2030. In terms of growth, the global biodegradable water bottles market is estimated to expand 1.5 times the current market value by the end of 2030, owing to the increasing scope of biodegradable water bottles in end-use applications such as residential, commercial, institutional, and for a special purpose. Regarding this, TMR offers detailed insights and forecasts in the biodegradable water bottles market report.

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The need for research for an alternative solution for plastic water bottles has risen, as plastic water bottles play a vital role in environmental pollution. The biodegradable water bottle launch is a major technological invention toward controlling the waste of plastics. Biodegradable water bottles are usually made of plants such as bamboo, algae, sugarcane, pulp, paper, and various biodegradable plastic such as polylactic acid (PLA), starch-based plastics, poly-butylene succinate (PBS), Polyhydroxyalkanoates (PHA), and Polyhydroxybutyrate (PHB), which are easily decomposed in the soil within 100 days. The production of these materials does not use fossil fuels, which are hazardous to soil or water. The plaguing oceans have also become a major issue in current times and increasing at a very fast rate. Following this, many companies are preferring and promote environmentally sustainable products. Due to these reasons, growth in demand for biodegradable water bottles is expected to grow strongly during the forecast period.

Rise in Awareness about Environment Protection among Youth to Drive Global Market

People today are becoming more careful about packaging materials of products. Water bottles are among the major products used while traveling and are a basic human need. In order to avoid future consequences, most people have started to be concerned about the material of water bottles available in the market. A massive amount of plastic waste is generated every day which has harmful and long-term impacts on the environment. In order to avoid this, biodegradable water bottles are witnessing demand.

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Increase in Demand for Bottled Water to Offer Lucrative Opportunities

During the COVID-19 outbreak, bottled water is one of the solutions that started to gain importance due to increased preference for hygienic and safe drinking measures. This has become a major factor in fueling the demand for biodegradable water bottles.

Biodegradable Water Bottles Market: Competition Landscape

The global biodegradable water bottles market is highly fragmented in nature wherein the larger portion of market share is held by domestic market players. Some of the key players operating in the global biodegradable water bottles market are Paper Water Bottle, Choose Water, Lyspackaging, Repack Ltd., Ecologic Brands Inc., Montana Private Reserve, Cove, and Just Water, Mitsubishi Chemicals (MCPP), and TSL Plastics Ltd.

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The tier structure is formulated on the basis of segmental revenue and market share of the company. As per tier structure, Paper Water Bottle, Choose Water, and Lyspackaging are the tier 1 players in the biodegradable water bottle market. These players are focusing on widening their product portfolio for multiple applications to gain a competitive edge in the market. Tier 2 players include TSL Plastics Ltd., Montana Private Reserve, Cove, and Just Water.

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Transparency Market Research is a global market research reports company providing business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information.

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