Water Bottle Racks MarketSize and Trends

Market Dynamics:-

Increasing inclination of the populace towards urban lifestyle and growing awareness about benefits of bottled water is expected to drive growth of the global water bottle racks market. The major advantage of bottled water is that it is safe and convenient. Furthermore, bottled water is pure and filtered to remove any bacteria and harmful chemicals, leaving people feeling better and healthier.

These factors are expected to drive the global water bottle racks market growth during the forecast period. According to International Bottled Water Association, U.S. bottled water market generated a revenue of US$ 18,556 million in 2017 from US$ 14,143 million in 2014.

Market Outlook:-

Among product type, plastic segment is expected to boost the global water bottled rack market during the forecast period. Features such as hygiene, safety, lightweight, and durability have made plastic packaging popular. Rising trend of using plastic as a packaging material for bottled water includes the use of flexible packaging solutions. With the changing lifestyle of consumers, convenience is the major driving factor that is influencing their purchasing decisions. Moreover, water bottles, especially those made of glass, are more expensive, difficult to clean, and fragile, which is expected to create a disinclination among consumers to purchase plastic water bottles. Therefore, significant increase in demand for plastic water bottles is expected to drive the market growth of global water bottle racks during the forecast period.

According to India Brand Equity Foundation (IBEF), in 2010, the Indian plastics industry comprises around 55,000 plastic processing units, spread over both the organized and unorganized sectors. Moreover, in 2018, by exporting plastic, Indian plastic industry generated a revenue of US$ 3.47 billion.