Why The World Is Revamping The Reusable Water Bottle Market?
As we all know, single-use water bottles are made of plastic. And like all polymer-based compounds, the bottles are non-biodegradable and contain harmful elements that leach into the soil and the groundwater. In addition, they pose a major threat to the entire biodiversity as they cause land pollution, water pollution, and air pollution.
According to a report released by the World Wide Fund for Nature (WWF), as much as we turn a blind eye to the tons of plastics in our environment, they might render our planet’s demise. In fact, water creatures and land animals have been reported to have died of consuming plastics dumped in the sea and on land.
Based on the report, due to overproduction of plastics and low recycling, over 75% of the volume of plastics to ever been produced sits in our environment. It is even a sadder cry as the WWF projected that in the next 10 years more than 104 million metric tons of plastic could find a way into our environment. To burst the bubble for you, a small piece of plastic takes up to 10,000 years to decay.
The statistics showed it clearly that our environment faces a dark tunnel that does not just endanger it but the entire ecosystem. The world then decided to invest in the reusable water bottle market by embargoing the use of single-use water bottles for reusable water bottles to mitigate the impending crisis.
Reusable water bottles help revamp the environment’s health as they are in-disposable. Once single-use water bottles are dumped into the environment, they do not just take a long time to decay but also release Carbon (iv) oxide (CO2) into the atmosphere. CO2 is one of the main factors that contribute to global warming. Using reusable water bottles effectively reduces the chances of experiencing global warming.
This is one of the prime reasons why the world is adapting to reusable water bottles as they curb the planet from such harmful environmental crises. The adoption has gained traction as there is a noticeable increase in the value of the global reusable water bottle market. Its market cap was estimated at $8.1 billion (as of 2018) and is forecasted to grow at a CAGR of 4.1% between 2021 and 2028. Hence, its value is projected to reach 84.8 billion. This just depicts that the world is applying efforts to shield the environment from a possible plunge.
As the world continues to emphasize the necessity of reusable water bottles, people have heeded the directive and are transitioning from single-use water bottles. The wave has surged the demand for reusable water bottles and several bricks and motor stores, together with multinational online stores have backed the motion by dropping the price of one reusable water bottle.
The market has steadily gained traction as it has started recycling some of the dumped plastics to make polymer-based reusable water bottles. Yes, they have the polythene element but unlike the single-use water bottle, these bottles can be used again and again.
They are also durable and are made in different enticing designs. Some are imbued with several colors to catch the attention of the customer. However, the point is not to increase the number of sales per day but make a step closer to eradicating single-use water bottles from the environment.
In that case, the prices are fair. Currently, the price of one bottle hovers around $10. As alluded, they are available at e-commerce stores and any other supermarket store near you. The greater picture is that with just about $10, you get the chance to cut the cost of buying drinking water in single-use bottles, and at the same time, play a role in saving the environment from plastic pollution.
Conclusion
Reusable water bottles are vital in retrieving the environment from impending slumps rendered by plastic pollutions. If we fail to invest much in the reusable water bottle market, our environment will be in jeopardy. And it is debatable that this can be the result of our demise on this planet.
However, the world is showcasing great attention to reusable water bottles to mitigate the dumping of plastics and combat environmental crises. There is an admirable growth in the reusable water bottle market that gives a glimpse of hope we will solve the plastic pollution conundrum in due course.
Nice, have any more articles here?
Thanks, Stephen. One of the problems with reusable water bottles is they are often made with plastics themselves (as you note). They are an offshoot of the bottled water industry which in and of itself increases the carbon imprint by packaging and shipment all over the world. The best answer is to continue to work on providing safe and readily available drinking water to people all over the world. There are many innovative technologies being designed to do just this. The chicest thing is to drink cold water from a cooler or a readily available paper cup. A notre sante!
Nice article.
Did you just praise your own article? 😅
😅
Interesting, but how can this help me from an investment perspective? What are some companies in this market worth investing in?