March 25, 2020
Water Bottle Racks Market Witnessing High Growth By Key Players
Water Bottle Racks: Introduction
- Water bottle racks are used to keep water bottles of different sizes. Water bottle racks are available in the market in different sizes and shapes.
Key Drivers of the Global Water Bottle Racks Market
- Growing consumer awareness about the benefits of drinking clean water in both urban and rural areas is boosting the market growth.
- Bottled water is filtered and a pure form of water after the bacteria and harmful chemicals are removed. Bottled water helps quench thirst and makes the person feel satisfied. This factor is expected to create demand for water bottle racks in the coming years.
- Increasing demand for smart water bottles in developed counties such as the U.S., U.K., France, and Germany is expected to generate demand for small sized water bottle racks.
Growth Opportunity from Developing Countries
- Governments of developing countries across the world including India, China, South Africa, Mexico, and Brazil are investing in health awareness campaigns which spurs the demand for clean water. Water bottle is a convenient and budget friendly option to store clean drinking water which is likely to create a market avenue in the water bottle rack market.
Rising Penetration of Alternative Products
- Growing penetration of water purifiers in residential and commercial places is expected to restrict the market growth of water bottle racks. The average cost of water purifiers has come down over the past few years which is encouraging consumers to install water purifiers instead of using water bottles. This is likely to decrease the demand for water bottle racks in the coming years.
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Asia Pacific to Hold Major Share of the Global Water Bottle Racks Market
- Asia Pacific is the largest and fastest growing water bottle racks market as a result of increasing requirement of drinkable water in urban cities of developing countries such as India, China, and Sri Lanka. Increase in disposable income among the middle class population coupled with consumers spending on health and hygiene products is propelling the demand for clean drinking water. Furthermore, large number of convenience stores provide water bottle home delivery services which is driving demand for water bottles and water bottle racks.
- The water bottle rack market in Middle East & Africa is also growing significantly. Water bottle racks are used in households as well as in commercial places including bars & restaurants and in the hospitality industry in Saudi Arabia, South Africa, UAE, and other countries. Many small, medium, and large companies are present across this region. In addition, increasing sales through e-commerce channels is expected to further boost the market growth.