Kenneth Research, in its repository of market research reports, have recently added a report on Smart Bottle Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Smart Bottle Market products.
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By the end of 2050, the world’s population aged 60 years and above is anticipated to reach 2 billion, states the World Health Organization (WHO), in one of its statistics. Additionally, several manufacturers are increasingly showing interest for manufacturing healthy beverages, which is also anticipated to drive the growth of the market in the coming years.
Global Smart Bottle Market was valued at USD 94.62 Million in the year 2017. Global Smart Bottle Market is further estimated to grow at a CAGR of 16.31% from 2018 to reach USD 317.10 Million by the year 2025. North America region holds the highest Market share in 2017 and European Market is considered as the fastest growing Market in the forecasted period. At a country level, developed industry like the U.S. as well the emerging industry like UK & Germany hold a notable Market share in 2017 and are projected to grow at a gradual rate in the coming years.
The major players in Smart Bottle Market are Thermos L.L.C., Myhydrate, Kuvee Inc., AdhereTech Inc., Trago Inc., Sippo, Spritz Inc. and other 11 more companies information is provided in research report. Rising research and development expenses to cater changing demand of end users, similarly, growth strategies such as acquisition, merger, and expansion of the distribution network were few techniques adopted by most of the top manufacturers in recent years.
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SWOT Analysis of Smart Bottle Market
Strength
Increasing demand for smart technology from developed and developing countries
Weakness
High production cost & uninterrupted raw material supply
Opportunities
Growing health awareness
An inclination of end users towards using high tech products
Threats
High chances of duplicity from unorganized manufacturers
Market Segmentation
On the basis of Application includes Alcoholic Beverage Bottle, Water Bottle & Pharmaceutical Bottle of which the Water Bottle segment is expected to hold the highest Market share during the forecast period.
Smart Bottle industry Overview By Application
Alcoholic Beverage Bottle
Water Bottle
Pharmaceutical Bottle
Smart Bottle industry Overview By Mode of Distribution
Offline
Online
Smart Bottle industry Overview By Region
North America
*USA
*Canada
Europe
*Germany
*U.K.
*France
*Italy
*Rest of Europe
APAC
*China
*India
*Japan
*Rest of Asia-Pacific
RoW
*Latin America
*Middle East & Africa
Key points covered in this report:
- The historical and current data is provided in the report based on which the future projections are made and the industry analysis is performed.
- The import and export details along with consumption value and production capability of every region is mentioned in the report.
- Porter’s five forces analysis, value chain analysis, SWOT analysis are some additional important parameters used for the analysis of market growth.
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