Smart Bottle Market: Global Industry Analysis and Forecast (2023-2029)

Smart Bottle Market was valued at US$ 151.46 Mn. in 2022. Global Smart Bottle Market size is estimated to grow at a CAGR of 13.2%.
Smart Bottle Market Overview:
A smart bottle is a device that tracks a person's water intake using sensor technologies. Smart bottle uses sensor technology, which is generally found in the cap of the bottle, to determine how much water a person is drinking. Temperature sensors, freshness timers, drinking reminders, and daily hydration data are the elements of a smart bottle. These characteristics assist the drinker in determining when to refill their bottle, how frequently they drink, and how much more water they should include in their daily goal. The growing number of consumers who are conscious and who need to maintain strength and fitness are fueling the growth of the Smart bottle market across the globe.
Smart Bottle Market Snapshot
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Smart Bottle Market Dynamics:
IoT technology is being used in several industries to create customer-friendly and intelligent goods. Smart items are linked to other smart devices to enable one-to-one communication using Internet of Things (IoT) technologies. IoT technologies connect product creators and consumers to get real-time usage data. For example, smart bottles with measurement use IoT technology to link with smart devices that have an app to collect usage data. As a result, the growing adoption of IoT for smart bottle products is expected to boost the smart bottle market growth over the forecast period.

The smart bottle market is showing northward direction growth, thanks to the boosted by growing health consciousness among youth and adults population, along with increased awareness of hydration technology. In addition, the growing demand for fitness trackers, gym accessories, along wireless technology is expected to boost the smart bottle market growth throughout the forecast period.

The growing awareness of the importance of adequate water consumption among people of various age groups is expected to propel the smart bottle market growth through the forecast period. According to the MMR research report, the global health industry has generated more than US$ 117000 million in 2022. The smart bottle market is expected to grow significantly as consumers continue to place a high value on health and pay heavily in clubs and services to maintain fitness across the globe.

The high cost of smart bottles is expected to be a major hurdle for the smart bottle market growth over the forecast period. As smart bottles are developed with sensor technology and feature key technical capabilities such as information about the user's hydration level and are connected with mobile apps, the cost is expected to increase significantly over the forecast period. In addition, the average battery life of a smart bottle is 6 months, which is considerably reduced by notifications or the time spent connecting it to any mobile app, resulting in inaccuracy. As a result, the decrease in battery life is seen as a major issue slowing the growth of the smart bottle market.
Smart Bottle Market Segment Analysis:
Based on the Platform, the Smart Bottle Market is segmented into Built Hardware, Hydration Tracking Applications, and others. The Hydration Tracking Applications segment held the largest market share, accounting for 63.17% in 2022. The majority of smart bottle manufacturers provide accurate information about daily water intake along with the ability to set tailored hydration goals for their customers. The applications are becoming personal systems to help users to reach daily goals as hydration technology has become central for youth and adults. The built-in hardware technology is assisting in the increased adoption of smart bottles. As a result, the demand for a healthy lifestyle grows and people become more conscious of the importance of drinking more water, smart water bottles will become more popular, which in turn is expected to boost the smart bottle market growth for this segment.

Based on the Distribution Channel, the Smart Bottle Market is segmented into online and Offline. The Online Distribution Channel segment held the largest market share, accounting for 64.22% in 2022. The smart water bottles are currently not available in retail stores and other offline retailers, the majority of sales are made through the online distribution channel. The online distribution channel is expected to grow at a CAGR of 11.3% during the forecast period. Customers frequently prefer to purchase goods and services on the internet. As a result, the market for smart bottles as fitness trackers and gym accessories is expected to grow as e-commerce platforms increase online sales. According to the current trend, smart bottle producers partner with electronics retailers rather than consumer stores, which is also driving the smart bottle market across the globe.
Smart Bottle Market Regional Insights:
North America region held the largest market share accounted for 46.93% in 2022. The growing need for improved fitness tracking systems, along with the growing per capita income of consumers, are fuelling the smart bottle market growth in the region. The rising consumer interest in health clubs, and the use of technology-enabled gym equipment along with fitness trackers, are driving the smart bottle market growth in North America. According to IHRSA, the health club industry in the United States was valued at US$ 39170 million in 2022. In addition, the growing usage of smart wearable technology is also expected to boost the smart bottle market growth through the forecast period.

Asia Pacific region is expected to witness significant growth at a CAGR of 14.37% during the forecast period. The region's growth is attributed to growing awareness regarding the importance of maintaining hydration levels in the body are boosting the usage of smart bottles. The governments of countries like India and China are taking initiatives to reduce plastic waste production and promote the use of recyclable materials, which leads to increasing the production of smart bottles in the region.

The objective of the report is to present a comprehensive analysis of the global Smart Bottle Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Smart Bottle Market dynamic, structure by analyzing the market segments and projecting the Smart Bottle Market size. Clear representation of competitive analysis of key players by Distribution Channel, price, financial position, product portfolio, growth strategies, and regional presence in the Market make the report investor’s guide.
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Smart Bottle Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 151.46 Mn.


Forecast Period 2023 to 2029 CAGR:
13.2%
Market Size in 2029:
US $ 360.76 Mn.


 Segments Covered:
by  Platform
Built Hardware
Hydration Tracking Applications
Others


by Distribution Channel
Online
Offline


by Application
 Water bottle
Pharmaceutical Bottle
Others



Smart Bottle Market by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina, Columbia and Rest of South America)
Smart Bottle Market, Key Players are
1. Hidrate Inc.
2. Myhydrate
3. Kuvee, Inc.
4. Thermos LLC
5. Adheretech Inc.
6. Sippo
7. Trago, Inc
8. Spritz
9. Hydrasmart
10. Ecomo Inc.
11. Indiegogo, Inc.
12. Caktus Inc.
13. Groking Lab Limited
14. Moikit
15. Open-2, LLC
16. Out of Galaxy
17. Thermos L.L.C.
18. Lifefuels, Inc.
19. Intelligi LLC.
20. Ozmo

Frequently Asked Questions:

1] What segments are covered in the Market report?
Ans. The segments covered in the Market report are based on Platform, Distribution Channel, and Application.

2] Which region is expected to hold the highest share in the Market?
Ans. The Asia Pacific region is expected to hold the highest share in the Market.

3] What is the market size of the Market by 2029?
Ans. The market size of the Market by 2029 is US$ 360.76 Mn.

4] What is the forecast period for the Market?
Ans. The forecast period for the Market is 2023-2029.

5] What was the market size of the Market in 2022?
Ans. The market size of the Market in 2022 was US$ 151.46 Mn.