Market Research Blog

The global blanket market  grew at approximately 4.5% CAGR in the forecast year, reaching a market valuation of US$ ~7 Bn in 2020.

Customers in the US especially, the working class are highly keen on premium and luxury products in their residential areas, therefore, the blanket market is projected to grow with a CAGR of over ~4%. Also, with the rapidly evolving lifestyle patterns and urbanization, the possession of houses is growing in the US, which is likely to enable growth in terms of volume of sales of the blanket market.

The global blanket market in its parent industry, global home bedding industry hold a share of around ~1%. The worldwide blanket market holds a stake of around 1% in its parent sector, the global home bedding industry.

As per newly released data by Future Market Insights (FMI), the demand in the blanket market grew at approximately 4.5% CAGR in the forecast year, reaching a market valuation of US$ ~7 Bn in 2020.

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Key Points Covered in Blanket Market Survey

• Market estimates and forecast 2013-2027
• Key drivers and restraints impacting market growth
• Segment-wise, Country-wise, and Region-wise Analysis

Besides launching eco-friendly products, companies are partnering with environmental protection groups to promote cruelty-free and chemical-free manufacturing. Such efforts undertaken by various organizations such as Shades of Green, Boll & Branch, and Pottery Barn are likely to promote sustainable and eco-friendly bedding and help the market grow.

Key Takeaways from the Plush Blanket Market Study

• Full-size blankets are expected to hold the leading revenue share of 21.4% in the market in 2021.
• The U.S. will hold a share 87.7% in North America in 2021, owing to the high penetration of key players in the country.
• India is a key market in South Asia, registering growth at above 10.3% CAGR owing to higher spending on premium products in the country and increasing development in the real estate category.
• Europe will continue showcasing lucrative opportunities for the plush blanket market. Demand in Germany and the U.K. will continue supporting growth in the region.

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Who is Winning?

Some of the leading players in the market are Berkshire Blanket & Home Co., American Blanket Company, FleecePro, Sunbeam Products, Inc., ADORNit, Plush Addict Ltd., Robert Kaufman Co., Inc., Shannon Fabrics Inc., Venus Group, The Company Store, The Northwest Company, among others.

Market players are focusing on the expansion of their product portfolio. Some of them are increase their sales by expanding their business portfolio by collaborating with e-commerce supply channels.

For instance, in 2021, PIXERS launched a customized plush blanket that is soft and warm, suitable for the bedroom, kid’s room and the living room as a bedspread or additional cover. This factor helps the company to gain customer attention in the market.

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Global Blanket Market by Category

By Product Type:

• Electric Blanket
• Regular Blanket

By Material Type:

• Wool
• Cotton
• Polyester
• Others

By End-User:

• Residential
• Commercial

By Sales Channel:

• Wholesalers/ Distributors
• Hypermarkets/ Supermarkets
• Specialty Stores
• Multi-brand Stores
• Independent Small Retailers
• Online Retailers
• Others

By Region:

• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• Middle East & Africa

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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 5-years.

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The river cruises market is expected to reach US$ 1.71 Billion in 2032, likely to surge at a vigorous 2% CAGR during the forecast period of 2022 – 2032R.

iver cruises is now a major tourist industry in different parts of the world. In a river cruise, the ship is smaller and carriers fewer people than in an ocean liner. Also, since the river cruiser is smaller, these type of ships can travel in a river and in shallow waters and gives the traveller a chance to explore vibrating cities and laid back towns and villages, and also go in unexplored areas where large ships cannot go.

River cruises as an industry is flourishing in Europe, United States, South East Asia, and Africa. Some popular locations on river cruises include London, Paris, Amsterdam, Budapest, Bangkok, Singapore, Ho Chi Minh City, New York, San Antonio, Luxor and Cairo.

River Cruises: Drivers and Restraints 

Most river cruises give the luxury of unpacking only once and then the traveller is all set to enjoy the sights and sounds of their river cruise.

River cruises are relaxing, giving the traveller a reprieve from the fast paced urban life and offer great food and great chances of exploring interesting cities, towns and villages that large ships cannot go to because of size limitations. These are some of the drivers that are boosting the river cruises industry worldwide.

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However, the traveller must remember that once in a river cruise, the traveller will have to follow the schedule set by the organisers. If the traveller finds one place more interesting, they cannot stay at that place longer, because the river cruiser has to leave the said port. In addition, some of the river cruises are only meant for adults and they are not meant for children. This limits the adoption of river cruises as a vacation option.

River Cruises: Description  

Since river cruise ships tend to be smaller than the ocean cruisers, the travelling experience in river cruisers can be intimate and travelling in some of these cruisers can be really fun.

There is no mad rush to get back to the hotel, as the hotel is always a walk away on the river bank. Also, you have to unpack only once, since you don’t need to change your hotel room always when you are in a different city or a town, the ship is always nearby.

However, the traveller must keep in mind that river cruises are a rather subdued affair as compared to life in an ocean liner where you can dine in different restaurants every night or spend the whole night in a casino. In contrast, since the river cruisers are smaller, the experience on board one is far more intimate and relaxed. Also, unlike an ocean cruise, land is always in sight in a river cruise and the traveller isn’t at a risk of getting motion sickness.

The biggest advantage while on a river cruise is that the traveller doesn’t need to plan each and every step of the travel, since once you book a river cruise, everything is taken care of and the traveller just has to follow the schedule of the river cruiser. Also, since the size of the river cruiser is much smaller, the traveller gets to know each and every one in their group as the number of people travelling together is far lesser.

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This leads to a first-hand experience to know different travellers from different walks of life and there is an advantage of getting personalised service from the crew of the river cruiser. Due to all these advantages and the lure of an intimate and a laid back holiday, many travellers are getting attracted to river cruises and such cruises are getting more and more popular.

This comprehensive report equips readers with lucid information and analysis on the sector. Future Market Insights’ experienced travel and tourism analysts bring to you accurate and unbiased information to help you make crucial decisions with confidence.

Key Segments Profiled in the River Cruises Market Survey

By Type:

• Onboard facilities
• Passenger tickets

By Age Group:

• 15-25 Years
• 26-35 Years
• 36-45 Years
• 46-55 Years
• 56-65 Years
• 66-75 Years

By Customer Orientation:

• Male
• Female
• Others

About FMI:

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

Unit No: 1602-006
Jumeirah Bay 2
Plot No: JLT-PH2-X2A
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The global singapore tourism market is projected to garner a revenue of US$ 27 billion in 2022, surpassing US$ 39.9 billion by 2032, advancing at a CAGR of 4% during the forecast period (2022-2032).

In a country that has the world’s lowest crime rates, the tourism in Singapore is a major industry and contributor to the country’s economy.

According to the Travel and Tourism Competitiveness report 2015, Singapore’s international openness, business environment and travel and tourism policy bestowed it with the 11th rank out of 141 countries. Singapore is safe and environmentally friendly and also preserves natural and heritage conservation programs.

Singapore’s public transport system is one of the most convenient transport services across the globe. It has a well-known Mass Rapid Transit (MRT) transportation system that is extremely convenient for tourists. Fine dining, nature sight-seeing, cultural and historical landmarks, island resorts and several shopping belts are the main tourist attractions in Singapore.

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Singapore Tourism: Sector Forecast and Spend Analysis – Drivers and Restraints

The Singapore government’s initiative in branding the country’s story has deeper roots in its cultural and historical identity. Such brand stories are giving wider scope to appeal to the more demanding consumers. This factor is particularly creating promising growth in the tourism sector in Singapore.

Another notable effort by the Singapore government includes targeting the right tourists – working millennials who include young single tourists or couples who are employed, families with kids, senior citizens, and business travellers. This is creating robust development in the growth of Singapore tourism. Apart from governmental initiatives there are various other factors that are creating robust development in the country’s tourism sector.

Singapore is safe, clean and efficient. It is one of the safest cities because of its stringent laws. There are no religious or racial tensions. More importantly citizens of Singapore can communicate in English, and tourists therefore do not have to face any language barriers. All these factors are attracting a large number of tourists and as a result, tourism is growing at a very fast rate in Singapore. However, there are few things that are restricting tourists from visiting Singapore.

One of the main restraints is the cost factor. Singapore is very expensive. Compared to other Asian countries, hotels, shopping, taxis and eating is very expensive in Singapore. Tourists also feel that the beaches in Singapore are not happening as in Australia. These factors are hampering the growth of the Singapore tourism industry.

Singapore Tourism: Spend Analysis

According to the World Travel and Tourism Council (WTTC), travel and tourism generated a total impact of $US 66 billion of Singapore’s GDP in 2014. The total impact of the travel and tourism sector on the GDP is greater than other sectors such as retail, banking, manufacturing, and automotive. Travel and tourism is a significant source of export revenue for Singapore.

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According to the WTTC, money spent by foreign visitors to a country is a key component of the direct contribution of travel and tourism. In 2014, Singapore generated SGD 23.9 billion in visitor exports

Also, spending on leisure travelling generated 51.0% of the travel and tourism GDP in 2014 (SGD17.6bn). This particular spending is expected to rise by 2.4% pa to SGD 22.6 billion in 2025. Domestic travel spending generated 30.7% of direct Travel & Tourism GDP in 2014 and is expected to grow by 3.0% in 2015 to SGD 10.9 billion, and rise by 3.1% pa to SGD 14.8 billion in 2025.

 According to the Singapore Tourism Board, fashion and accessories remained the most popular shopping item in terms of amount spent and popularity. Cosmetics, food items, consumer technology, souvenir and gifts, genuine jewellery and watches and clocks are the other items being shopped for.

This comprehensive report equips readers with lucid information and analysis on the sector. Future Market Insights’ experienced travel and tourism analysts bring to you accurate and unbiased information to help you make crucial decisions with confidence.

About FMI:

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

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The global skin lightening products market to reach at a  US$ 1586 billion by 2031, according to a Future Market Insights report. Efficiency and effectiveness of a product are recognised by manufacturers and brand owners as being extremely crucial variables in converting the product’s unique selling proposition (USP) into a larger market share. The survey claims that one of the main causes driving the demand for skin whitening products is the increase in melasma incidence.

However, the latter being expensive, a larger consumer base is adopting topical therapies for the treatment of hyperpigmentation. Topical therapies include medically prescribed or over-the-counter drugs, including several creams, lotions, gels, serums, and other topical therapies.

Melasma can be defined as acquired hyperpigmentation on the skin and occurs due to a number of reasons, such as genetic predisposition, ultraviolet radiation, hormonal factors, and drugs. Topical therapies and minimally invasive surgeries are becoming extremely popular in treating melasma across the globe.

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The rising prevalence of melasma across the globe is shifting women to opt for topical therapies for treating their skin conditions. Apart from the U.S., the adoption of skin-lightening products has also demonstrated an increasing penetration rate among the African population.

As per the World Health Organization (WHO), 77% of Nigerians use skin-lightening products on a daily basis. Improved lifestyle and a rise in the middle-class consumer group in Africa are pushing the penetration of skin care products across the countries. Women happen to cover the leading share in the market, accounting for nearly 80% of sales. FMI in its latest study has forecast the market to rise at a CAGR of 12.8% between 2021 and 2031.

Key Takeaways of Skin Lightening Products Market Report

• Skin lightening product sales will continue rising, especially in the lotion and creams category
• The U.S. has emerged as a highly lucrative market, accounting for over 90% sales in North America
• The presence of some of the leading market players is pushing y-o-y growth in the U.K. at 3.3%
• The expansion of beauty industry will continue fuelling sales in Germany and France
• Japan will remain an exceedingly lucrative market, accounting for over 50% sales in East Asia

Impact of COVID-19 & 2020 Market Analysis

Besides this, the change in consumer buying habits has encouraged a shift from store based retailing to online retailing facilitating a wider market reach. However, the market is currently entering into reviving phase across different regions, which is further an indicator that points out towards new opportunities amid economic slowdown.

The current pandemic outbreak has imposed numerous challenges on the part of supply side and demand side. The temporary regulation imposed by regional governments to restrict the movement has impacted supply chains drastically. Besides this, the shift from discretionary spending to essential goods has further negatively impacted the market growth.

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Who is winning?

Future Market Insight (FMI)’s report underlines insights into the competitive situation of the Skin Lightening Products market along with highlights of differential ways utilized by players. Some key players within the Skin Lightening Products market includes and others.

The players are aggressively investing to encourage and promote product development with an aim to gain a competitive advantage over other players operating in the market. The players are entering into strategic alliances with others to build up and strengthen in house resources and expertise

Skin lightening Products Market by Category

Product Type

• Lotions and Creams
• Foam Skin lightening Products
• Gels Skin lightening Products
• Serum and Toner
• Scrubs
• Others

End User

• Men
• Women

Price Range

• Economic (US$ 10-50) Skin lightening Products
• Mid-range (US$ 50-200) Skin lightening Products
• Premium (US$ 200 & Above) Skin lightening Products

Nature

• Natural/Herbal Skin lightening Products
• Synthetic Skin lightening Products
• Organic Skin lightening Products

Sales Channel

• Pharmacies
• Hypermarkets/ Supermarkets
• Specialty Outlets
• Convenience Stores
• Beauty Stores
• E-Retailers
• Others

Region

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East and Africa (MEA)

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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact Us:                    

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The global laundry care market are expected to total between US$ 25 Bn and US$ 35 Bn in 2021. With growing demand for eco-friendly packaged laundry care products and increasing adoption of detergent pods, demand for laundry care products will increase at a high pace.

In terms of volume, FMI has forecast the laundry care market size to grow by 4% CAGR between 2021 and 2031. According to the report, over 16% – 21% of home & laundry care market sales are contributed by laundry care products.

Sales of liquid detergents are anticipated to rise as consumers choose them more frequently because they offer improved compatibility with washing machines and clean delicate textiles more effectively without causing damage.

Some of the top laundry care market players are introducing liquid detergents with plant-based ingredients in response to the surging demand for organic homecare products. On account of this, sales of laundry care products are expected to increase at 4% CAGR in terms of volume between 2021 and 2031.

Increasing adoption of advanced and automatic laundry machines which are compatible with detergent pods and liquid detergent also will improve the sales of liquid laundry detergents. Demand for sustainable and plant-based liquid detergents is rising, especially across India, China, and South Korea, which is expected to positively impact the growth in the market.

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Historically, demand for laundry care products increased at 4% CAGR between 2016 and 2020. However, with unprecedented outbreak of COVID-19 and increasing awareness for personal hygiene, demand for organic liquid detergents and fabric softeners has burgeoned.

According to the report, emergence of e-commerce platforms and promotion of plant-based liquid detergents and laundry care products will continue accelerating the demand in the laundry care market.

Key Takeaways from FMI’s Laundry Care Market Study

• Based on product type, the fabric softeners segment is poised to expand at over 5.6% CAGR 2021
• In terms of source type, synthetic segment is expected to register growth at 5.1% CAGR during the forecast period
• Sales of powder laundry care products are expected to reach US$ 38.5 Bn between 2021 and 2031
• South Korea and Japan are expected to account for over 22% and 34% of global sales in 2021, respectively
• India and China are expected to spearhead the growth of South and East Asia laundry care market, respectively during the forecast period

Competitive Landscape

As per FMI, top players are expected to account for over 25%-35% of global market share in 2021. Key players are focusing on collaboration with e-commerce and local vendors to increase their revenue.

Some of the key players are also introducing sustainable and plant-based laundry care products, targeting vegan consumers, to create lucrative revenues.

For instance, In September 2020, Woolite, a subsidiary of Reckitt Benckiser Group PLC, announced the launch of stain remover wipes which is made up of non-toxic ingredients and with eco-friendly packaging effective on all kinds of stain.

Some of the players operating in laundry care market profiled by FMI are Procter & Gamble Co., Unilever PLC, Colgate-Palmolive Company, Henkel AG & Co. KGaA, Reckitt Benckiser Group PLC, Amway Corporation, Kao Corporation, S.C. Johnson & Son Inc., LG Household & Health Care Ltd., Golrang Industrial Group, Lion Corporation, Church & Dwight Co., Inc. and Alicorp S.A.A. among others

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Laundry Care Market by Category

Product Type:

• Fabric Softeners
• Laundry Detergents
• Others

Distribution Channel:

• Wholesaler/Distributors
• Supermarket/Hypermarket
• Convenience Stores
• E-Commerce
• Grocery Stores
• Others

Source Type:

• Synthetic
• Organic
• Others

Form Type:

• Powder
• Cake/Block
• Liquid
• Others

Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• Asia Pacific excluding Japan
• Middle East & Africa

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The colour cosmetics industry is anticipated to grow at a CAGR of 5%. Sales of colour cosmetics will reach US$ 50 billion by 2031 as demand for natural and organic colour cosmetics and facial makeup products continues to grow.

The growing demand for eco-friendly cosmetics and the inclusion of cutting-edge technologies like artificial intelligence will be favourable for the market for colour cosmetics. AI is being used by top colour cosmetic firms like L’Oreal and others to enhance the comparison and visualisation of hundreds of cosmetic colour variations.

Thanks to the growth of distribution channels and the growing adoption of social media platforms, sales of colour cosmetics have skyrocketed. Additionally, it is projected that throughout the projection period, the rising demand for cruelty-free cosmetics would propel sales of vegan colour cosmetics.

Besides this, key players are investing extensively in research activities to include organic and natural color cosmetics such as face and eye makeup products in their portfolio. This is expected to bode well for the market.

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As per FMI, facial make-up segment is expected to remain dominant in the global color cosmetic market during the forecast period.

Key Takeaways from FMI’s Color Cosmetics Market Study

• Based on product type, natural & organic color cosmetic segment will account for nearly 49.9% of market share over the next five years.
• In terms of product category, sales in the eye makeup segment will total US$ 15 Bn by 2026
• In terms of price, premium color cosmetic segment is expected to account for over 60% of global market share
• China and South Korea are expected to spearhead the growth across East Asia color cosmetic market
• Supermarkets are expected to remain the preferred distribution channel in the color cosmetics market, however, sales via e-commerce are expected to pick up at a higher pace
• The U.S. is expected to dominate the North America color cosmetic market, with sales of color cosmetics across North America surging at 2% CAGR through the assessment period.

Competitive Landscape

As per FMI, top players are expected to account for over 30%-35% of global market share in 2021. Presence of numerous leading players in the market have led to intense competition. In order to gain competitive edge, key players are collaborating with social media influencers and e-commerce giants.

Also, some of the manufacturers are introducing new products under the clean-label category in order to capitalize on surging demand for organic and natural color cosmetic products. They are also investing in research and development activities to develop products with extended shelf-life.

Some of the key players profiled by Future Market Insights are L’Oréal SA, LVMH (Moet Hennessey Louis Vuitton), Estee Lauder Companies Inc., Revlon Inc., Shiseido Co. Ltd., Chanel S.A., Coty Inc., Mary Kay Cosmetics, Amway Cosmetics, Kose Corporation, and Others.

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Color Cosmetics Market by Category

Product Type:

• Chemical
• Natural & Organic

Distribution Channel:

• Hypermarket/ Supermarket
• Convenience Store
• Specialty Store
• Direct Selling
• e-Commerce

Price:

• Economic
• Premium

Product Category:

• Nail Products
• Facial Makeup
• Eye Makeup
• Lip Products
• Hair Colour Products
• Special Effects Products

Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• Asia Pacific excluding Japan
• Middle East & Africa
• Japan

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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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The  mobile phone accessories market  is valued at US$ 86.6 Billion in 2021. The market is likely to grow at a CAGR of 6.7% through 2031, reaching US$ 166 Billion.

The demand for mobile phone accessories has quickly increased as a result of the adoption of IoT in homes, and this trend will likely continue in the near future. The introduction of 5G technology will increase demand for mobile phone accessories that support augmented reality and virtual reality systems.

The rapid development of 5G technology will enhance the experience of devices linked wirelessly and will significantly increase the demand for wireless connectivity devices.

The increasing application of mobile phones and the expansion of 5G technology to ease operations and help in the smoother functioning of these devices are expected to have significant impact on mobile phone accessories market.

A Future Market Insights (FMI) analysis projects that by 2021, the market would be worth more than US$ 86.80 Bn.

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In addition, growth in smart homes and smart appliances sales has been a complementing factor for mobile phone accessories. The demand for protective cases and covers is expected to be significantly high. Nearly 20% of mobile phone accessories sales are expected to concentrate in this segment.

With the advent of 5G technology, consumers will have a better experience at the usage of smart devices owing to better connectivity and high-speed Internet, which is estimated to fuel the demand for smart devices in the near future.

Key Takeaways from the Mobile Phone Accessories Market Study

• FMI in its latest study has forecast the market to rise at a CAGR of ~6.7% between 2021 and 2031
• The U.S. is expected to register impressive growth, accounting for above 78% of overall sales in North America
• The U.K. is expected to register nearly 4% Y-o-Y growth in 2021
• The demand from Germany and France is expected to rise considerably in response to the expansion of 5G networks
• While China will remain leading market in East Asia, the demand from South Korea and Japan too is expected to rise at a swift pace

Increasing Focus on the Miniaturization of Electronic Devices

Moreover, they are expanding their footprint, especially in high-growth markets such as India and China through various mergers and acquisitions. Mobile phone accessories are increasingly adopted for improving the end-user experience of mobile phone users, which has contributed to the growing demand for mobile phone accessories.

Companies are focusing on introducing compact electronic components for printed circuit boards. This is intended to enhance the performance of devices such as smartphones as well as reduce the overall production cost.

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Impact of COIVD-19 & 2020 Market Analysis

The COVID-19 outbreak has encouraged governments and organizations to take exceptional measures to deal with the ongoing crisis. Such measures have led to the implementation of various restrictions on movement and business, transitory closure of organizations, and required physical distancing for extended period of time.

The COVID-19 pandemic has fundamentally reduced worldwide monetary action and has caused critical instability across various sectors. The COVID-19 pandemic and the measures taken by nations in response have adversely affected the mobile phone accessories business across the world.

Who is winning?

Some of the key players operating in the mobile phone accessories market are Samsung Electronics Co. Ltd., Logitech International S.A., Harman International Industries Incorporated, Plantronics Inc., Apple Inc., Sony Corporation, GN Group, Incipio Group, Western Digital Corporation, Kingston Technology Company Inc., Cambridge Soundworks Inc., Bscstore Inc., The Case Factory, TYLT, Ballistic, Moftware Inc., Seidio Inc., Skullcandy Inc., SincoCase International Industrial, Case Mate Inc., and among others. In order to gain competitive advantage, the market players are focusing on product launches. For instance:

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The smart water bottles will expand at a CAGR of roughly 11%An increase in per capita IT spending and a rise in health concerns have both had a substantial impact on people’s attitudes about smart water bottles.

It provides a more accurate picture of daily water usage. For younger generations that engage in physical activities like running, going to the gym, and participating in sports, this capability may be very important.

As more individuals become aware of the need of being hydrated, the market for intelligent water bottles will grow. Based on consumer preferences, a number of the top smart bottle producers are creating different models of high-tech water bottles.

The majority of smart water bottles come with the software necessary to link to a smartphone app. A person’s basic water consumption may frequently be monitored using a smartphone app. Being able to monitor daily progress and calculate how much more has to be taken in order to fulfil their daily water intake target is one method to stay encouraged to keep drinking.

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For instance, the Apple-compatible Thermos linked hydration bottle with smart top comes with a smartphone app that includes an activity tracker and hydration goal settings.

You may track many things with this device in addition to tracking general fitness because it is compatible with Fitbit accounts. The Smart Lid can monitor and track beverage intake in addition to giving instantaneous temperature measurements of the bottle’s contents. Additionally incorporated is Bluetooth connectivity with a 75-foot range.

Key Takeaways From The Smart Water Bottle Market Study

• Based on type, smart water bottles manufactured using polymers will be in high demand
• In terms of price range, sales in the US$40-US$60 segment is expected to grow at a rapid pace.
• In terms of sales channel, consumers will continue preferring indirect channels such as hypermarkets/ supermarkets, multi-brand stores, and others.
• The U.S. will continue pushing sales of smart water bottles in North America.
• China will emerge as a hub of smart bottle production within East Asia.

Impact Of COVID-19 On The Market

This also has prompted a transition from store-based to online commerce. However, the market is currently recovering, which is an indicator that points to new prospects despite the slowing economy.

The current pandemic has posed significant obstacles to both the supply and demand sides. Regional governments’ temporary restrictions on movement have had a significant influence on supply chains. Apart from this, growth in the market has been hampered by the change in spending habit among consumers from discretionary to essential products.

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Who is Winning?

Leading manufacturers of smart water bottle are focusing on aggressive promotional strategies, advertisements, and new product launches to drive sales of smart water bottle globally.

Some of the companies operating in the smart water bottle market are Caktus, Inc., Ecomo, Groking Lab, Ltd., Hidrate, Inc., Open-2, Moikit, Thermos LLC., Trago, Inc., Hydra Coach, Inc., Lifefuels, Inc., among others.