Tourism has emerged as a thriving industry across the world. The need for vacations among professionals and the growing interest among young and middle-aged population to explore new places stems growth for the industry. As tourism thrives, it also pushed demand for several other products that people consume while traveling. For instance food and beverages. People love to explore food and try new varieties while visiting new places. From this, emerges the demand for reusable plastic water bottles.
The global reusable plastic water bottles market has been growing at a competent rate in the past few years, and is believed to maintain the pace in the coming years, too. While flourishing tourism industry propels growth for the global reusable plastic water bottles market, there are several other factors favoring demand, too.
How awareness about reusable plastic augments demand for reusable plastic water bottles?
With growing awareness, people have realized the consequence of plastic on the environment. Several countries have banned the use of plastic and are promoting the use of reusable and green materials to promote safety of environment. However, it is impossible to completely erase the use of plastic from daily life. But, single-use plastic could easily be replaced with reusable plastic. These factors are expected to fuel demand in the global reusable plastic water bottles market.
Furthermore, companies utilizing reusable materials are receiving incentives from governments. This is being done to promote the use of green materials. As a result, many brands are introducing initiatives to promote the use of reusable plastic bottles. These trends are predicted to instill positivity in the global reusable plastic water bottles market.
How developing travel and hospitality sector opens new avenues for growth?Advertisement
With the flourishing tourism industry, the demand for air travel and hotels has also witnessed a steep growth in the past few years. One of the major requirements in the travel and hospitality sector is food. In order to provide best-in-class facilities and hospitality, airlines and hotels provide beverages and water in reusable plastic bottles. This opens new avenues for global reusable plastic water bottles market.
At the same time, the demand for water and beverages will rise at airports. With airports trying to match international standards of service and comfort for travelers, providing food and beverages in eco-friendly and green materials is a goal for most vendors. These factors are believed to yield promising growth in the global reusable plastic water bottles market.
Why Asia Pacific will witness the highest growth in the coming years?
Among the various geographical regions of the global reusable plastic water bottles market, Asia Pacific is expected to emerge as the largest shareholder in the coming years. The rising population in some developing countries like India and China are the primary factors of growth in this region. Further, the escalating demand for food and beverages, growing influx of tourist population, and increasing awareness about environment are promoting growth.
North America and Europe on the other hand will continue to grow at steady pace and remain significant. Major players in the reusable plastic water bottles industry are introducing innovative products to meet the varying demands of consumers.
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