(Entertainment-NewsWire.com, June 25, 2020 ) Market Overview: • The global ediblewaterbottles market is growing at a CAGR of over 6% during the forecast period 2020-2027. • Edible water bottle, simply called a water ball is a globule of water surrounded by a transparent sachet made from seaweed and chloride. These water containers are biodegradable and can be used as sustainable alternative to plastic bottles. The large scale utilization of plastic as packaging material in food, beverages, and other consumer products across the globe is resulting in severe environmental pollution and harming the marine ecosystems. The non-biodegradable nature of plastic is also posing adverse effect on mankind, thus motivating the development of biodegradable packaging materials such as edible water bottles.
Market Dynamics: • The rising utilization of plastic and awareness towards its adverse effects on environment are the major factors for the growth of edible water bottles market. The utilization of plastic has been constantly increasing with rising consumption of bottled water across the globe. According to the Plastic Oceans International, the global plastic production reached 335 million metric tons in 2017 and over 50% of this is used for single-use applications. Furthermore, bottled water emerged as the largest beverage category in the U.S. market with a consumption volume of 13.7 billion gallons in 2018 which is 7% higher than the previous year. The environmental protection bodies laid efforts for reduction of plastic consumption and is motivating the development of effective alternatives such as edible water bottles. Several governments are also commissioning regulations for limiting the use of plastic bottles. The bans imposed on the use of single-use plastic are likely to increase the demand for edible water bottles in the near future.
Market Geographical Analysis: • By Geography, North America is the leading market for edible water bottles market. The technological advancements and presence of edible water bottle manufacturers such as Nomaco Limited is increasing the utilization in the U.S., thus supporting the growth in North America region.
Market Competitive Trends: • The global edible water bottles market is still in infancy both in terms of product development and consumer adoption.
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