Technavio, a tech-focused market research firm, has published a new report on the global hydration products market, which is expected to grow at a CAGR of close to 8% during the forecast period 2017-2021.
Based on geographical segmentation, Technavio market researchers categorize the global hydration products market into the following key regions: the Americas, APAC, and EMEA.
Source: Technavio
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Top three contributors for the global hydration products market are elaborated below
Hydration products market in the Americas: The demand for hydration products in the Americas is driven by factors such as the growth in various adventure sport destinations in the US, and the increase in military expenditure as per NATO regulations. The increase in participation in adventure sports among various sports enthusiasts is expected to continue to propel demand for hydration products during the forecast period. These products are used in almost all outdoor sporting activities and are a necessity more than a convenience.
According to Thanikachalam Chandrasekaran, a lead analyst at Technavio, specializing in research on power, “The demand for the market is also dependent on the expenditure incurred for the military workforce of the nation. The expenditure on accessories used by the military personnel will determine the demand for hydration products, in the form of reservoirs.”
Hydration products market in EMEA: Hydration products are widely used in this region owing to the adoption of adventure sports across various countries in Europe and Africa. Another factor contributing to the demand is the increase in military workforce and defense budget in the region. According to Technavio’s industry analysts, the hydration products market in EMEA is projected to register growth at a CAGR of more than 7% between 2017 and 2021.
Hydration products market in APAC: The developing countries in APAC, such as India, China, Japan, and New Zealand, are likely to become a hub for various adventure sports during the forecast period. This development coupled with the increase in defense workforce and increase in military expenditure is likely to propel the demand for hydration products in the APAC region over the next four years. The growth in defense budgets, in terms of increased military workforce and ammunitions is also expected to contribute to the demand for hydration products in APAC.
The leading vendors operating in the global hydration products market are:
- CamelBak
- GEIGERRIG
- HydraPak
- Osprey
Other prominent vendors in the market include CoolGear, Decathlon, Ergodyne, Samsonite, Leatt, and Salomon.
A more detailed analysis is available in the Technavio report titled, ‘Global Hydration Products Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Disposable Respirator Market 2017-2021
- Global Wind Turbine Generator Market 2017-2021
- Global Laser Protective Eyewear Market 2017-2021
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