Global Drinkware Market size worth over USD 36,490 million by 2027

According to a new research report by Global Market Insights Inc., the global Drinkware market size is set to surpass USD 36,490 million by 2027 driven by rising beverage consumption and growing demand from foodservice and hospitality industry.
 

Bottles are used for packing water & beverages during camping and travelling. Tumblers, bottles, infusers, and tumblers are used for professional and travelling purposes. Metal tumblers, mugs, and bottles provide insulation to the inside contents thus, used by bikers and trekkers during adventures.

 

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Drinkware market growth is supported by booming travel & tourism industry attributed to increasing disposable incomes and supportive government initiatives such as Dubai Sustainable Tourism and Swadesh Darshan Initiatives which are aimed to improve tourism industry in respective countries. Widespread usage of bottles & mugs in commercial and sports sectors will result in high consumption units across the globe.
 

The restaurants and hotels are increasingly utilizing drinkware’s such as bottles and tumblers for serving hot and cold beverages leading to incorporation of aesthetic materials and the development of new designs. Drinkware market share will be supported by rising number of specialty coffee brands leading to increased utilization of cups and mugs. Moreover, government expenditure on travel and tourism is attributing towards the market growth.
 

Growing demand for mugs & cups from cafeteria and beverages outlets will support the industry growth.

Global mugs & cups market was valued at over USD 19,610 million in 2020 and is likely to grow at a CAGR of 5.3% by 2027. The presence of a wide range of social classes and cultures has different styles & shapes of cups used for different liquids and occasions. The increasing consumer inclination toward health drinks, such as coffee, along with manufacturers’ focus on improved design and customization, will boost cups & mugs sales, accelerating the drinkware market growth over the forecast time period.
 

Mugs & cups are available in a variety of materials including glass, metal, ceramic, and silicone. Ceramic cups & mugs should witness an increased demand owing to their ability to lose heat at a slower rate. By material, ceramic mugs & cups accounted for the largest revenue share and is forecasted to witness highest gains during the assessment period. Ceramic cups are more porous, and conduction occurs slower in ceramic mugs, keeping the beverages hot.
 

Polymer mugs are unbreakable and provide surface area for image printing, which will last longer. These mugs are usually used for gifting with customized prints, designs, and quotes, lasting longer and propelling the polymer mugs demand. Glass cups & mugs offer benefits of keeping beverages hot or cold for a longer duration owing to their ability to withstand heat changes.
 

Browse key industry insights spread across 400 pages 548 market data tables and 32 figures & charts from the report “Drinkware Market by Product ( By Bottles {[Water bottles, Tumblers, Shakers, Infusers], By Material [Polymer, Metal, Glass, Silicone], By Usage [Everyday, Sports, Travel], By Distribution channel [Super Market, Independent Stores, E-Commerce]}, Mugs & Cups {By Material [Polymer, Metal, Glass, Silicone, Ceramic], By Usage [Domestic, Commercial] By Distribution channel [Super Market, Independent Stores, E-Commerce]}) Industry Analysis Report, Regional Outlook, Application Potential, Competitive Marketin detail along with the table of contents:
https://www.gminsights.com/industry-analysis/drinkware-market
 

Growing number of commercial café outlets, coupled with an increasing preference for eating out will stimulate the cups & mugs demand from commercial segments.

Growth in the number of coffee houses owing to rising millennial inclination toward cafes as a socializing place is anticipated to stimulate the cups & mugs demand, accelerating the drinkware market share. Glass and ceramic cups & mugs are highly preferred for commercial uses such as offices and cafe houses. The growing number of coffee retail chains is anticipated to boost the cups & mugs demand.
 

In 2020, the mugs & cups demand for commercial usage was estimated to be over USD 14,350 million and is expected to show huge opportunity during the assessment period. The increasing number of cafe outlets with diversified beverage offerings including cappuccinos and latte should boost the demand for cups & mugs from commercial places such as cafe houses and restaurants.
 

Rapid urbanization and increasing populace in Asian countries should drive drinkware demand in the region

Asia Pacific was valued at over USD 8,340 million in 2020 and is forecasted to reach a value of over USD 12,520 million by 2027. Factors such as high birth rate, increasing working woman population, and rising consumer awareness regarding infant health and nutrition is likely to raise the demand for glass and plastic bottles for feeding infants, augmenting drinkware market growth in Asia Pacific. Increasing health consciousness among the population of Asia Pacific is expected to promote the adoption of healthy dietary practices and sports and physical fitness activities in the region.
 

Key players in the drinkware industry are adopting strategies, such as partnerships, mergers, and acquisitions, to strengthen the overall product portfolio and expand the regional presence to gain a competitive advantage. Mizu, Amcor Limited, Pacific Market International, Bormioli Rocco, Genuine Thermos, Hydro Flask, Klean Kanteen, Swell, Camel Bak, Nomader, Vapur, Nalgene, Dopper, Lifefactory, Soulbottles, Contigo, are some of the key players operating in the global drinkware market.
 

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