Drinkware Market size to exceed $35 bn by 2025
Published Date: October 7, 2019 Authors: Kunal Ahuja, Sonal Singh
Drinkware Market size will surpass USD 35 billion by 2025; according to a new research report by Global Market Insights, Inc.
The drinkware market may witness significant growth from 2019 to 2025 due to increasing utilization of e-commerce platforms for buying consumer goods. This platforms offers wide variety of drinkware products in different sizes and shapes. Consumers are attracted to discount schemes and combo sets on online platforms. Online purchasing of products helps in saving time and energy.
Consumer inclination towards infused water consumption for boosting metabolism will accentuate drinkware market share
Increasing consumption of infused water in order to boost energy levels and metabolism will contributes to the utilization of stainless steel, glass, and polymer infuser bottles. Rising prevalence of obesity related issues including diabetes and heart problems will induce people to consume metabolism boosting drinks.
Stringent regulations to reduce plastic waste will positively impact the sales of glass and stainless-steel infuser bottles owing to its environmentally friendly nature. The companies operating in the global market are focusing on offering new products and services to gain market share. In 2016, Contigo introduced new AUTOSPOUT infuser bottle which offers the option to infuse on-the-go. Growing health awareness among people for reducing and maintaining body weight will spur the usage of infuser bottles globally.
Browse key industry insights spread across 340 pages with 522 market data tables and 24 figures & charts from the report, “Drinkware Market Size By Product (Bottles[ Water bottles, Tumblers, Shakers, Infusers], Mugs & Cups), By Material (Polymer, Metal, Glass, Silicone, Ceramic) By Application (Everyday, Sports, Travel, Domestic, Commercial) By Distribution Channel (Supermarket, Independent stores, E-Commerce), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, UK, Germany, France, Italy, Spain, Russia, Poland, Netherland, Sweden China, India, Japan, South Korea, Australia, Malaysia, Thailand, Brazil, Saudi Arabia, South Africa, UAE), Growth Potential, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
Tourism sector growth will stimulate mugs and cups utilization in European hotels and restaurants
Europe drinkware market from mugs and cups segment surpassed over USD 3.5 billion in 2018. Europe is one of the most popular destinations of international tourists. Europe International tourist arrivals surpassed 700 million in 2018. These factors have led to growth in hospitality sector thereby stimulating the usage of mugs and cups in the region.
European nations including Sweden, Finland, Iceland, and Norway are the top consumers of coffee around the world. Mugs and cups are utilized for serving hot and cold beverages including tea, coffee, beer, alcoholic and non-alcoholic beverages. Finland official coffee break law further stimulated coffee consumption, thus spurring drinkware sales.
Reducing disposable bottles utilization owing to stringent government policies will accentuate reusable drinkware production
India bottles market demand may grow over 4.5% by 2025. Recent appeal by local government to abolish the utilization of single use plastics and to consume environment friendly substitutes will increase reusable drinkware sales.
Increasing investments in R & D activities by the manufacturers has offered consumers with variety of choices for varying purposes. Announcements made by the Indian government to end the usage of single use plastics from October 2, 2019 will lead to increased manufacturing and sales of glass and metal bottles in the country.
Manufacturers are concentrating towards new product launches. In August 2014, Klean Kanteen expanded its offering of stainless-steel products by introducing Growler, three matt color options. This helped the company to expand its product portfolio. in order to cater to diversifying needs. Major players in drinkware market share include Dopper, Thermos LLC, Hydro Flask , Camel Bak , Hamilton Housewares Pvt. Ltd , Pacific Market International, and Bormioli Rocco.