Drinkware market revenue is estimated to be $XX Billion in 2019 and shall grow with a CAGR of XX.X% during the forecast period of 2019 to 2026. Drinkware consists of receptacles to store and dispense a variety of drinks such as water, milk, and energy drinks.
Drinkware consists of receptacles to store and dispense a variety of drinks such as water, milk, and energy drinks. It is frequently used in retail applications. They come in various sizes and materials of construction. Typically, they are referred to as bottles.
Drinkware Market size was estimated at $4,113.7 Million in 2022 and is expected to reach $5,093.8 Million by 2027, growing at a CAGR of 3.1% during the forecast period of 2022 to 2031.
Analysis by Product
According to Product, the segments are Bottles and Mugs & Cups. Within the purview of bottles are Water bottles, Tumblers, Shakers, and Infusers.
Bottles are showcasing the largest utilizations in the market. They are available through various distribution models. They are used to store and transport various beverages. Health-conscious consumers will exhibit increased purchase of drinkware owing to the health benefits of staying hydrated.
Mugs provide the necessary insulation to the beverage. They are versatile to be used in hot and cold weather. Increased travel will augment this segment’s growth.
Analysis by Material
Classification by material has four segments. These are Polymer, Metal, Glass, Silicone, and Ceramic.
Polymer-based manufacturing results in low weight and affordable price of the mugs and tumblers. On the other hand, ceramics are employed when strength and durability are of paramount concern.
Metal-based construction is very popular with athletes as their applications require the contents of the bottle to be insulated. Thus, with this specific requirement, the metal-based bottles and tumblers will continue to have a niche in the market.
Glass bottles are quickly finding their way in regions which are dealing with the plastic menace. They are a popular choice as a reusable commodity at affordable prices. Moreover, they work for a wide range of beverages such as soft drinks, juices, water, and milk.
Analysis by Application
According to the application, the four segments are Every-day, Sports, Travel, Domestic and Commercial.
The travel & tourism is rapidly expanding with rising consumer incomes. Thus the need for portable drinkware is also on the rise.
The commercial & sports segment is one of the biggest draws in the consumption of drinkware. This is because drinkware forms a bare essential element of a large fraction of a restaurant’s capital cost. With an ever-increasing number of food chains coming up, the demand for drinkware is expected to increase at a healthy rate.
Analysis by Region
The Asia-Pacific region is witnessing one of the largest moves to eradicate single-use plastics. The government mandates are supporting the use of Glass bottles in particular due to their affordable price for the common man. Other materials are also being promulgated as they are a good alternative to plastic containers.
Moreover, the consumers in India, China, and Japan are moving towards non-BPA products as a health measure. Therefore, the demand for responsible drinkware is likely to rise in this region in the forecasted time.
Analysis by Market
The important market players include Thermos LLC, AMCOR, Pacific Market International, Bormioli Rocco, Hydro Flask, Klean Kanteen, Hamilton Housewares Pvt. Ltd, Camel Bak, and, Dopper.
Product innovation is the main driving force in this industry. Work is being done to design and manufacture bottles with enhanced insulation properties as the consumers’ demand for products suitable for harsh climates increase.
Another area of improvement is being eyed in terms of smart bottles. These include bottles and tumblers that monitor the user’s hydration levels.
Such innovations require capital infusion and it is becoming prevalent in this market. This bodes very well for the future of drinkware as the players in the market gear up for the favorable demand networks forming shortly.
● Market Revenue Estimation and Forecast (2022 – 2031)
● Market Production Estimation and Forecast (2022 – 2031)
● Market Sales/Consumption Volume Estimation and Forecast (2022 – 2031)
● Breakdown of Revenue by Segments (2022 – 2031)
● Breakdown of Production by Segments (2022 – 2031)
● Breakdown of Sales Volume by Segments (2022 – 2031)
● Gross Margin and Profitability Analysis of Companies
● Business Trend and Expansion Analysis
● Import and Export Analysis
● Regional Analysis and Market Data Breakdown
By Product Outlook ($Revenue and Unit Sales, 2022-2031)
• Water bottle
• Mugs & Cups
By Material Outlook ($Revenue and Unit Sales, 2022-2031)
By Application Outlook ($Revenue and Unit Sales, 2022-2031)
By Regional Outlook ($Revenue and Unit Sales, 2022-2031)
• North America
• Asia Pacific
• South Korea
• Latin America (LATAM)
• Middle East & Africa (MEA)
• Saudi Arabia
• South Africa
• Amcor Limited
• Pacific Market International
• Genuine Thermos
• Bormioli Rocco
• Hydro Flask
• Klean Kanteen
• Camel Bak
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