Drinkware market to accrue significant gains by 2025

According to the report published by Global Market insights Inc., the global Drinkware Market was estimated at $25 million in 2018 and is expected to hit $35 billion by 2025, registering a CAGR of 29% from 2019 to 2025. The report provides a detailed analysis of the market size & estimations, major investment pockets, top winning strategies, drivers & opportunities, competitive scenario, and wavering market trends.

Drinkware market is anticipated to grow impetus from the implementation of rigorous regulations to curb plastic waste. In a bid to bolster market share, leading companies are relentlessly focusing on providing novel products and services. For instance, Contigo came up with new AUTOSPOUT infuser bottle in 2016 that complements the on-the-go trend. It is believed that rising health awareness to maintain and reduce body weight will potentially influence the sales of infuser bottles.

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Globally, drinkware market has gained momentum owing to an increase in the number of health-conscious people aware about health disorders. Higher focus on healthy food and beverages has driven the consumption of infused water, energy-boosting drinks and protein shakes. Stainless steel, glass and polymer infused bottles are gaining popularity among the working population.

Regional Growth drivers are:
• North America: Growing number of health clubs and fitness centers owing to increase in obesity levels will spur drinkware demand
• Europe: Growing demand for aesthetic bottles & mugs may drive market growth
• Asia Pacific: Growing consumption of nonalcoholic beverages will foster industry growth

Based on products, the mugs and cups segment contributed to nearly 3.5 billion drinkware market revenue in 2018 and is expected to lead the trail throughout the forecast period. The bottled water segment, on the other hand, is likely to register over 5.5% gains during the study period.

Various companies have ventured into the production of BPA free water bottles and are carrying out innovations in the field in order to keep up with the shifting consumer pattern. Welly Bottle recently introduced a bamboo-lined water bottle infuser which is vacuum-sealed, double-walled and is available in standard color options. Similar efforts to adopt sustainable materials will influence drinkware market trends.

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Rising demand for health drinks, a robust tourism sector and booming sales of products across e-commerce platforms are anticipated to drive key drinkware market trends in the coming years.

With an evident increase in the number of chronic diseases such as obesity across the globe, there is a rising intake of drinks that enhance metabolism. Between 2015 and 2016, obesity affected over 93.3 million U.S. adults. Moreover, busy work schedules and lethargic life patterns have fueled the consumption of tea and caffeine, giving rise to the demand for thermos glasses and bottles.

Leading market players

The key market players analyzed in the global drinkware market report include Thermos LLC, AMCOR, Mizu, Pacific Market International, Bormioli Rocco, Hydro Flask, S’well, Klean Kanteen, Hamilton Housewares Pvt. Ltd, Nomader, Camel Bak, and, Dopper. These market players have incorporated a number of strategies including partnership, expansion, collaboration, joint ventures, and others to retain their robust stand in the industry.

Read more: https://www.gminsights.com/industry-analysis/drinkware-market

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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