Hip Flask Market | Reporting and Evaluation of Recent Industry Developments & Business Strategies
Similar to the mobile, the hip flask started to appear in the form it was recognized today in the 18th century, the primarily hip flask was mainly used by the well-born people of high social class especially in the past. Initially, the hip flask was made of malleable metal alloy (Pewter), silver, gold, copper, and glass, but nowadays hip flask is also available in stainless steel and plastics. The hip flask made from silver is now considered to be a vintage collector’s items.
The market of hip flask is attracted mainly due to its shape:
Rectangular hip flask
Kidney- shaped flask
Oval or round hip flask
Straight hip flask
The most common and easy to carry are rectangular and straight hip flask due to its flat proportions, the wherein kidney-shaped flask is popular across the global market with its availability in varying degree of curvature. Round or oval flask is not particularly used for carrying liquor, but due to its feminine style, women preferred to purchase and carry. The hip flask is considered as a gift to be exchanged mainly in the developed economies of the world, which can be customized to give a personal touch. Antique hip flasks, particularly those made of silver, are now sought-after collector's items.
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Hip Flask Market: Dynamics
An increase in consumption of alcohol at a growing regions such as Russia, Western Europe, Australia, and Northern America would accelerate the demand for the hip flask market in years ahead, but the region of North Africa and the Middle East has lesser than 5% consumption of alcohol, this may result to sluggish demand for hip flask in the aforementioned market. Islam- the following countries have a global population of more than 200 million people; alcohol consumption is strictly prohibited in Islam.
The quick expansion of substantial economies due to globalization in recent years has raised the purchasing parity of country that is indicative of an increase in disposable income of an individual. This macro-economic factor is estimated to grow the demand for hip flask at a global market in years to come.
Carry alcohol in public is prohibited in many parts of the world, so the trend of carrying alcohol in the hip flask has been increasing the sales of the hip flask at a global market. The growing demand of hip flask is growing among the age group 25-55 years at an international level, especially people carry hip flask while attending an opera, going for fishing with family, watching sports at a stadium and similar events during their leisure time. Quality of being light-weighted and metallic is the first preference for hip flask among the buyers at the global market. Increasing liberation and globalization have increased the pace of trade among various economies of the world, and thus, it has increased the consumption of hip flask.
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