North America Holds 42% Market Share of Global Plastic Insulated Drinkware Market – Fact.MR Study

The insulated drinkware market is anticipated to expand at a CAGR of over 6% during the forecast period (2020-2030). The recent past has seen a change in consumer preferences for drinkware goods, whereby, a majority of customers choose to buy utility-based drinkware, such as multicomponent bottles, interlocking cans, aerosol cans, etc. This phenomenon has increased utility drinkware sales, including insulated drinkware.

Due to the ongoing, COVID-19 outbreak, there has been a significant and enduring impact on the consumer goods industry. This crisis has fundamentally changed how and what consumers are buying, and has accelerated immense structural changes in the consumer goods sector. The purchasing curve of insulated drinkware and household consumer goods in general is experiencing a sharp downturn.

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This newly published and insightful report sheds light on Market Insights of Insulated Drinkware, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Insulated Drinkware Market.

The insulated drinkware market is anticipated to expand at a CAGR of over 6% during the forecast period (2020-2030). The recent past has seen a change in consumer preferences for drinkware goods, whereby, a majority of customers choose to buy utility-based drinkware, such as multicomponent bottles, interlocking cans, aerosol cans, etc. This phenomenon has increased utility drinkware sales, including insulated drinkware.

Due to the ongoing, COVID-19 outbreak, there has been a significant and enduring impact on the consumer goods industry. This crisis has fundamentally changed how and what consumers are buying, and has accelerated immense structural changes in the consumer goods sector. The purchasing curve of insulated drinkware and household consumer goods in general is experiencing a sharp downturn.

There are more than 250 million campers across the globe using different accessories during camping. The average camper spends more than US$ 10 on camping accessories, and this has risen since 2017 by over US$. 0.5 The total spend has gone up by 5% as compared to the previous year.

The United States camping population is a major contributor and is rising by 4% each year. Moreover, per capita insulated drinkware spending of North America is the highest among all geographies, and this will positively impact the expansion of the insulated drinkware market size during the period of forecast.

Regional Outlook of Insulated Drinkware Market
North America is one of the prominent consumers of insulated drinkware, globally, holding a global insulated drinkware market share of around 42%. The U.S., being the most affected region by coronavirus, is projected to hinder the growth in sales of insulated drinkware. Stainless steel and rigid plastic drinkware are popular among millennials and working population in the U.S., where insulated drinkware is the first choice of travelers, commuters, and sports participants alike.

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Insulated Drinkware Market: Segmentation

FactMR’s study has done the segmentation of the insulated drinkware market on the basis of product, body type, capacity, and sales channel, across seven regions.

Product
• Water Bottles
• Cans
• Mugs

Body Type
• Stainless Steel
• Plastic Insulated

Capacity
• Less than 500 Ml
• 750 Ml
• 1 Liter
• 1.25 Liters – 2 Liters
• Above 2 Liters

Sales Channel
• Supermarkets and Hypermarkets
• Specialty Stores
• Convenience Stores
• Online Stores
• Other Channels

Region
• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• MEA

Competition Analysis

The global insulated drinkware market space is moderately fragmented, with small regional producers responsible for more than three-fourth share. Prominent companies, such as Yeti Holdings Inc., Thermos LLC, Camelbak Products, LLC., Pelican Products, Inc., and Tupperware Brands, have a share of over 45% in the international insulated drinkware industry, but they also have a large share in their domestic markets.

Other manufacturers in the insulated drinkware market are focused on increasing their product range and improving their supply chain efficiency under their short-term vision, whereas, long-term ambitions include the acquisition of viable companies that can enhance their regional scope and extend their current offerings.

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Key Takeaways of the Global Insulated Drinkware Market
• Insulated drinkware market accounts for around 10% of the overall drinkware market, though it has been witnessing a higher growth as compared to the drinkware market
• The upsurge in demand of insulated drinkware of 1 Litre capacity presently accounts for around 50% of the market share and is projected to show an upward growth trajectory in the market through the forecast period
• Supermarkets and hypermarkets will continue to have the largest share for insulated drinkware and are projected to grow 1.9X over forecast period
• North America and Europe together account for over 60% of the insulated drinkware consumption, owing to higher dollar spending on insulated drinkware vis-à-vis other regions
• Global insulated drinkware market is highly fragmented. Three-fourth of the market share is accounted for by small regional manufacturers
• Brand owners of insulated drinkware carry a profitability margin of 6% – 8%, though with the increasing raw material prices and emergence of several regional players, there exists a constant pressure on product pricing

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This release was published on openPR.