Global Travel Mugs and Tumblers Market: Insights, Trends, and Forecasts to 2030 | Valuates Reports

Travel Mugs and Tumblers Market

The global Travel Mugs and Tumblers market was valued at US$ million in 2023 and is anticipated to reach US$ million by 2030, witnessing a CAGR of % during the forecast period 2024-2030.

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Major Trends:

1. Rising Demand for Eco-Friendly and Reusable Products:
o Consumers are increasingly shifting toward sustainable and reusable travel mugs and tumblers, driven by environmental awareness and efforts to reduce single-use plastics.
2. Innovative Designs with Enhanced Features:
o Manufacturers are introducing travel mugs with advanced features like thermal insulation, spill-proof lids, and ergonomic designs to cater to the preferences of modern consumers.
3. Growth in On-the-Go Beverage Consumption:
o Busy lifestyles and increasing demand for beverages consumed during travel or work are significantly driving the market growth.
4. Premiumization of Travel Mugs:
o The rise in disposable income and consumer preference for premium, aesthetically appealing products are fueling the growth of high-end travel mugs and tumblers.
5. E-commerce Driving Market Penetration:
o Online platforms and direct-to-consumer sales channels are contributing to the market expansion by offering a diverse range of products with easy accessibility.

Key Challenges:

1. Price Sensitivity in Emerging Markets:
o High-quality travel mugs and tumblers often come with a premium price, making them less accessible to cost-conscious consumers in emerging markets.
2. Competition from Low-Cost Alternatives:
o The availability of inexpensive, less durable alternatives poses a challenge for premium and mid-range brands to maintain market share.

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By Type
• Stainless Steel
• Ceramic

By Application
• Supermarket
• Convenience Store
• Online Stores

Key Companies
Zojirushi, Starbucks, Hydro Flasks, S'well, Yeti, Contigo, Bodum, Zoku, Newell Brands, Lock & Lock, OXO, JOCO Cup, Built NY, Ember, Takeya, OtterBox, CORKCICLE, DeLonghi, Thermos, TIGER, EMSA GmbH, PMI, Tervis Tumbler, CamelBak, EcoVessel, Mind Reader, Libbey, ORCA, RTIC, Kinto

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This release was published on openPR.