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Strong Growth Ahead: Thermos Drinkware Market Size To Grow At Arecord 6.7% Cagr By 2029
Thermos Drinkware Market
How Big Is the Thermos Drinkware Market Size Expected to Be by 2034?
The thermos drinkware market size has grown strongly in recent years. It will grow from $3.09 billion in 2024 to $3.31 billion in 2025 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to rising disposable income, rising social media adoption, growing popularity of online shopping, increasing use of advanced technology, and the rising trend of urban living.
In the coming years, the thermos drinkware market is projected to experience significant growth to reach $4.29 billion by 2029, with an annual compound growth rate (CAGR) of 6.7%. This predicted growth is due to an increased focus on sustainability, a growing working populace, the rising trend of outdoor activities, increased awareness about plastic contamination, and heightened health and wellness consciousness. Key trends for this forecast period include the advent of vacuum-insulated technology, the rise of smart technologies, the combination of smart and functional attributes, strategic partnerships, and the development of sophisticated insulation technologies.
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What Are the Emerging Segments Within the Thermos Drinkware Market?
The thermos drinkware market covered in this report is segmented -
1) By Product Type: Water Bottle, Mugs And Tumblers, Beverage Bottle
2) By Capacity: Less Than 500ml, 500ml To 1000ml, 1000ml And Above
3) By Distribution Channel: Hypermarkets Or Supermarkets, Specialty Stores, Convenience Stores, Online, Other Distribution Channels
4) By Application: Outdoor Enthusiasts, Everyday Use, Specialized
Subsegments:
1) By Water Bottle: Insulated Water Bottle, Stainless Steel Water Bottle, Plastic Water Bottle, Glass Water Bottle, Collapsible Water Bottle
2) By Beverage Bottle: Sports Beverage Bottle, Vacuum-Sealed Beverage Bottle, Hot Beverage Bottle, Cold Beverage Bottle, Glass Beverage Bottle, Stainless Steel Beverage Bottle
3) By Mugs and Tumblers: Insulated Mugs, Travel Mugs, Coffee Mugs, Ceramic Mugs, Stainless Steel Tumblers, Plastic Tumblers, Thermos Tumblers
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What Long-Term Drivers Are Shaping Thermos Drinkware Market Trends?
The thermos drinkware market is set to expand due to the increasing interest in outdoor activities. These activities, often taking place in natural settings, involve physical, leisurely, or social engagements. Fuelled by people's desire to ease stress, appreciate the beauty of nature, and maintain an active lifestyle, the popularity of such activities has surged. Thermos drinkware does its part by preserving the temperature of beverages for extended periods, adding to the enjoyment of outdoor activities through the provision of either a cooling or hot drink. Citing data from the Outdoor Industry Association, a trade body based in the United States, there has been a substantial rise in children's participation in outdoor activities in 2023. Backpacking activities rose from 1.6 million in 2021 to over 2.3 million, while three-quarters of outdoor activities saw a spike in engagement in 2022. As a result, the growing trend of partaking in outdoor activities is fuelling the expansion of the thermos drinkware market.
Who Are the Top Competitors in Key Thermos Drinkware Market Segments?
Major companies operating in the thermos drinkware market are YETI Holdings Inc., Zhejiang Haers Vacuum Containers Co. Ltd., Kent RO Systems Limited, Zojirushi America Corporation, Igloo Products Corp., CamelBak Products LLC, Trove Brands LLC, Contigo Corporation, SIGG Switzerland AG, Hydro Flask LLC, Thermos L.L.C., LaiKoe, Simple Modern LLC, Kingstar Industries Co. Ltd., Mizu Inc., Tiger Corporation, Yongkang Lance Industry & Trade Co., Mayur Jugs, Feemio Group Co. Ltd., Shanghai Solid Stainless Steel Products Co. Ltd.
What Thermos Drinkware Market Trends Are Gaining Traction Across Different Segments?
Leading firms in the thermos drinkware market, such as Xiaomi, are prioritizing product innovation, including developing advanced thermos flasks to increase temperature conservation and enhance usability. Thermos flasks are insulated vessels made to keep the temperature of liquids stable for prolonged durations. For example, in January 2023, Xiaomi, a consumer electronics company from China, introduced the MIJIA Thermos Flask. The flask, with its impressive 1.8-liter capacity, has been designed with a focus on long-lasting heat and cold retention, indicating an emerging market trend for more adaptable and functional drinkware. The creation of this product signifies the industry's increasing emphasis on incorporating high-level features to fulfil diverse consumer requirements. Through providing superior insulation and a design that prioritizes user comfort, Xiaomi broadens its product range to accommodate varying consumer tastes, in line with the growing demand for innovative and practical thermos options in the industry.
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Which Regions Are Becoming Hubs for Thermos Drinkware Market Innovation?
North America was the largest region in the thermos drinkware market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the thermos drinkware market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Thermos Drinkware Market?
2. What is the CAGR expected in the Thermos Drinkware Market?
3. What Are the Key Innovations Transforming the Thermos Drinkware Industry?
4. Which Region Is Leading the Thermos Drinkware Market?
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