Global Drinkware Market is Segmented By Product (Wine Glass, Beer Glass, Coffee Mugs and Tea Cups, Everyday Glass, Cocktail Glass, Spirit Glass, Others), By Material (Glass, Steel, Plastic, Ceramic, Others), By Price Range (Low-end, Medium Range, High-end), By Distribution Channel (Supermarket/Hypermarket, Independent Stores, E-Commerce, Others), By Application (Everyday Use, Outdoor & Travel, Sports & Fitness, Others), By End-User (Household, Commercial, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Drinkware Market Size
Global Drinkware Market reached USD 3.8 billion in 2022 and is expected to reach USD 5.0 million by 2030, growing with a CAGR of 3.7% during the forecast period 2024-2031. The market for drinkware items has been significantly influenced by changing lifestyle preferences.
Consumers are looking for drinkware that supports their healthy drinking habits and encourages hydration as a result of the surge in health and wellness consciousness. The demand for portable and travel-friendly drinkware like tumblers and water bottles has risen as people adopt more active and on-the-go lifestyles.
Asia-Pacific is among the growing regions in the global drinkware market covering more than 1/3rd of the market and the Asia-Pacific growing urbanization of the key factors boosting the market for drinkware in that sector. There is a rising need for portable drinkware that can accommodate busy, on-the-go lives as more people move to cities and metropolitan regions. Urban residents who want to keep hydrated while leading an active lifestyle are increasingly choosing travel mugs, tumblers and reusable water bottles.
Market Summary
| Metrics | Details |
| CAGR | 3.7% |
| Size Available for Years | 2021-2030 |
| Forecast Period | 2024-2031 |
| Data Availability | Value (US$) |
| Segments Covered | Product, Material, Price Range, Distribution Channel, Application, End-User and Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America and Middle East & Africa |
| Fastest Growing Region | Asia-Pacific |
| Largest Region | Asia-Pacific |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Equipment Type Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Market Dynamics
Increasing Demand for Various Applications of Home Decoration and Beverage Consumption
The population is expanding steadily, as is generally known. In 2022, there will already be more than 700 million people living in Europe. It goes without saying that as the population grows, so will the need for housing and cookware. Cookware, drinkware and tableware are all part of the kitchenware. In addition, there are ornamental things. Any contemporary home has all the necessary equipment in the kitchen.
Additionally, there are several drinkware options for various situations. The rising demand for the product as a result of the increased consumption of beverages is fueling the market's expansion. For instance, the International Coffee Organisation statistics reported that the world's 2019–20 consumption increased by 1.24 million bags from the previous year to 169.34 million bags.
The growing frequency of various social occasions, such as birthday parties, graduation parties, baby showers and others, is also contributing to an increase in the product's consumption. Additionally, the growing appeal of kitchenware shows like the Zuchex International Home & Kitchenwares Fair, the Madina Expo for Modern Hotels Asian Houseware & Kitchen Show and others helps to build momentum with customers.
Rising Establishment of Bars in Various Countries
Drinkware has a significant market increase since it offers a variety of items that are best used in sports, restaurants, residences and offices. The product's capacity to provide formal settings with attractive and refined appearance and design while, on the other hand, also being in a robust shape for kids' usage is aiding in drawing in more customers. The number of bars opening up in various nations throughout the world has caused product demand to soar.
High-quality and a lot of drinkware are needed if thus many different types of beverages are served at bars, pubs and nightclubs. Pubs, bars and nightclubs are popular places where people go to relax. Additionally, the industry is expanding favorably as a result of consumers' rising expenditure on affluent lifestyles. For instance, citing the data, SBDCnet.Org, June 2020, claims that more than 36,000 bars and nightclubs exist in U.S.
Drinkware Reuse Causes Hygiene Issues
Drinkware is frequently used in homes, restaurants, bars and cafés. These drinking vessels are regularly used for drinking purposes. It might lead to hygiene issues if not properly cleaned and sanitized. The microorganisms can thrive in the damp atmosphere and serve as a breeding ground for a variety of dangerous bacteria, parasites and germs, which can result in terrible illnesses.
Furthermore, occasionally there are residual contaminants on the glass after cleaning that might cause the bubbles to rise from the bottom and cling to the glass side, greatly increasing the likelihood that the drink will get tainted. In addition, frequent use of the drinkware can result in significant exposure to chemicals and heavy metals like lead and cadmium, which can further affect users.
Market Segment Analysis
The global drinkware market is segmented based on product, material, price range, distribution channel, application, end-user and region.
Rising Demand for Everyday Glass Due to Availability and Affordability of Glass
The everyday glass segment holds a major share of around 62.3% of the global drinkware market. The availability and affordability of ordinary glass drinkware are two major factors in its appeal. Everyday glass items are more affordable and easily accessible to a wide variety of customers than luxury or specialized drinkware solutions. Its price makes it a desirable option for people and families looking for durable drinkware that won't break the budget.
Furthermore, the market for drinkware is growing and common glass is one of the main reasons for this explanation. From water and juices to soft drinks, milk and other beverages, glass drinkware is suited for a wide range of liquids. As a result, the whole drinking experience is improved. Its neutrality enables it to reveal various drinks' genuine hues and textures.
Market Geographical Share
Asia-Pacific Growing Popularity of the Tourism Industry
The Asia-Pacific drinkware market has witnessed significant growth and popularity covering nearly 53.4% share in 2022. The rapid growth of the rubber manufacturing industry in developing countries including South Korea, Japan, China and India. The Asia-Pacific drinkware market is expanding because of the availability of cheap and skilled labor, land for industry development, simple regulatory standards and favorable job opportunities with economically strong countries.
The increasing popularity of the tourism industry is fueling the emergence of numerous enterprises, including cafes, hotels, resorts and other types of establishments, which helps to accelerate market expansion. For instance, the World Economic Forum reports that 290,868.1 thousand foreign tourists would arrive in the Asia-Pacific in 2019, according to statistics they have released.
Demand is also growing as a result of the region's expanding food catering industry, which is driving up the consumption of the good. For instance, statistics from April 2019 released by the Economic Times state that the food catering industry has grown by 16 percent and is now estimated to be worth USD 3.3 billion.
Drinkware Market Companies
The major global players include Libbey, AnHui DeLi Glassware, Bormioli Rocco, Pasabache, Steelite International, The Oneida Group, Arc Holdings, Thermos LLC, Klean Kanteen and Nomader.
COVID-19 Impact Analysis
The industry most negatively impacted by COVID-19 was manufacturing. The great majority of facilities that supply raw ingredients to various production units throughout the world are located in China, where the new Coronavirus was produced. To encourage investments and enhance the ease of doing business inside the countries, certain actions have been made to strengthen international collaboration.
By welcoming technical advances sponsored by the government, new and ongoing initiatives have received a boost. Additionally, the government has assisted local SMEs and producers financially by supplying them with cheap and subsidized raw materials. Global glass production is highly fragmented, with several small and large competitors vying for market share on both the basis of price and quality.
For Instance, since May 2020, the demand for glassware items has significantly decreased as a result of the COVID-19 pandemic, which has caused pricing fluctuations. Due to the pandemic's significant impact on local manufacturers and SMEs, the local demand couldn't be met, forcing the price to decline and having an impact on the entire drinkware market.
Russia-Ukraine War Impact
The supply chain for the raw materials required to make drinkware might be affected if the crisis interrupts commerce or blocks trade between Russia, Ukraine and other nations. This might thus have an impact on the manufacturing of drinkware's production capacity and lead times. Economic moves can be caused by geopolitical unrest, especially in the impacted areas. The cost of importing or exporting drinkware items may be impacted by currency depreciation or volatility, which might have an impact on pricing and profitability.
Its analysis of the impact of the Russia-Ukraine War on this industry is one of its most important aspects. The paper analyses how the war has affected the market and how that influence has been shown publicly. The research is helpful for individuals wishing to invest in the sector since it offers a detailed view of how the pandemic and violence have affected the drinkware business.
Key Developments
- On February 3, 2023, BASCO, Inc expands its glassware business by acquiring Discount Vials. They anticipate that this combination will benefit both BASCO and Discount Vials greatly, opening up new chances for both companies as they expand collaboratively.
- On April 26, 2023, Igloo, a pioneer in cooler solutions with headquarters in Texas, launched a new line of stainless-steel drinkware with nine different bottle and tumbler designs and sizes ranging from 12 ounces to 80 ounces.
- On August 3, 2021, BBH India and Borosil are being launched to highlight the distinctive advantages of the renowned Borosil Vision range. The Borosil famous Vision Glass, a multi-purpose collection of glassware that has achieved cult status, was created in collaboration with BBH and India's top consumer goods company.
Why Purchase the Report?
- To visualize the global drinkware market segmentation based on product, material, price range, distribution channel, application, end-user and region, as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of drinkware market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as excel consisting of key products of all the major players.
The global drinkware market report would provide approximately 85 tables, 95 figures and 181 Pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
