The global drinkware market size is anticipated to reach USD
4.79 billion by 2025 registering a CAGR of 3.1%, according a new report by
Grand View Research, Inc. Rising product demand from the hospitality and food
service industry and increasing beverage consumption are expected to augment
the market growth. Moreover, several initiatives by key companies to introduce
products made of eco-friendly materials will contribute to the market
development.
Moreover, introduction of innovative and
luxurious designs will drive the demand further. To control the harmful effects
of plastic drinkware on the environment and health, companies are introducing
safe and recyclable drinkware. For instance, TOSSWARE offers Crystal
Clarity TOSSWARE®, which is 100% BPA-free, made of highest-quality
polymer, and is shatterproof. Glass-based drinkware accounted for the largest
share of 35.23% in 2018. Steel is gaining popularity as it is
temperature-sensitive, highly durable, and completely recyclable.
Urban Bar introduced a range of steel-based
drinkware named, Tiki Barware, which has Hawaiian themed tiki patterns on it.
Asia Pacific is expected to be the fastest-growing regional market over the
forecasted period. Rapid growth in hospitality industry and increasing consumer
disposable income levels are the main factors driving the market growth in this
region. For instance, the coffee sales by Cafe Coffee Day increased from 1.6
million cups in 2017 to over 2 million cups in 2018.
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Drinkware Market Report Highlights
- Plastic
material segment is projected to register the fastest CAGR of 3.5% from
2019 to 2025 on account of high demand for plastic products due to their
durability and lower price
- The
glass material segment accounted for the largest share of the global drinkware
market in 2018 and is expected to maintain its dominant position
throughout the forecast years
- Europe
is expected to be the largest regional market over the forecast period
owing high consumption of various beverages
- Some of
the leading companies in the global market are Arc International, AnHui
DeLi Glassware, Libbey, Pasabache, Bormioli Rocco, The Oneida Group,
Steelite International, and Ocean Glass
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Drinkware Market Segmentation
Grand
View Research has segmented the global drinkware market on the basis of
material type and region:
Drinkware Material Type Outlook (Revenue, USD Million, 2015 - 2025)
- Glass
- Ceramic
- Plastic
- Steel
Drinkware Regional Outlook (Revenue, USD Million, 2015 - 2025)
- North
America
- U.S.
- Europe
- Germany
- U.K.
- Asia
Pacific
- China
- India
- Central
& South America
- Brazil
- Middle
East & Africa
- Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based
market research and consulting company, registered in the State of California
and headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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