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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https://www.grandviewresearch.com/industry-analysis/drinkware-market
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.
For more info visit @ https://www.grandviewresearch.com
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