Global Drinkware Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Drinkware Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Drinkware is a general term for the class of vessels from which people drink. Drinkware is a type of vessel used to drink beverages such as water, juices, liquor, beer, tea, coffee, wine, and other beverages. Drinkware is available in a wide variety of shapes and sizes, including bottles, mugs & cups, and others.

Market Overview:

The latest research study on the global Drinkware market finds that the global Drinkware market reached a value of USD 27643.83 million in 2022. It’s expected that the market will achieve USD 33158.92 million by 2028, exhibiting a CAGR of 3.08% during the forecast period.

Influence of COVID-19 Outbreak on Drinkware Industry Development

The sudden outbreak of the COVID-19 pandemic, which has resulted in strict lockdown regulations in many countries, has disrupted the import and export of drinkware. COVID-19 can affect the global economy in three main ways: directly affecting production and demand, causing supply chain and market disruptions, and financially affecting companies and financial markets. The outbreak of the COVID-19 pandemic has severely impacted the drinkware industry. Disruptions in raw material supply chains due to national lockdowns have put pressure on industry product supply. Drinkware products are in high demand for diversified distribution channels. The convenience of distribution channels requires distributors with smooth logistics and flexibility. However, the pandemic has hit logistics hard, severely impacting the speed of turnaround. Factors such as labor shortages and increased raw material costs will increase production costs and risks. At the same time, under the impact of the capital market, investor confidence has been frustrated, and corporate financing has become more difficult. Market closures and supply chain disruptions have contributed to weak industrial output growth amid the COVID-19 outbreak. At the same time, the dining chair service industry and tourism industry have been hit hard, and the demand for related drinkware has been suppressed.

Drinkware Drivers

The foodservice industry has a steady and ongoing demand for drinkware, with innovations in new services offered by restaurants, hotels, cafés and eat-out outlets. Restaurateurs, hotel chains and independent operators are working to expand their services in every possible way, enabling online delivery facilities and adapting to the trend of home delivery. Compared with 2020, the global tourism industry will grow by 4% in 2021, but it will still be negatively affected by the epidemic. The recovery and development of tourism will help stimulate the catering service industry, which in turn will drive the development of drinkware.
Growing young global population, rising disposable income and consumer demand for premium/ultra-premium products, increasing alcohol and beverage consumption, Revenue in the Alcoholic Drinks market amounts to US$1,664.00bn in 2022. The market is expected to grow annually by 6.78%. For Q2 2022, Starbucks reported an increase in average ticket and transactions, alongside a 15% global revenue spike. Rising demand for alcohol and beverages will drive the drinkware market. In addition, people pay attention to health preservation and health, and the demand for exercise increases, which in turn drives the increase in water supply and drives the market demand for drinkware.

Region Overview:

North America had the highest growth rate of all regions.

Company Overview:

Zojirushi is one of the major players operating in the Drinkware market, holding a share of 4.25% in 2020.

The Zojirushi Corporation is a Japanese multinational manufacturer and marketer of vacuum flasks, beverage dispensers, and consumer electronics including bread machines, electric kettles, hot water dispensers, electric water boilers and rice cookers. It has a branch in South Korea and subsidiary companies in Taiwan, China, Hong Kong, and the United States. Zojirushi is listed on the Tokyo Stock Exchange.

YETI Holdings, Inc. engages in the design, marketing, and distribution of products for the outdoor and recreation market. Its products include coolers, drinkware, travel bags, backpacks, multipurpose buckets, outdoor chairs, blankets, dog bowls, apparel, and accessories. The company was founded by Roy J. Seiders and Ryan R. Seiders in 2006 and is headquartered in Austin, TX.

Segmentation Overview:

Among different product types, Cold Beverage Drinkware segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Personal segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Drinkware market covered in Chapter 3:

Haers
Zojirushi
Hydro Flask
Dopper
Mizu Life
Miir
CamelBak
Ello Products
Thermos LLC
YETI Coolers
Contigo
Igloo
Nalgene
The BlenderBottle

In Chapter 4 and Chapter 14.2, on the basis of types, the Drinkware market from 2018 to 2029 is primarily split into:

Cold Beverage Drinkware
Hot Beverage Drinkware

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Drinkware market from 2018 to 2029 covers:

Commercial
Personal

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)