According to a new market report published by Lucintel, the future of the drinkware market looks good with opportunities in houseware, food services, and retail industry. The global drinkware market is expected to decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to reach an estimated $12.4 billion by 2025 with a CAGR of 1% to 3% from 2020 to 2025. The major growth drivers for this market are increase in beverage consumption, growing hotel and catering industries, and increasing middle class disposal income.
Browse 86 market data tables and 152 figures spread through 193 pages and in-depth TOC on “Drinkware Market"
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In this market, glass, bone china, porcelain/stoneware, and steel are used for manufacturing of drinkware products. On the basis of comprehensive research, Lucintel forecasts that glass will remain the largest material type, and will also witness the highest growth over the forecast period due to low cost, environmentally friendly, and low health risk benefits.
Within the drinkware market, everyday glass will remain the largest product type and witness the highest growth over the forecast period due to its multipurpose and versatile use for households.
Asia Pacific is expected to remain the largest region and witness the highest growth over the forecast period due to growing population, increasing disposal income, and growth in the hospitality industry.
Emerging trends that have a direct impact on the dynamics of the industry include increasing use of luxury drinkware made of BPA free co-polyster, and use of drinkware as promotional products. Arc International, AnHui DeLi Glassware, Libbey, Pasabache, Bormioli Rocco, The Oneida Group, Steelite International, and Ocean Glass are among the major suppliers of drinkware market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the drinkware market by material, product type, end use, and region, and has compiled a comprehensive research report entitled “Growth Opportunities in the Drinkware Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the drinkware market by product type, material, end use, and region, as follows:
By Material Type [Value ($ Million) from 2014 to 2025]:
Glass
Bone China
Porcelain/Stoneware
Steel
Others
By Product Type [Value ($ Million) from 2014 to 2025]:
Wine Glass
Beer Glass
Coffee Mugs and Tea Cups
Everyday Glass
Cocktail Glass
Spirit Glass
Others
By End Use [Value ($ Million) from 2014 to 2025]:
Personal Use
Commercial Use
By Region [Value ($ Million) from 2014 to 2025]:
North America
Europe
APAC
ROW
This 193-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/drinkware-market.aspx or helpdesk@lucintel.com.
About Lucintel
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