Drinkware Market Predicted To Reach USD 4.79 Billion By 2025

 

San Francisco, 20 Aug 2020: The Report Drinkware Market Size, Share & Trends Analysis Report By Material Type (Glass, Steel, Ceramic, Plastic), By Region (North America, Central & South America, APAC, Europe, MEA), And Segment Forecasts, 2019 - 2025

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.

Access Research Report of Drinkware Market @ 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

Browse more reports of this category by Grand View Research at: https://www.grandviewresearch.com/industry/homecare-and-decor

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
  • Europe
  • Asia Pacific
  • Central & South America
  • Middle East & Africa

Access Press Release of Drinkware Market @ https://www.grandviewresearch.com/press-release/global-drinkware-market

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 Information:www.grandviewresearch.com

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