Drinkware Market

Drinkware Market Size, Share, Growth (2023-2028)

Drinkware market was valued at USD 26 Billion in 2022 and is anticipated to reach USD 45 Billion by 2028 with a CAGR of 4.5%.

Drinkware Market Overview

Drinkware is the products that are used as containers to consume water, juices, beverages, or any other liquids. Drinkware made up of metal was widely used in the ancient period. The recent trend led to glassware, ceramics, and polymer. The glassware consists of different varieties, such as champagne saucers, red wine glasses, decanters, pitchers, and others. The glassware was widely used on occasions to look decent and luxurious. The drinkware was very necessary in daily lifestyle as everyone drinks water and many people are addicted to consuming beverages. Hence, drinkware was mandatory in each person's life. Sportspersons and gym people most widely use drinkware as they take protein shakes and liquids on time to avoid dehydration. Drinkware was most beneficial in traveling to carry water and beverages. Drinkware was used in households and food service sectors for basic requirements.

Drinkware Market Drivers

The drinkware gained traction by expanding its market due to various valuable products for sports, food services, households, and workplaces. The products have long durability and different varieties, which attract people, even kids, boosting the drinkware market value. The advancement of modernization was making people habituated to alcoholic beverages and non-alcoholic beverages. The demand for the establishment of bars and clubs was increasing as drinkware was essential in these sectors for market growth. The increase in demand for the consumption of coffee or tea daily was prompting the product market growth. According to the International Coffee Organization, they witnessed a rise of 1.24 million bags to 168.35 million bags from the previous year. With increased social gatherings such as home parties or official meetings, the welcome drink was a recent trend where drinkware was essential. People need drinkware for traveling, and in the case of sports and gym people, they need to take liquids to escape dehydration. Water consumption was necessary in everyone's life as it was the main task in human life. The increase in demand for kitchenware was boosting the drinkware market growth. The kitchenware consists of various items, and drinkware was standard among them. Many kitchenware companies are advertising their products in a classic way, attracting customers, and positively impacting the drinkware market demand. The increase in restaurants and hotels was accelerating the market demand. The increase in food services booms the drinkware market as cups and mugs are essential in this field.

Drinkware Market Restraints

The increasing product price, which includes transportation costs, hampers the market growth. The classic and luxurious products are too expensive as they are made of glass, hampers the consumer's attention regarding household. The material used for manufacturing decides the cost of the product as some products made up of glass and ceramic should be transported carefully where the final product price rises, which includes the traveling charge. Most cups and glass manufacturers add lead and cadmium to low-quality glass products for sound manufacturing output, which are hazardous to human health. Prolonged consumption of these heavy metal drinkware leads to a rise in health issues. The government has taken strict regulations to avoid lead in manufacturing cups and glassware, which hinder market growth. 

Recent Developments in the Drinkware Market

• In August 2023, Stanley, a renowned provider of insulated drinkware products, announced the launch of its new Stanley cups and tumblers in collaboration with Hearth & Hand with Magnolia. These products launched with collaboration are available at Target stores in the United States.

• In November 2022, YETI, a designer, and distributor of outdoor products, announced that it signed a three-year agreement with the football club. As part of this agreement, the company sells insulated drinkware products for club fans through the club's retail channels.

COVID-19 Impact on the Drinkware Market

COVID-19 has highly impacted the various businesses. The food & beverage sector had lost due to the shutdown of business. The restaurants and hotels quickly adapted to home deliveries after being in losses for some time. The home delivery process boosted the drinkware market as disposable drinkware was more useful during home delivery. The rise in demand for online food deliveries has fueled the use of cups, tumblers, and others. Plastic coffee cups were widely used in home delivery services. The glassware and ceramic materials had seen a decrease in sales as transportation was difficult during lockdown.

Drinkware Market Segmentation

By Product

• Bottles

• Wine glass

• Beer glass

• Cups & Mugs

• Others

The Cups and mugs in the product segment have the highest demand in the drinkware market value. Disposable cups and ceramic cups are most widely used in restaurants and hotels. 65% of the people in the world consume coffee, and half of them have coffee at home, which increases the demand for mugs. Even in coffee shops, people prefer takeouts that surged the market value. Coffee consumption has become essential in many people's lives as it reduces stress, improves energy levels, and boosts performance. Younger to older adults are habituated to coffee in many developed countries.

The Bottles segment was also gaining attention in expanding the drinkware market. It was expected to increase with the greatest CAGR in the forecast period.

By Material

• Polymer

• Metal 

• Glass

• Silicone 

• Ceramic 

• Plastic 

• Porcelain

The Polymer segment had the dominant share in the drinkware market in 2022. This segment was only expected to maintain its trend with a higher dominant market value in the forecast period. Various kinds of polymers are used in the manufacturing of drinkware, such as polypropylene (PP), polyethylene terephthalate (PET), and polyethylene (PE). The durability was high for the polymer-based products. The Food and beverage packaging uses PE for squeeze and rigid bottles.

The metal and glass segment has had high demand in recent years. The metal has been in use since the ancient period when the demand was still ongoing as the durability was long, and the copperware has health benefits. The glass drinkware was used in luxurious places to improve their ambiance and customer attraction. These segments are expected to have expansion in the market growth.

By Application

• Domestic

• Commercial

The commercial segment has a significant market demand in 2022. The increase in the market of restaurants, hotels, and cafes was driving the commercial segment. The increase in sports persons and the demand for necessities also boosted the commercial segment. The domestic segment also had decent market growth as kitchenware was necessary for households.

By Distribution Channel

• Supermarkets/Hypermarkets

• Specialty stores

• Online Retail

The supermarket segment will have a dominant market share in 2022. Supermarkets are highly preferred by consumers as various products are available where people can select their convenient products. Online sales are expected to increase in the forecast period as many people prefer online purchases due to home delivery.

Drinkware Market Regional Analysis:

• North America

• Europe

• Asia-Pacific

• Latin America

• Middle East and Africa

The Asia-Pacific region was expected to have a dominant share in the drinkware market in 2022, and it was expected to hold the dominant share in the forecast period. The emerging growth in tourism prompted an increase in various businesses, such as cafes, restaurants, and hotels, which led to a surge in market growth. According to World Economic Forum data, the number of international tourists in the Asia-Pacific region has increased in past years.

The North American region held the dominant share of the drinkware market, followed by the Asia-Pacific region. The increase in commercial sectors, such as workplaces and educational institutions in the U.S., increased the demand for drinkware products. The increasing number of food places was driving the market growth. According to the National Restaurant Association, over a million restaurant locations were established in a year in the United States.

Europe holds a decent market value and is expected to expand with good growth rate during the forecast period.

Drinkware Market Key Developments

1. Thermos LLC

2. AMCOR

3. Mizu

4. Pacific Market International

5. Bormioli Rocco

6. Hydro Flask

7. Hamilton Housewares Pvt. Ltd

8. CamelBak

9. Dopper

10. Soul Bottles