The global drinkware market is projected to reach $14.4 billion by 2028, at a CAGR of 4.2% during 2023-2028. The growth of drinkware market is driven by increase in beverage consumption, growing hotel and catering industries, and increasing middle class disposal income.
Some of the Key Questions answered in this exclusive report are:
Q.1 What are some of the most promising, high-growth opportunities for the drinkware market by product type, which includes wine glass, beer glass, coffee mugs and tea cups, everyday glasses, cocktail, spirit, and others, material (glass, bone china, porcelain/stoneware, steel, and others), end use (commercial, and personal), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 What are the business risks and threats to the drinkware market?
Q.4 What are some changing demands of customers in the drinkware market?
Q.5 What are the new developments in the drinkware market? Which companies are leading these developments?
Q.6 What strategic initiatives are being implemented by key players for business growth?
Q.7 What are some of the competitive products and processes in this drinkware area and how big of a threat do they pose for loss of market share via product substitution?
Q.8 What M&A activity has occurred in the last 5 years in this drinkware market?
Emerging trends, which 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.
Based on material type, the drinkware market is segmented into glass, bone china, porcelain/stoneware, steel, and others. The glass segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to low cost, environmentally friendly, and low health risk benefits.
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.
Key Players in the drinkware market are Arc International, AnHui DeLi Glassware, Libbey, Pasabache, Bormioli Rocco, The Oneida Group, Steelite International.
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