The global drinkware products market is projected to expand at a CAGR of 8.3% from 2023 to 2030. Increasing demand for convenient packaging solutions is expected to drive the market. Manufacturers are introducing innovative packaging solutions to meet the growing demand for convenience and functionality. For instance, in July 2021, S’well, a US-based manufacturer of insulated drinkware, launched a new range of bottles called S’well Eats, which can be used to store hot and cold liquids and also used as containers for food items such as salads, sandwiches, and snacks.

The growing demand for sustainable packaging solutions is expected to fuel the market growth. Manufacturers are focusing on producing eco-friendly packaging to meet the consumer’s demand for sustainability. For instance, in January 2021, S’well launched its new line of Eco bottles made from post-consumer recycled plastic. The company aims to reduce the amount of single-use plastic entering landfills by using recycled material to make its bottles.

The rising demand for on-the-go bottles is also driving the market growth. Manufacturers are introducing new designs and materials to meet the increasing demand. For instance, in December 2021, Contigo, a US-based manufacturer of drinkware, launched a new range of bottles that keep drinks cold for up to 28 hours. The bottles feature a vacuum-sealed stainless steel body and a patented Autoseal lid that is leak-proof and spill-proof.

Furthermore, the rising trend of premiumization is boosting the market growth. Consumers are demanding premium-quality drinkware products with innovative designs, colors, and materials. To meet this demand, manufacturers are introducing premium-priced products that are aesthetically appealing and offer a superior drinking experience. For instance, in January 2021, Takeya, a Japan-based manufacturer of drinkware, launched a new line of insulated bottles with an array of colors and designs. The new bottles are designed using a double-wall construction that keeps drinks cold for up to 24 hours.

The increasing popularity of gifting occasions is also driving the market growth. Manufacturers are introducing new products to meet the demand for giftable products. For instance, in June 2021, Contigo launched a new range of bottles that come with a customized gift box. The bottles are designed with a unique double-wall construction that keeps drinks cold for up to 36 hours. The gift box comes with an engraving option, allowing customers to customize the gift with a message or name.

The glassware segment dominated the market and accounted for a share of over 35.0% in 2022. Glassware is the most preferred type of drinkware due to the advantages it offers such as it is resilient, hygienic, transparent, and can be used for multiple purposes. Factors such as the availability of various sizes, shapes, and colors of glassware, along with the increasing awareness about the benefits of using glassware, are anticipated to drive the demand for these products during the forecast period.

The plastic segment is anticipated to expand at the fastest CAGR of 6.7% over the forecast period. The convenience and affordability of plastic drinkware have been increasing its demand among consumers, particularly in developing countries. Moreover, the increasing availability of eco-friendly and biodegradable plastic drinkware is further bolstering the growth of the market. The emergence of various plastic drinkware products, such as reusable bottles, tumblers, mugs, and cups, is driving the demand for these products.

The supermarkets and hypermarkets segment accounted for the major share of the market in 2022. Supermarkets and hypermarkets are the primary sources for consumers to buy drinkware products, as they are easily available in these establishments. Moreover, supermarkets and hypermarkets provide a variety of products from different brands and offer competitive prices. Furthermore, supermarkets and hypermarkets are preferred by consumers due to their convenience and easy access.

The online segment is anticipated to register the highest CAGR of 16.1% during the forecast period. The growth of the segment is attributed to the increasing number of e-commerce websites offering competitive prices and discounts on drinkware products. In addition, the rising internet penetration and the increasing use of smart devices are expected to drive the e-commerce market over the forecast period. Furthermore, the availability of a wide range of products on e-commerce websites and the convenience of ordering products are also expected to drive the growth of the online segment.

The plastic segment held the largest revenue share of 58.2% in the year 2022. Plastic drinkware is widely used due to its light weight and low cost. Moreover, the increasing trend of personalization of drinkware with custom designs and logos for promotional purposes is further propelling the demand for plastic drinkware. Many companies such as Starbucks and Dunkin Brands have adopted the concept of customization in drinkware. For instance, in June 2022, Starbucks launched a personalized cold cup collection in the U.S. to celebrate the summer season.

The ceramic segment is anticipated to expand at the highest CAGR of 6.3% over the forecast period. The increasing demand for eco-friendly and sustainable products is driving the market for ceramic drinkware. The increasing awareness about the harmful effects of plastic is driving the demand for ceramic drinkware. Moreover, the changing lifestyle and preference for stylish products are driving the demand for ceramic drinkware. For instance, in March 2022, Bormioli Rocco, an Italian glass and ceramic product manufacturer, launched a new collection of cups and glasses for the Indian market.

Asia Pacific dominated the market and accounted for the largest revenue share of over 44.2% in 2022. This is due to the rising demand for drinkware products in the region. The region is witnessing a surge in the number of high-end restaurants, bars, and cafes, which is further driving the demand for drinkware products. Additionally, an increasing number of people are opting for premium and fashionable drinkware products to reflect their personal style, which is further aiding the growth of the market. For instance, in April 2021, Precious Moments launched an exclusive line of drinkware products in India.

North America is expected to witness the second-fastest growth in the coming years. The region is home to several prominent drinkware manufacturers such as Corelle, Arc, and Oneida. These companies offer a wide array of products in various styles and designs, which is further expected to increase product visibility among consumers. Moreover, the region is witnessing an increasing number of online retail stores, which is further aiding the growth of the drinkware market in the region. For instance, in March 2021, Walmart launched an online store for drinkware products in the U.S.

In this part of the drinkware products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your drinkware products. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions
The main source of revenues for a drinkware products business comes from sales of the products, either through a physical store, an online store, or other retailers. You should also consider any additional sources of revenue such as promotional products, custom orders, and bulk orders.

Projecting Expenses
In this section, all the regular expenses related to keeping the drinkware products business running will be described. The list of operating expenses includes product costs, shipping costs, wages, utilities, advertising, and others. Additionally, you should consider any other expenses related to the creation and sale of the product such as research and development costs, packaging costs, and any additional costs related to your production process.

Some of the key companies operating in the drinkware products market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In June 2022, Tupperware Brands Corporation launched a new line of insulated tumblers with unique designs and styles.

– In August 2022, Corelle Brands launched a new line of glassware products, including glasses, mugs, and pitchers.

– In October 2022, Nalgene launched a new line of insulated water bottles designed for outdoor activities.

Some of the prominent players in the drinkware products market include:

– Tupperware Brands Corporation
– Corelle Brands
– The Oneida Group
– Nalgene
– World Kitchen LLC
– Thermos L.L.C.
– Contigo
– Hario Co., Ltd.
– Bodum
– Contigo LLC

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global Drinkware products market based on product type, material type, distribution channel, and region:

1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)

– Mugs
– Glasses
– Cups
– Others

2. Material Type Outlook (Revenue, USD Million, 2017 – 2030)

– Ceramic
– Plastic
– Metal
– Others

3. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Online
– Supermarkets & Hypermarkets
– Others

4. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What are the key drivers of the drinkware products market?
[A]: The key drivers of the drinkware products market are the increasing consumer preference for convenience and portability, rising demand for eco-friendly material-based packaging, and increasing health awareness among consumers. In addition, increasing demand for innovative and personalized drinkware designs, along with the influence of social media, is expected to drive the growth of the drinkware products market in the forecast period.

[Q]: Who are the leading players in the drinkware products market?
[A]: The leading players in the drinkware products market include Libbey Inc., The Oneida Group, Arc International, Tupperware Brands Corporation, Newell Brands, Inc., and Anchor Hocking, LLC.

[Q]: What are the key trends impacting the drinkware products market?
[A]: The key trends impacting the drinkware products market include the increasing popularity of personalized and customized designs, the growing demand for eco-friendly products, and the introduction of new materials such as glass, metal, and resin into the market.

[Q]: What is the regional outlook for the drinkware products market?
[A]: The regional outlook for the drinkware products market is positive. North America is expected to be the largest market due to the presence of a large number of leading players, while Asia-Pacific is expected to experience the fastest growth due to the rising disposable incomes and increasing demand for convenience products.

[Q]: What are the opportunities for new entrants in the drinkware products market?
[A]: New entrants in the drinkware products market have the opportunity to capitalize on the increasing demand for innovative designs and personalized products by introducing new materials and designs. Additionally, there is a growing demand for eco-friendly products, providing an opportunity for new entrants to tap into this segment.