Drinkware Market Outlook
According to the report by Expert Market Research (EMR), the global drinkware market share reached a value of USD 4.15 billion in 2023. Aided by the rapid development of the hospitality sector and the acceptance of western culture, the market is projected to further grow at a CAGR of 3.20% between 2024 and 2032.
Drinkware, an essential component of tableware, encapsulates a variety of vessels from which beverages can be consumed. This includes but is not limited to glasses, cups, mugs, stemware, and tumblers. These items, apart from their primary functional use, often double as statement pieces, embodying personal or cultural tastes and serving as a reflection of one’s style and preferences.
One of the pivotal drinkware market trends is the growing emphasis on sustainability and eco-friendliness, leading to a marked shift from single-use plastic cups to reusable drinkware options. Stainless steel tumblers, bamboo mugs, and glass bottles, often viewed as environmentally responsible choices, are witnessing rising demand.
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The drinkware market growth is driven by the rising café culture, especially among millennials and Gen Z. Coffee chains and tea houses, now found abundantly in urban areas, frequently collaborate with brands to introduce limited-edition drinkware. These items, often seen as collectables, further fuel the market’s growth.
Furthermore, cultural festivals, traditions, and regional celebrations provide a significant boost to the market. Festivals like Oktoberfest in Germany, which celebrates beer, invariably lead to heightened demand for beer mugs and steins. Similarly, wine-tasting festivals across the globe see enthusiasts seeking high-quality stemware that enhances the wine’s aroma and flavour.
An in-depth drinkware market analysis also highlights the significant impact of e-commerce platforms on market revenue. Online retail spaces, with their vast variety of choices, convenient shopping experience, and often competitive pricing, have eased the access to premium and international drinkware brands. Consumers can now easily purchase artisanal glassware from Italy or traditional teacups from Japan, thereby enhancing the product diversity and accessibility.
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The drinkware market demand is also influenced by the burgeoning hospitality sector. Luxury hotels, high-end restaurants, and boutique resorts, aiming to offer unique dining experiences, often invest in unique drinkware. Such pieces, tailor-made and often handcrafted, not only enhance the overall dining experience but also fuels the establishment’s theme.
Drinkware Market Segmentation
The market can be divided based on material type and region.
Market Breakup by Material Type
- Glass
- Ceramic
- Plastic
- Steel
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global drinkware market. Some of the major players explored in the report by Expert Market Research are as follows:
- Arc Group
- Anhui Deli Household Glass Co.,Ltd
- Libbey Inc.
- Pasabahce (Sisecam Group)
- Bormioli Rocco S.p.A.
- The Oneida Group Inc.
- Steelite International Limited
- Others
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