The market for Cans Drinkware is expected to develop at a CAGR of more than 6% during the forecast period. (2020-2030). Consumer tastes in drinkware have shifted recently, with the bulk of customers now opting for utility-based drinkware such as multicomponent bottles, interlocking cans, aerosol cans, and so on. As a result of this occurrence, sales of insulated drinkware and other utility drinkware have soared.
The COVID-19 epidemic had a substantial and long-term impact on the consumer products industry. As a result of the crisis, the consumer products sector has experienced enormous structural changes, which have profoundly affected how and what people buy. Sales of insulated drinkware are fast dropping, as is consumer expenditure on home products in general.
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Insulated Drinkware Market: Segmentation
FactMR's study has done the segmentation of the insulated drinkware market on the basis of product, body type, capacity, and sales channel, across seven regions.
- Water Bottles
- Stainless Steel
- Plastic Insulated
- Less than 500 Ml
- 750 Ml
- 1 Liter
- 1.25 Liters - 2 Liters
- Above 2 Liters
- Supermarkets and Hypermarkets
- Specialty Stores
- Convenience Stores
- Online Stores
- Other Channels
- North America
- Latin America
- East Asia
- South Asia
Key Takeaways of the Global Insulated Drinkware Market
- Insulated drinkware market accounts for around 10% of the overall drinkware market, though it has been witnessing a higher growth as compared to the drinkware market
- The upsurge in demand of insulated drinkware of 1 Litre capacity presently accounts for around 50% of the market share and is projected to show an upward growth trajectory in the market through the forecast period
- Supermarkets and hypermarkets will continue to have the largest share for insulated drinkware and are projected to grow 1.9X over forecast period
- North America and Europe together account for over 60% of the insulated drinkware consumption, owing to higher dollar spending on insulated drinkware vis-à-vis other regions
- Global insulated drinkware market is highly fragmented. Three-fourth of the market share is accounted for by small regional manufacturers
- Brand owners of insulated drinkware carry a profitability margin of 6% - 8%, though with the increasing raw material prices and emergence of several regional players, there exists a constant pressure on product pricing
More Valuable Insights on Insulated Drinkware Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Insulated Drinkware, Sales and Demand of Insulated Drinkware, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.