During the projection period, it is predicted that the market for insulated drinkware will grow at a CAGR of more than 6%. (2020-2030). Consumer preferences for drinkware products have changed recently, with the majority of customers now choosing to purchase utility-based drinkware, such as multicomponent bottles, interlocking cans, aerosol cans, etc. Sales of insulated drinkware and other utility drinkware have increased as a result of this phenomenon.
The COVID-19 outbreak has had a significant and long-lasting effect on the consumer goods sector. The consumer goods industry has undergone significant structural changes as a result of the crisis, which have fundamentally altered how and what consumers buy. Insulated drinkware sales are declining rapidly, as is consumer spending on household goods 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.
Product
- Water Bottles
- Cans
- Mugs
Body Type
- Stainless Steel
- Plastic Insulated
Capacity
- Less than 500 Ml
- 750 Ml
- 1 Liter
- 1.25 Liters – 2 Liters
- Above 2 Liters
Sales Channel
- Supermarkets and Hypermarkets
- Specialty Stores
- Convenience Stores
- Online Stores
- Other Channels
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
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
Key Question answered in the survey of Insulated Drinkware market report:
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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.