Drinkware Market Size Worth $4.79 Billion by 2025 | CAGR: 3.1%: Grand View Research, Inc.

SAN FRANCISCO, July 24, 2019 /PRNewswire/ -- The global drinkware market size is anticipated to reach USD 4.79 billion by 2025 registering a CAGR of 3.1%, according a new report by Grand View Research, Inc. Rising product demand from the hospitality and food service industry and increasing beverage consumption are expected to augment the market growth. Moreover, several initiatives by key companies to introduce products made of eco-friendly materials will contribute to the market development.

Key suggestions from the report:

• Plastic material segment is projected to register the fastest CAGR of 3.5% from 2019 to 2025 on account of high demand for plastic products due to their durability and lower price
• The glass material segment accounted for the largest share of the global drinkware market in 2018 and is expected to maintain its dominant position throughout the forecast years
• Europe is expected to be the largest regional market over the forecast period owing high consumption of various beverages
• Some of the leading companies in the global market are Arc International, AnHui DeLi Glassware, Libbey, Pasabache, Bormioli Rocco, The Oneida Group, Steelite International, and Ocean Glass

Read 80 page research report with TOC on "Drinkware Market Size, Share & Trends Analysis Report By Material Type (Glass, Steel, Ceramic, Plastic), By Region (North America, Central & South America, APAC, Europe, MEA), And Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/drinkware-market

Moreover, introduction of innovative and luxurious designs will drive the demand further. To control the harmful effects of plastic drinkware on the environment and health, companies are introducing safe and recyclable drinkware. For instance, TOSSWARE offers Crystal Clarity TOSSWARE®, which is 100% BPA-free, made of highest-quality polymer, and is shatterproof. Glass-based drinkware accounted for the largest share of 35.23% in 2018. Steel is gaining popularity as it is temperature-sensitive, highly durable, and completely recyclable.

Urban Bar introduced a range of steel-based drinkware named, Tiki Barware, which has Hawaiian themed tiki patterns on it. Asia Pacific is expected to be the fastest-growing regional market over the forecasted period. Rapid growth in hospitality industry and increasing consumer disposable income levels are the main factors driving the market growth in this region. For instance, the coffee sales by Cafe Coffee Day increased from 1.6 million cups in 2017 to over 2 million cups in 2018.

Grand View Research has segmented the global drinkware market on the basis of material type and region:

• Drinkware Material Type Outlook (Revenue, USD Million, 2015 - 2025)
• Glass
• Ceramic
• Plastic
• Steel
• Drinkware Regional Outlook (Revenue, USD Million, 2015 - 2025)
• North America
• U.S.
• Europe
• Germany
• U.K.
• Asia Pacific
• China
• India
• Central & South America
• Brazil
• Middle East & Africa
• Africa

Find more research reports on Consumer Goods Industry, by Grand View Research:

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• Beard Oil Market – The beard oil market growth can be attribute to the rising awareness about these products and increasing target population across the globe.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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