What is the future of Drinkware Market? Know Covid Impact on Size, Share & Forecasts
August 04, 2020
It was estimated prior to this unanticipated outbreak that the Drinkware Market was likely to witness an impressive CAGR of 5.2% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
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Market Share Analysis
Drinkware Market Share: By Product Type
Based on the product type, the market is segmented as bottles and mugs & cups. The bottles segment dominated the market in 2019 and is expected to maintain its position during the forecast period. Increasing demand for bottled water from athletes and household consumers is the major factor driving the growth of bottle segment.
Drinkware Market Share: By Application Type
Based on the application type, the drinkware market is segmented as domestic and commercial application. Commercial application is expected to remain the larger application segment of the market owing to its widespread usage by commercial and sports persons. Further, rising demand from restaurants, cafes, and fast food chains are acting as a catalyst towards the growth of the market.
Drinkware Market Share: By Material Type
Based on the material type, the drinkware market is segmented as polymer, metal, glass, silicone, and ceramic. The polymer segment dominated the market owing to its low cost and ease of handling features. However, rising concern towards plastic waste and its recyclability are the major factors which may hamper the growth of the segment.
Drinkware Market Share: By Region
In terms of regions, Asia-Pacific is estimated to be the largest market for drinkware during the forecast period. China, Japan, South Korea, Taiwan, Australia, and India are the largest consumer of drinkware in the region. Surge in sports activities, increasing disposable income of consumers, surge in women participation as working group, and stringent regulation towards reducing plastic waste are the major factors driving the growth of Asia-Pacific region. North America and Europe are also expected to witness a healthy demand for drinkware products during the forecast period.
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Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
Based on the research, a proper report is crafted with the following key features:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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