According to a new market report published by Lucintel, the future of the global drinkware market looks good with opportunities in houseware, food services, and retail industry. The global drinkware market is expected to reach an estimated $11.7 billion by 2023 with a CAGR of 3% from 2018 to 2023. The major growth drivers for this market are increase in beverage consumption, growing hotel and catering industries, and increasing middle class disposal income.
In this market, glass, bone china, porcelain/stoneware, and steel are used for manufacturing of drinkware products. On the basis of comprehensive research, Lucintel forecasts that glass will remain the largest material type, and will also witness the highest growth over the forecast period due to low cost, environmentally friendly, and low health risk benefits.
Within the drinkware market, everyday glass will remain the largest product type and witness the highest growth over the forecast period due to its multipurpose and versatile use for households.
Asia Pacific is expected to remain the largest region and witness the highest growth over the forecast period due to growing population, increasing disposal income, and growth in the hospitality industry.
Emerging trends that have a direct impact on the dynamics of the industry include increasing use of luxury drinkware made of BPA free co-polyster, and use of drinkware as promotional products. Arc International, AnHui DeLi Glassware, Libbey, Pasabache, Bormioli Rocco, The Oneida Group, Steelite International, and Ocean Glass are among the major suppliers of drinkware market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global drinkware market by material, product type, end use, and region, and has compiled a comprehensive research report entitled “Growth Opportunities in the Global Drinkware Market 2018-2023: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global drinkware market by product type, material, end use, and region, as follows:
By Material Type [Value ($ Million) from 2012 to 2023]:
• Bone China
By Product Type [Value ($ Million) from 2012 to 2023]:
• Wine Glass
• Beer Glass
• Coffee Mugs and Tea Cups
• Everyday Glass
• Cocktail Glass
• Spirit Glass
By End Use [Value ($ Million) from 2012 to 2023]:
• Personal Use
• Commercial Use
By Region [Value ($ Million) from 2012 to 2023]:
• North America
This 193-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or firstname.lastname@example.org. Lucintel offerings include Consumer Goods Report, Consumer Market Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT Matrix.
This report addresses the following key questions:
Q. 1. What are some of the most promising, high-growth opportunities for global drinkware market by product type, which includes wine glass, beer glass, coffee mugs and tea cups, everyday glasses, cocktail, spirit, and others, material (glass, bone china, porcelain/stoneware, steel, and others), end use (commercial, and personal), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q. 2. Which products segments will grow at a faster pace and why?
Q. 3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the drivers, challenges, and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market and which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are being taken by key companies for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by product substitution?
Q. 11. What M&A activity has occurred in the last 5 years?