Drinkware is containers used to drink water, beverage, or juices, or any liquid product. In ancient period, metal drinkware was the popular one, now the trend has shifted to glass, ceramic, clay, and polymer. Glass drinkware is available in different types such as goblet, champagne saucer, champagne flute, red wine glass, cordial, high ball, finger bowl, decanter, pitcher, among others. The drinkware is available in a variety of finishes, detailed textures, personalized by etching.
After a period of development, the industry is at a growth stage. With the continuous upgrading of products and the development of technology and economy, the market continues to expand. The Drinkware industry is primarily a centralized market. Market concentration is relatively high. The market share of the top three companies in 2019 was 50.70%. The market is driven by factors, such as significant product demand from the hospitality and foodservice industry and increasing beverage consumption. Also, initiatives by major companies to introduce innovatively, designer products made of eco-friendly materials will boost market growth.
There are two main types of cup-ware, including hot drink cup-ware and cold drink cup-ware. Most cold beverage drinkware is made of polycarbonate, stainless steel and glass. Polycarbonate beverage drinkware is very suitable for any cold summer beverage. Unbreakable and dishwasher safe. Stainless steel drinkware can keep the beverage at a cold temperature. It is generally made of double-layer insulation and stainless steel, which is strong and durable. Glass drinkware can maintain the temperature of cold drinks, while the outer surface always makes the customer feel comfortable. Its two walls allow customers to keep the temperature of the beverage while preventing condensation from forming on the outer wall. Most hot beverage drinkware is made of ceramic, glass and stainless steel. Ceramic is one of the most commonly used materials in beverage manufacturing today, and is very suitable for hot drinks such as tea, hot chocolate and coffee. This is because the ceramic material helps maintain the temperature and keep hot drinks hot for a long time. Glass drinkware is an aesthetically pleasing vessel, but it usually does not travel well. Thick glass materials are heavy-duty materials that have high temperature insulation properties, but they are not lightweight. Stainless steel drinkware is vacuum insulated, which can keep hot beverages hot for up to 12 hours and have a longer service life.
Cups are commonly used in the following industries. Beverage service is one of the pillars of the commercial restaurant and food service industry. The restaurant must use commercial anti-drop utensils. They are durable and safe alternatives. Beautiful glasses, glasses, goblets and cups will impress customers. Providing customers with beverages in unique containers can increase profitability and repeat business. Cups are used by individuals as well as businesses. The types, patterns, shapes and materials of drinkware for private use are more diverse. Personal drinkware water cups are usually containers for people to hold liquids. They can be used to drink tea, water, and beverages. Personal drinkware is usually made of plastic, glass, ceramic or stainless steel.
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North America Drinkware Market Analysis and Forecast
According to our research, the North America Drinkware market has a total production value of 1144.73 M USD back in 2015, and increased to 1646.65 M USD in 2019. We made a series of functional calculation and deduced the past 5 year’s data with scientific model. Finally, we made the prediction that the value of Drinkware markets can be 2426.73 M USD by 2025. The CAGR of Drinkware is 7.48% from 2020 to 2025.
America was the largest revenue market with a market share of 78.33% in 2015 and 78.94% in 2019, an increase of 0.61%. In 2019, the Canada market share was 15.23%, ranking second. In addition, the Mexico Drinkware market is expected to be the growing market. Development of economy, increase downstream demand, technology innovation progress in these areas will promote the Drinkware market. Drinkware sale companies are mainly from North America; the industry concentrate rate is high. The top three companies are YETI Coolers, Contigo and CamelBak with the revenue market share of 29.40%, 13.44% and 7.85% in 2019.
The growth of the Drinkware market is partially driven by market demand. With the North America economic growth, the industry of downstream applications of Drinkware is also expanding, especially in the commercial market. The expansion of the downstream application industries continues to play an active role in the expansion of the Drinkware market. At the same time, the policies of the Drinkware industry in various regions are becoming stricter. This may become a factor that hinders Market growth.
Impact of the Outbreak on the North American Drinkware Market
During COVID-19, in view of strict shutdowns and import and export restrictions, sourcing raw materials for drinkware has been a key challenge. The import of drinkware is restricted, which will affect downstream consumption. The main brands of drinkware have been working hard to meet the demand, which has created new players in the market, so the competitiveness will become more intense.
When the crisis began, the sales and traffic of Drinkware\'s offline retail industry dropped sharply. During the new coronavirus crisis, these stores were closed for a long time. Because retailers in many countries close their doors to protect the safety of consumers and workers or to comply with government orders. According to the current government guidelines, many parts of North America are working hard to deal with the epidemic, and public holidays have been banned. These factors have led to a decline in sales in the drinkware market. The downstream industries of Drinkware are mainly bars, restaurants and restaurants. These places are controlled by the governments of many countries, most of which have been suspended. Following the coronavirus, the situation in the catering industry also seems to be severe. Beverage spending is driven by the economy. If all sectors of the economy are hit, there will be fewer people drinking outside. Moreover, when COVID-19 is controlled, the downstream industry of drinkware may be the last industry to accelerate its development. This will also have a negative impact on the drinkware market. Under the pressure of this epidemic, drinkware has also begun to accelerate its "online" sales, and online channel sales have also shown a trend of rapid growth against the trend. For drinkware, its main purchase channel has now been transformed into an e-commerce platform. Since 2019, with the popularity of social e-commerce and real-time broadcasting, the proportion of online drinkware has increased greatly again. Currently, online has become its number one channel.
The impact of the epidemic has both advantages and disadvantages, and may also promote the development of the industry to a certain extent. Enterprises may pay more attention to promoting automation and flexible production, hiring more high-tech talents and high-skilled and multi-skilled composite workers, reducing their dependence on labor, and better coping with labor fluctuations. At the same time, more and more attention will be paid to the standardization of parts and components, the Intelligent of logistics and the enhancement of the risk resistance capabilities of the supply chain.
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