Drinkware Market Analysis

Drinkware Market Analysis

Drinkware market share from the mugs and cups segment was valued at over 20 billion in 2022. Disposable cups and ceramic or glass mugs are widely used across restaurants. Increasing preference for takeout has fueled the use of cups at coffee shops. The surging demand for mugs and cups can be attributed to the growing consumption of coffee in developed countries. Coffee is the most consumed beverage in the world with 65% of the population in the U.S. consuming coffee every day. It is significantly popular among young and old adults as it helps improve energy levels, burn fat, and boost physical performance. Growing consumption of beverages with cultural significance such as tea and hot chocolate will boost demand for mugs and cups.
 

Drinkware market value from polymer-based material segment is projected to reach over USD 1.5 billion by 2032. A wide variety of polymers are used to make drinkware bottles and mugs including polypropylene (PP), polyethylene terephthalate (PET), and polyethylene (PE). For instance, polycarbonate is widely used in the manufacturing of refillable water bottles and reusable containers. Polymer-based mugs offer high durability and are popularly used to gift with customized prints, quotes, and designs, facilitated by their large surface area. Food and beverage packaging companies are extensively using PE and low-density PE to make rigid bottles and squeeze bottles respectively.
 

Based on distribution channel, the market share from supermarkets is estimated to surpass USD 30 billion by 2032. Supermarkets are highly preferred by consumers for purchasing products as they offer a wide variety of options, discounts and offers, and a holistic shopping experience. These setups attract buyers with displays that provide combos and paired products, such as protein powders or coffee powders with a tumbler. The availability of drinkware products including cups, bottles, shakers, and mugs in a wide variety of designs, shapes, and colors drives consumers to fulfill their drinkware needs from supermarkets.
 

North America drinkware market is projected to expand at over 5.5% CAGR between 2023-2032. Growing consumer awareness regarding the health benefits of consuming hot beverages to fight infectious diseases is anticipated to fuel the sales of drinkware in the region. The presence of key drinkware manufacturers in the U.S. and Canada will enable significant product innovation. The commencement of new partnerships and product development by these firms will further reinforce business landscape.