The Global Thermos Bottle Market size is expected to reach $7.1 billion by 2030, rising at a market growth of 5.1% CAGR during the forecast period.In the year 2022, the market attained a volume of 128.2 million units, experiencing a growth of 4.7% (2019-2022).
The growing development of sports in the Asia Pacific region lead towards growth in demand of these Bottle. Therefore, the Asia Pacific segment is expected to acquire approximately 2/5th share of the market by 2030. Increasing residential & commercial infrastructure settlements are responsible for this. During the projection period, the market expansion will also be fueled by the presence of well-known manufacturers in the region. The region's e-commerce market is also growing. As a result, these bottles would become even more popular and widely available, encouraging the growth of the regional market. Some of the factors impacting the market are the growing spending of consumers in sports and leisure, growing coffee and tea culture, and the broad availability of alternative options.
The market will expand faster due to rising consumer spending on outdoor and sports-related goods like wearable technology, shoes, thermos bottles, backpacks, and other items like water bottles and water bottles. The sports tourism sector contributed $39.7 billion in direct expenditure in 2021, which culminated in a $91.8 billion total economic impact, according to Sports ETA, the only trade organization for the sports events & tourism industry. Due to its ease of use, durability, and portability, water bottles are commonly employed in outdoor activities like sports, hiking, picnics, and festivals. Thus, the market is anticipated to rise rapidly in the coming years due to the rising popularity of sporting activities. Moreover, Coffee is among the most common beverages consumed worldwide and is also one of the most traded commodities. The world's top importers and consumers of coffee are the European Union and the United States of America, while the largest producers are Vietnam, Brazil, and Colombia. With the growth in the working population, individuals have started carrying homemade coffee and tea with them to workplaces. As a result, this market would expand during the projection period.
However, this market is challenged by several substitutes, including disposable coffee cups, single-use plastic bottles, and insulated travel mugs. The pricing and convenience choices of consumers may have an impact on the demand for conventional thermos bottles. These alternatives are also more extensively available in the markets and more practical to utilize. The people will no longer need to carry a bottle around with them as a result. This would ultimately result in the declining demand and thus hamper the market's growth.
On the basis of application, the market is fragmented into household and commercial. The commercial segment garnered a significant revenue share in the market in 2022. Thermos bottle usage is steadily growing in the commercial sector. It has numerous uses in the manufacturing, warehousing, healthcare, food service, pharmaceuticals, and convenience shops industries. Due to this product's great efficiency and longevity, end-user industries are seeing an increase in demand.
By material, the market is segmented into stainless steel, plastic, glass, and others. The glass segment acquired a substantial revenue share in the market in 2022. Because there is little to no possibility of chemicals interacting with and contaminating the product, glass bottle packaging is substantially safer. Additionally, the glass bottle packaging preserves the food or beverage's flavor. People are drawn to a healthy lifestyle as a result of the pandemic. In addition to leading a healthy lifestyle, they intentionally choose to buy sustainably, especially on a daily basis.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 4.8 Billion |
| Market size forecast in 2030 | USD 7.1 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 5.1% from 2023 to 2030 |
| Number of Pages | 249 |
| Number of Table | 510 |
| Quantitative Data | Volume in Million Units, Revenue in USD Million, and CAGR from 2019 to 2030 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Material, Application, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America region led the market by generating the largest revenue share. This is because these bottles are widely used in the residential sector. For storing beverages, including smoothies, coffee, fruit juice, tea, and other beverages, most Americans utilize these bottles. The market is expanding as a result of rising ready-to-drink beverage consumption.
Free Valuable Insights: Global Thermos Bottle Market size to reach USD 7.1 Billion by 2030
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Thermos LLC, Fuguang Group, Panasonic Holdings Corporation, Midea Group Co., Ltd., Hydro Flask (Helen of Troy Limited), Klean Kanteen, Hamilton Housewares Pvt. Ltd., CamelBak (Vista Outdoor), LocknLock Co., and Contigo Brands (Newell Brands).
By Material (Volume, Million Units, USD Million, 2019-2030)
By Application (Volume, Million Units, USD Million, 2019-2030)
By Geography (Volume, Million Units, USD Million, 2019-2030)
This Market size is expected to reach $7.1 billion by 2030.
Growing Coffee and Tea Culture are driving the Market in coming years, however, The wide availability of alternative options restraints the growth of the Market.
Thermos LLC, Fuguang Group, Panasonic Holdings Corporation, Midea Group Co., Ltd., Hydro Flask (Helen of Troy Limited), Klean Kanteen, Hamilton Housewares Pvt. Ltd., CamelBak (Vista Outdoor), LocknLock Co., and Contigo Brands (Newell Brands).
In the year 2022, the market attained a volume of 128.2 million units, experiencing a growth of 4.7% (2019-2022).
The Stainless-Steel segment is leading the Market by Material in 2022; thereby, achieving a market value of $2.9 Billion by 2030.
The North America region dominated the Market by Region in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $2.5 Billion by 2030.
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