Nowadays, Consumers are moving towards convenient products with the changing lifestyle. This is growing mainly because of increasing interest in outdoor activities for which food as well drinkware needs to be carried safely. Due to this, demand for tumblers around the world has been growing steadily. Market Research Hub (MRH) has announced the inclusion of a study titled “Tumblers Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018-2026” to its massive repository, which offers provides in-depth analysis and insights on the global tumblers market landscape. The report discusses the historic and current scenario of the global market, along with the future prospects it holds for 8-year assessment period, 2018-2026.
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Growing efforts by manufacturers to provide innovative packaging solution is one of the prime factors behind this market growth. Tumblers are in great use these days because it reduces the possibility of spillage and has various advantages over conventional cups. Increasing outdoor recreational activities and growing demand for attractive drink ware have created high demand for tumblers. As per the active research evaluations, the revenue generated from sales of steel tumblers has been estimated to be over US$ 732.9 Mn in 2018 and is probable to increase at a CAGR of 5.8% during forecast period.
Geographical Overview and Segmental Insights
In order to understand and assess opportunities in this market, the report is categorically divided into four key sections on the basis of product type, capacity, sales channel and region. The geographical landscape of the study highlights some of the prime regions, such as Latin America, Asia Pacific, North America, Europe and the Middle East and Africa.
As per the study findings, one of the key factors which are expected to play a pivotal role in pushing the demand for tumblers is the demographic outlook for the country/region. As reported, APAC region is estimated to account for the largest share in tumblers market due to change in lifestyle and consumer preferences in this region.
Moving further, the research highlights major product type such as steel, plastic and glass. By capacity, it includes up to 12 oz, 12 to 20 oz, 20 to 30 oz and Above 30 oz. Amongst, 12 to 20 oz segment is expected to dominate the market during the forecast period.
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Manufacturers come up with various innovations in tumblers such as vacuum tumblers with a double wall which allows consumers to keep their beverage hot or cold for an extended period of time. In the concluding section, to assist in proper decision-making, the report includes the profiling of top players in this market. Some of the prime players functioning across the world are Pelican Products, Inc., CamelBak Products, LLC, Can't Live Without It, LLC (S'well Bottle), Tupperware Brands Corporation, Thermos, LLC, Evans Manufacturing, Inc., Hydro Flask, Ee-Lian Enterprise (M) Sdn. Bhd., Cool Gear International, LLC, Klean Kanteen, Inc., Yeti Coolers, LLC, O2COOL, LLC, Bubba Brands, Inc., and Lock&Lock Co., Ltd.
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