PUBLISHER: Grand View Research | PRODUCT CODE: 1493498
PUBLISHER: Grand View Research | PRODUCT CODE: 1493498
The North America drinkware market size is anticipated to reach USD 11.45 billion by 2030 and is projected to grow at a CAGR of 6.8% from 2024 to 2030, according to a new report by Grand View Research, Inc. The emergence of transformational travel and wellness trips has positively impacted the market growth. In addition, the prominence of outdoor recreational activities such as camping and hiking has directly impacted the demand for stainless steel bottles, which can maintain the temperature of the liquid inside.
According to a survey conducted in June 2022, which was sponsored by Contigo, a part of The Coleman Company Inc. within the Newell Brands portfolio, after picking up their phone, wallet, and keys, reusable beverage containers are considered the next most essential item people grab before leaving their homes. In addition, 84% of American participants favored reusable beverage containers, driving the demand for drinkware in North America.
In the North American market, the preference for travel mugs that can be used for hot as well as cold beverages is prominent owing to the rising demand for stainless steel, vacuum-insulated mugs. Metal drinkware, in particular, stands out due to its superior durability compared to other materials, presenting a more economically and environmentally viable option. This growing emphasis on sustainable and practical drinkware solutions is a key factor driving the market growth of the North America. According to CivicScience data, in December 2022, 60% of adults in the U.S. opt for reusable bottles. In alignment with this trend, Starbucks is reintroducing the option and encouraging customers to use their reusable drinkware by offering discounts.
In North America, the number of people taking summertime trips has increased, which helps to drive up sales of insulated water bottles. These factors impact the overall demand for drinkware. Considering the trend, companies have also been manufacturing stainless steel water bottles for easy grip and portability. For instance, in July 2020, LifeStraw launched the LifeStraw Go water bottle that holds 24 ounces of liquid, is made of double-wall stainless steel, and offers a flip-top, straw-like mouthpiece. The company aims to reduce the use of single-use plastic water bottles for hiking and international travel.