PUBLISHER: Orion Market Research | PRODUCT CODE: 1215818
PUBLISHER: Orion Market Research | PRODUCT CODE: 1215818
Title:Global Thermos Bottle Market Size, Share &Trends Analysis Report By Material (Stainless Steel, Plastic, Glass, and Others), By Technology (Hydration Tracking Apps, Sensor, and Bluetooth), and By Application (Household and Commercial) Forecast (2022-2028).
The global thermos bottle market is anticipated to grow at a significant CAGR of 4.6% during the forecast period. The rising sports activities among people increase the use of thermos bottles which led to the growth of the global thermos bottle market. Increasing sports and outdoor activities also increases the water intake which increases the need for the bottle and people prefer to use thermos bottles due to their benefits such as maintaining the temperature of the liquid, preserving for a longer period, and many more. Increasing outdoor activities and consumer preference for using thermos bottles drive the growth of the thermos bottle market across the globe.
The global thermos bottle market is segmented based on technology, material, and application. Based on the technology, the market is sub-segmented into hydration tracking apps, sensors, and Bluetooth. Based on material, the market is segmented into stainless steel, plastic, glass, and others. Based on application, the market is segmented into household and commercial. Among the application, the commercial sub-segment is expected to hold a prominent share in the growth of the global thermos bottle market. The usage of thermos bottles increases in the commercial sector as many companies gift personalized thermos bottles to their employees which contributes to the growth of the global thermos bottle market. For instance, Mostop offers stainless steel thermos bottles in different colors and customers can get customized their name or text on the water bottle by Laser Engraved. The product is available online.
Geographically, the global thermos bottle market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. The Asia-Pacific region is expected to be the fastest-growing region in the global thermos bottle market during the forecast period. The high presence of key manufacturers of thermos bottles such as Panasonic Corp., Nanlong Group, and others in the region is driving the growth of the global thermos bottle market. Additionally, rising disposable income in countries such as India and China has increased the demand and purchase of the innovative thermos bottle further leading to market growth and new product launches. For instance, in October 2020, Xiaomi Youpin launched Mijia Bullet Thermos with a pop-up cover. The new Mijia Bullet Thermos achieves 6 hours of heat or cold preservations, in indoor testings at 20°C with liquid as hot as 95°C. After 6 hours, the water temperature only dropped to about 68°C and was priced at 99 Yuan (15 US Dollars).
The major companies serving the global thermos bottle market include Anhui Fuguang Life Technology Co. Ltd., BOROSIL, Hamilton Housewares Pvt. Ltd., Laken Productos Deportivos S.A., New Leaf Retail Technologies Pvt. Ltd. (Nestasia), and Others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in April 2022, Xiaomi launched a normal 500ml Xiaomi-branded Mini Thermos Flask built with high-quality 316-Grade Stainless Steel in the interior and 304-Grade Stainless Steel for the exterior.
Research Methodology
The market study of the global thermos bottle market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to break down the market into various segments, and derive the total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives as possible, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.
Secondary Sources Include:
The report provides an in-depth analysis of the market size, and intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.
Market Segmentation
The Report Covers: