Thermos Drinkware Market

Thermos Drinkware Market Overview for 2024 to 2034

The thermos drinkware market is estimated to be valued at USD 3,146.00 million in 2024. The market is expected to cross a valuation of USD 5,425.00 million by 2034. The market is projected to register a CAGR of 5.6% from 2024 to 2034.

Thermos Drinkware Market, Analysis, and Insights

• Thermos water bottles are highly preferred by people in countries with extreme of temperatures, which is one of the key reasons driving growth in the market for thermos drinkware.
• The growing popularity of outdoor activities like hiking, camping, and cycling is raising the demand for insulated drinkware that can keep beverages hot or cold for an extended time.
• Sports enthusiasts are increasingly picking products that boost their exercise, which is driving up the market for thermos drinkware.
• The rise in disposable income, the ability to manufacture items with embedded technology, and the relatively rapid adoption of innovations are expected to drive the market demand.
• Manufacturers are constantly striving to increase the efficiency and capacity of their products to meet rising end-user demand. Partnerships, mergers, and acquisitions are other common strategies adopted by major companies to expand their market share while offering comprehensive solutions.
• The need for sustainable drinkware solutions is expanding rapidly and profitably in North America, the Gulf Council countries, China, and Japan. The thermos water bottle manufacturing industries' significant presence across the world is expected to drive the market globally.

Attributes	Details
Global Thermos Drinkware Market Value for 2023	USD 2,990.50 million
Projected Market Value for 2034	USD 5,425 million
Value-based CAGR for 2024 to 2034	5.60%

Historical Analysis of the Thermos Drinkware Market

The thermos drinkware market was valued at USD 2,990.50 million in 2023. The rising focus on sustainability contributed to the market's rapid expansion. The increased demand for thermos drinkware from sports enthusiasts also contributed to the market’s progress during the historical period. The growing popularity of activities such as hiking, cycling, etc., enhanced sales of thermos drinkware.

Attributes	Details
Historical market valuation, 2023	USD 2,990.50 million

Trends in the Thermos Drinkware Market

• Rising global awareness of plastic pollution is encouraging customers to avoid plastic bottled water, boosting market growth for stainless steel water bottles. The adoption of a healthier lifestyle among consumers to stay hydrated is likely to drive product sales throughout the projection period.
• The decreasing plastic production owing to reduced greenhouse gas emissions is expected to create significant opportunities in the market.
• Increasing environmental awareness, thermos bottles are popular for decreasing the consumption of single-use plastic or paper cups, which supports sustainability efforts. At the same time, the market offers stylish and personalized thermos bottle designs, which appeal to consumers interested in aesthetics and personalization.
• Reusable water bottles are highly preferred by consumers. Despite the high initial cost, they provide long-term savings as bottled water expenses increase.
• Governments across the world are taking steps to gradually reduce single-use plastic water bottles in favour of reusable water bottles made of glass, metals, and other environmentally beneficial and safe materials.
• The introduction of luxury thermos water bottles by leading design companies has generated substantial interest in consumers with better purchasing power and a more defined sense of style and fashion.
• The increasing awareness of sustainability and recyclability of product materials is expected to create significant opportunities during the forecast period. Moreover, adapting eco-friendly products worldwide further contributes to the market's growth.
• The integration of automation and advanced features in a thermos, such as heat indicators and automated heating and cooling capacity, increases revenue while reducing manual efforts.
• Consumer trends and preferences for appealing colors and designs offered by market players are also significantly contributing to the market. Consumers are increasingly adopting reusable thermos drinkware as a result of changing lifestyles, environmental concerns, health considerations, etc.
• The rising social media adoption has increased consumer awareness of customized and personalized thermos drinkware, which is projected to support industry expansion.
• Several industries are using IoT technology to create user-friendly and intelligent products. Using Internet of Things (IoT) technology, smart thermos drinkware bottles are being produced by manufacturers. IoT technologies connect product designers and users to collect real-time data usage.

Challenges for the Thermos Drinkware Market

• The increased competition from alternative products and materials claiming similar insulating features is expected to hinder the market.
• As consumers become more environmentally conscious, there is an increasing need for eco-friendly and sustainable options, such as reusable glass or stainless-steel containers, posing limitations for traditional thermos drinkware made from materials that may not align with evolving sustainability expectations.
• The easy and widespread availability of lower-cost bottle products hinders industry expansion. Furthermore, using a stainless-steel thermos bottle for extended periods is expected to increase the chance of liquid contamination, reducing product demand. The intense competition of local industry competitors has hampered future market expansion.

Category-wise Outlook

The thermos drinkware market can be split up into two categories: product type and sales channel. The water bottle segment is expected to dominate the product type category. Online retailers facilitate higher sales of the products in the thermos drinkware market.

The Water Bottle Segment Dominates the Market by Product Type

The water bottle segment is projected to hold a market share of 50.20% in 2024 due to the rising popularity of thermos water bottles among students and athletes. These bottles provide health benefits along with the convenience of keeping water at room temperature. This widespread utilization of water bottles is enhancing their sales, contributing to the market’s growth.

Attributes	Details
Top Product Type	Water Bottle
Market Share in 2024	50.20%

The Online Retailers Segment Dominates the Market by Sales Channel

The online retailers segment is expected to hold a market share of 23.60% in 2024. The growing popularity of the channel among consumers is due to the product availability under one roof and an influential layout, which encourages customers to buy products from these stores.

Attributes	Details
Top Sales Channel	Online Retailers
Market Share in 2024	23.60%

Country-wise Analysis

The market's depth has increased over the years. However, certain regions account for a significant portion of the market share. The major countries with higher growth prospects in the market have been highlighted in the table below.

The market is dominated by North America, Europe, and Asia Pacific. Growing trends in Europe and North America have increased sales of portable drinkware. The growing demand for sustainable products in Asia Pacific contributes to the market’s growth.

Countries	CAGR (2024 to 2034)
United States	5.50%
India	5.90%
Germany	5.70%
China	5.80%
Australia	6.10%

Thermos Drinkware Market in the United States

• The increasing popularity of outdoor activities like hiking, camping, and cycling in the country drives the thermos drinkware market.
• The rising awareness of the health benefits of staying hydrated also contributes to the market growth. Moreover, the rising disposable income of consumers is enabling them to invest in high-quality drinkware that can keep their beverages hot or cold for an extended period.

Thermos Drinkware Market in India

• The growing awareness of the health advantages of being hydrated has resulted in the growth in demand for insulated drinkware in the region that can keep liquids hot or cold for a prolonged period.
• The rising popularity of sports activities has also aided market expansion. The thermos drinkware industry is likely to increase further over the coming years.

Thermos Drinkware Market in Germany

• Urbanization, increased consumer disposable incomes, and the growing popularity of online shopping are all important factors driving market expansion in the country.
• These factors have contributed to an increase in demand for numerous items and services across several industries, including retail. As a result, to remain relevant and competitive in the market, companies are responding to shifting customer trends and preferences.

Thermos Drinkware Market in China

• The rising trend of urban living is stimulating the demand for portable drinkware, including thermos bottles, to provide a convenient solution for staying hydrated at work.
• Furthermore, people in Asian countries have a common habit of drinking hot water throughout the day, which is said to have health benefits.

Competitive Landscape in the Thermos Drinkware Market

Market profitability is defined by cost efficiency. Companies are concentrating on manufacturing process optimization.

The majority of companies are focusing on providing customized solutions. The major businesses in the global thermos drinkware market are focusing on the production and expansion of their drinkware range globally.

Recent Developments in the Thermos Drinkware Market

• In 2023, MIJIS Thermos Flask is a new product from Xiaomi. This thermos has a 1.8 L capacity. The product is designed for long-term cold storage and heat retention.
• In 2023, Thermos L.L.C. has announced the launch of the all-new IconTM Series. The new product line includes hot beverage and food preservation options and an expanded range that includes cold beverages and hydration products. These offerings promote consumer convenience, with all goods incorporating a GriptecTM Non-Slip Base and a True-CoatTM Finish, providing a user-friendly design.
• In 2023, Hydro Flask launched new TempShield insulation technology, which claims to keep drinks cold for up to 24 hours and hot for up to 12 hours.
• In 2023, Tiger Corporation introduced the new MoMA Collection of thermos products designed by Naoto Fukasawa, a prominent Japanese designer.
• In 2022, Contigo launched a new Autoseal XL mug with a larger capacity for those who need more hydration.
• In 2022, L.L.C. launched a new Hydration Collection of drinkware with features designed to keep users hydrated on the go.

Key Players in the Thermos Drinkware Market

• Thermos L.L.C. (USA)
• YETI Holding Inc. (USA)
• Contigo (USA)
• Hydro Flask (USA)
• Stanley PMI (USA)
• Zojirushi America Corporation (Japan)
• Klean Kanteen (USA)
• Camelbak (USA)
• Sigg Switzerland AG (Switzerland)
• Tiger Corporation (Japan)
• KINTO Co., Ltd. (Japan)
• Miir (USA)
• Mizu Life (USA)
• The BlenderBottle (USA)
• Igloo (USA)
• Ello Products (USA)
• Nalgene (USA)

Key Segments in the Thermos Drinkware Market

By Product Type:

• Water Bottle
• Mugs and Tumblers
• Beverage Bottle

By Sales Channel:

• Specialty Stores
• Convenience Stores
• Supermarkets/Hypermarkets
• Online retailers

By Region:

• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• Middle East and Africa (MEA)

Frequently Asked Questions

What is the Size of the Thermos Drinkware Market in 2024?

In 2024, the size of the thermos drinkware market is estimated to be USD 3,146.00 million.

What is the Trend in Thermos Drinkware Market?

Increasing use of advanced technology and fitness activities worldwide is one of the major trends in the market.

What is the Future Outlook of the Market?

The market is expected to progress at a remarkable CAGR of 5.60% from 2024 to 2034.

What is the Projected Size of the Market by 2034?

The size of the market is forecasted to reach USD 5,425.00 million by 2034.

Who are the Prominent Players in the Thermos Drinkware Market?

Thermos L.L.C., YETI Holding Inc., Contigo, and Hydro Flask are some of the prominent players in the market.