Press release

Global Drinkware Market 2019-2023 | Introduction of Luxurious Drinkware Products to Boost the Market | Technavio

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The global drinkware market is expected to post a CAGR of more than 3%
during the period 2019-2023, according to the latest market research
report by Technavio.

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Technavio has published a new market research report on the global drinkware market from 2019-2023.  ...

Technavio has published a new market research report on the global drinkware market from 2019-2023. (Graphic: Business Wire)

Over the last couple of years, the online sales of drinkware products
have been witnessing significant growth owing to the advantages offered
by online platforms. Vendors in the market are increasingly taking
initiatives to improve their online distribution to scale their business
at a reduced cost and to expand their reach globally. The online
platform enhances the visibility of products and provides convenience to
consumers. Furthermore, the availability of a comprehensive product
portfolio on online platforms is backing the growth of the online
distribution channel. Therefore, access to online distribution channels
and growing online sales of drinkware products are expected to impact
the drinkware market growth during the forecast period.

As per Technavio, the introduction of luxurious drinkware products with
innovative functionalities will have a positive impact on the market and
contribute to its growth significantly over the forecast period. This global
drinkware market 2019-2023
research report also analyzes
other significant trends and market drivers that will affect market
growth over 2019-2023.

Global drinkware market: Introduction of
luxurious drinkware products with innovative functionalities

The drinkware market is witnessing increased innovations and advances
with vendors focusing on introducing luxurious products with improved
functionalities. For instance, some vendors have recently introduced
innovative drink glasses with various features such as
temperature-sensing. Similarly, other vendors are offering premium wine
and shot glasses that are rimmed with accents of 24-karat gold, which
targets sales from high-net-worth consumers. Such innovations are
expected to fuel the growth of the drinkware market during the forecast

“Apart from the introduction of luxurious drinkware products with
innovative functionalities, other factors such as the increased
introduction of steel glasses and handmade color glasses, and the
personalization of drinkware for gifting purposes will have a
significant impact on the growth of the drinkware market size during the
forecast period,” says a senior analyst at Technavio.

Global drinkware market: Segmentation analysis

This market research report segments the global drinkware market by
end-user (commercial, and residential), and geographic regions (APAC,
North America, Europe, South America, and MEA).

The APAC region led the drinkware market in 2018, followed by North
America, Europe, South America, and MEA, respectively. The growth of the
drinkware market in APAC can be attributed to the increasing population,
rising incomes, and the growing number of nightclubs in metropolitan
cities. The market growth is also driven by the adoption of Western
culture of consuming premium coffee and socializing in coffee bar and

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

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