Press release

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

0
Sponsored by Businesswire

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.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20190617005300/en/

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
period.

“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
shops.

Looking for more information on this market? Request
a free sample report

Technavio’s sample reports are free of charge and contain multiple
sections of the report, such as the market size and forecast, drivers,
challenges, trends, and more.

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

About Technavio

Technavio
is a leading global technology research and advisory company.
Their research and analysis focuses on emerging market trends and
provides actionable insights to help businesses identify market
opportunities and develop effective strategies to optimize their market
positions.

With over 500 specialized analysts, Technavio’s report library consists
of more than 10,000 reports and counting, covering 800 technologies,
spanning across 50 countries. Their client base consists of enterprises
of all sizes, including more than 100 Fortune 500 companies. This
growing client base relies on Technavio’s comprehensive coverage,
extensive research, and actionable market insights to identify
opportunities in existing and potential markets and assess their
competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team
at media@technavio.com.