DALLAS, Oct. 25, 2018 (GLOBE NEWSWIRE) -- According to a new market report published by Lucintel, the future of the global drinkware market looks good with opportunities in houseware, food services, and retail industry. The global drinkware market is expected to reach an estimated $11.7 billion by 2023 with a CAGR of 3% from 2018 to 2023. The major growth drivers for this market are increase in beverage consumption, growing hotel and catering industries, and increasing middle class disposal income.
Browse 86 market data tables and 152 figures spread through 193 pages and in-depth TOC on “Global Drinkware Market" at https://www.lucintel.com/drinkware-market.aspx
In this market, glass, bone china, porcelain/stoneware, steel, and others are used for drinkware manufacturing for material. Lucintel forecasts that glass will remain the largest material type, and will also witness the highest growth over the forecast period due to low cost, environmentally friendly, and low health risk benefits.
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Within the drinkware market, everyday glass will remain the largest product type and witness the highest growth over the forecast period due to its multipurpose and versatile use for household.
Asia Pacific is expected to remain the largest region and witness the highest growth over the forecast period due to growing population, increasing disposal income, and growth in the hospitality industry.
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Emerging trends that have a direct impact on the dynamics of the drinkware industry include increasing use of luxury drinkware made of BPA free co-polyster, and use of drinkware as promotional products. Arc International, AnHui DeLi Glassware, Libbey, Pasabache, Bormioli Rocco, The Oneida Group, Steelite International, and Ocean Glass and others are among the major suppliers of drinkware.
Lucintel, a leading global market research firm has analyzed growth opportunities in the global drinkware market by product type, material, end user, and region has compiled a comprehensive research report entitled “Growth Opportunities in the Global Drinkware Market 2018-2023: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global drinkware market by product type, material, end user, and region.
For a detailed table of contents, contact Lucintel at +1-972-636-5056 or mail at helpdesk@lucintel.com.