According to Future Market Insights research, during the projected period, the reusable tumblers market is set to enjoy a valuation of USD 92.1 Million in 2023, and further expand at a CAGR of 5.6% to reach USD 159.2 Million by the year 2033. The reusable tumblers are anticipated to bolster with the top 5 providers holding 15-20% of the global reusable tumblers market in 2023.
Based on the material, the metal segment is projected to remain the leading segment among the other material used for manufacturing reusable tumblers. The stainless steel segment is projected to hold around 55.8% of the market share by the end of 2033.
| Attributes | Details |
|---|---|
| Market Size 2023 | USD 92.1 million |
| Market Size 2033 | USD 159.2 million |
| Value CAGR (2023 to 2033) | 5.6% |
| Collective Value Share: Top 3 Countries (2023E) | 20 to 25% |
According to the FMI analysis, the reusable tumblers market revenue totaled USD 88.0 Million in 2022. With the propelling demand from the various end-users, the global reusable tumblers market is projected to reach USD 159.2 Million by 2033, accelerating at a CAGR of 5.6% during the forecast period.
The reusable tumblers market is estimated to experience a positive growth outlook during the forecast period. A new forecast by FMI anticipates that the reusable tumblers sales will rise from 2023 to 2033 and is projected to create an absolute incremental growth opportunity of USD 71.2 Million.
The drastically changing beverages industry amid the pandemic has increased the demand for reusable tumblers. The reusable tumblers market is anticipated to expand 1.7 times the current market value during the forecast period.
The global reusable tumblers market witnessed a CAGR of 3.2% during the historic period with a market value of USD 88.0 Million in 2022 from USD 73.2 Million in 2017.
Consumers, due to their increasing environmental concerns, are preferring reusable tumblers. In addition, the number of excursions and trips is skyrocketing in recent times. Due to their exceptional convenience, high quality, and eco-friendly attributes, the portable and useful reusable tumblers are preferred in outdoor camping, hiking, bicycling, and shopping. When traveling, going on adventures, or participating in sports, reusable tumblers are highly recommended.
Furthermore, on-the-go liquid food ordering is expanding due to hectic lifestyles. Due to their exceptional capacity to keep drinks hot or cold for a longer period of time, reusable tumblers are becoming more and more popular today with the rise of quick-service restaurants and fast-food services in cafes and restaurants.
The market for reusable tumblers will therefore be driven by consumers' shifting preferences and behaviors for the most secure, safe, and environmentally friendly packing solution. The reusable tumblers are developing innovative reusable tumblers; also, the customers can customize the tumbler according to their needs. All these factors will drive the reusable tumblers market.
Nowadays, companies are more focused on sustainable products. Producers are concerned about environmental aspects and demand eco-friendly packaging solutions for their products. The global market is suggesting the trend of green packaging, and all the industries following the market trends are adopting green packaging solutions.
Tumblers as a preferred packaging choice of the beverages industry are also being demanded in reusable form or in eco-friendly form. Despite being a preferred choice, reusability aspects have demanded the most in the selection of tumblers for their product.
Reusable tumbler has a strong customer base which is contributing a lot to the market with demanding reusable customers along with its various other features like safety and protection. The trend adoption by the beverages industry via the market is driving the reusable tumblers market.
Based on the material segment, the metal segment holds the major portion of the global reusable tumblers market. The targeted segment is projected to hold around 55.8% of the market share by the end of 2033. This is due to the enormous benefits obtained from metal material.
Reusable tumblers are mostly manufactured using stainless steel as it helps to maintain the liquid's desired temperature for hours. Stainless steel reusable tumblers are highly durable and are one of the safest and most versatile.
Thus, the benefits such as recyclability, durability, versatility, and convenience will boost the sales of reusable tumblers.
The online sales segment is the most lucrative segment in the sales channel for the global reusable tumblers market. During Covid and post-Covid, there was a phenomenal increase in online shopping.
Due an increase in online orders, will further propel the reusable tumblers market. The online sales segment is projected to expand at a CAGR of 4.8% during the forecast period.
Canada is expected to drive the demand for reusable tumblers is expected to grow the market at the rate of 3.8%. Various countries across the globe actively putting efforts into environment-friendly packaging solutions.
Canada is one of those countries which is strictly into green packaging and following eco-friendly aspects while selecting solutions. The country also contributed to environment-friendly packaging while selecting packaging solutions.According to World Economic Forum, Canada is planning to ban six types of single-use plastics.
The ban by the country will be focusing on six items that are generally found in the environment and are generally not recycled, and those items have alternatives readily available in the market. The following legislative steps by the country are helping the reusable tumblers market.
The preference given to reusable or eco-friendly packaging solutions by the Canadian market is boosting the reusable tumblers market.
The UK is estimated to register a CAGR of nearly 5.1% from 2023 to 2033. According to Food and Drink Federation, in the UK the exports of food and drink exceeded £20 billion and made a major contribution to the economy. Amongst other industries food and drink industry is the UK’s largest manufacturing sector, thus will have a positive impact on the reusable tumblers market.
The key players which are operating in the market are focusing on expansion and innovation. All of them are trying to capture a large market share. Big companies are focusing on USPs to increase sales. Some of the innovations and expansions are as under-
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 5.6% from 2023 to 2033 |
| Base Year for Estimation | 2023 |
| Historical Data | 2015 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Billion, Volume in Units, and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Material, Capacity, Sales Channel, End Users, Region |
| Regions Covered | North America; Latin America; East Asia; South Asia & Pacific; Western Europe; Eastern Europe; Central Asia; Russia & Belarus; Balkan Countries; Baltic Countries; Middle East and Africa (MEA) |
| Key Countries Covered | USA, Canada, Mexico, Brazil, Germany, UK, France, Italy, Spain, Russia, China, Japan, India, GCC countries, Australia |
| Key Companies Profiled | JOCO Group Pty Ltd.; Biome; Tervis; Frank Green; Klean Kanteen; Zhejiang Jupeng Drinkware Co., Ltd.; Hydro Flask; KingStar Industries Co., Ltd; Tupperware Brands Corporation; Ohelo; Cuppe |
| Customization & Pricing | Available upon Request |
In 2022, the value of the global reusable tumblers market was USD 88.0 million.
During the forecast period, the global reusable tumblers market is anticipated to expand at a CAGR of 5.6%.
The global reusable tumblers market is expected to reach USD 159.2 million by the end of 2033.
During the forecast period, metal material is likely to be the fastest-growing material segment in the global reusable tumblers market.
Tupperware Brands Corporation, Cuppé, Ohelo, Klean Kanteen, Frank Green, Tervis, Biome, JOCO Group Pty Ltd., are the top players supplementing the sales of reusable tumblers.
As per the FMI analysis, the Indian reusable tumblers market is projected to expand at a CAGR of 6.1% during 2023 to 2032.
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Reusable Tumblers Market
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