Companies in the Insulated Drinkware Market are facing issues in keeping their production facilities fully functional due to shortage of staff and resources amidst the COVID-19 (Coronavirus) outbreak. Get a hands-on over key drivers and threats to the Insulated Drinkware Market to make your company future-ready post the pandemic. Avails out reports for exciting prices to learn new opportunities that companies can capitalize on during and after the Coronavirus crisis.
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With a significant increase in the demand for insulated drinkware, key players have begun to outsource their manufacturing processes. Several large multinationals have been following a mix of in-house manufacturing and strategic outsourcing. This strategic shift find its roots in the demand-supply gap that was being witnessed in the past half-decade.
The number of insulated drinkware products has mushroomed on online stores in the recent past. While this has enabled consumers to have a broader choice, new entrants have found it as a potent platform to showcase their products against established brands. While the total available market for insulated drinkware stands at a US$2.5 Bn opportunity by 2029, under good conditions Fact.MR projects it at slightly above US$ 1 Bn.
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Insulated Drinkware Market: Segmentation
FactMR’s study has done the segmentation of the insulated drinkware market on the basis of product, body type, capacity, and sales channel, across seven regions.
- Water Bottles
- Stainless Steel
- Plastic Insulated
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Cutting Edge Evolutions in Insulated Drinkware to Bolster the Demand
Global insulated drinkware market’s top five players accounted for around 15% share of the global insulated drinkware market in 2018.
- In the last half-decade, the insulated drinkware market has evolved from its limitation of providing insulation to a multipurpose utility product. For instance, Ozzy has recently launched a Bluetooth speaker enabled insulated bottle to lure millennials and tech savvy customers. Some other launches include insulated drinkware packaged with accessories; for instance, in 2019, Avana Corporation has launched built-in straw insulated bottle while Mizu Life launched filter enabled sipper insulated bottles during mid-2019.
- Manufacturers are focusing on double wall insulation for stainless steel insulated drinkware with silicon dioxide coating that prevents bad odor.
- Market players such as Yeti, and Dopper have introduced insulated steel drinkware with innovative functionalities such as lead filter based insulated drinkware, insulated drinkware with bicycle holder, and drinkware with magnetic leads.
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