People are becoming more conscious about the environment and then prefer reusable mugs. This mug can be reused after washing, which will help with both non-degradable and degradable waste. Many manufacturers are designing and innovating products to make them long-lasting and more appealing. Many brands sell their products online and offer discounts and promotions. Several private companies have partnerships with e-commerce companies to sell their products online.
Data Bridge Market Research shows that the Mug Market accounted for USD 21.39 billion in 2021, expected to reach USD 44.21 billion by 2029. The market is expected to grow with a CAGR of 9.50% from 2022 to 2029.
"Rising demand for the insulated mug is expected to drive the market growth"
Increasing demand for the insulated mug is expected to drive the growth of the mug market during the forecast period of 2022 to 2029. Insulated mugs are good for cold and hot drinks, making them possibly the most versatile option for consumers. These mugs are generally tightly fitted or sealed to keep heat from escaping. That tight seal means consumers normally won't have to worry about drink spills. That makes them the perfect option for consumers to carry on the go. As a result of all these factors, the demand for insulated mugs increases, eventually enhancing market growth.
What restraints the growth of the mug market?
"Drawbacks associated with some mugs"
Some drawbacks of mugs may affect their popularity among consumers. Some stainless steel mugs can taste metallic, mainly after the first few uses. Stainless steel also absorbs liquid particles, which may leave a lingering taste in a bottle and transfer to another liquid. Some manufacturers use BPA in plastic mugs during production, which can lead to cancer and other health issues. Hence, these factors are expected to hamper the growth of the mug market during the forecast period of 2022 to 2029.
Segmentation: Global Mug Market
The mug market is segmented on the basis of type, distribution channel, end-use, capacity, and application.
- On the basis of type, the global mug market is segmented into strengthened glass, true porcelain, vitreous enamel, stainless steel, plastic, others.
- On the basis of application, the global mug market is segmented into shaving mug, tiki mug, travel mug, thermochromics mug, puzzle mug, amusement mug, others.
- On the basis of distribution channel, the global mug market is segmented into online, offline.
- On the basis of end use, the global mug market is segmented into household, office, commuter, sport, others.
- On the basis of capacity, the global mug market is segmented into capacity (399 ml, 400-749 ml, more than 750 ml.
Regional Insights: North America is expected to dominate the mug market
North America is expected to dominate the market and is expected to grow significantly because of increasing consumer purchasing power in this region. Moreover, rapid growth in the hospitality industry and increasing adoption of western culture in this region will further support the growth of the mug market.
In addition, the Asia-Pacific region is likely to register the highest growth rate during the forecast period of 2022 to 2029 due to the increasing demand for mug from emerging economies. Furthermore, this region's improved lifestyles and rising disposable income will positively influence market growth.
Recent Developments: Global Mug Market
- In 2020, Pasabahce introduced a new range of products, including Napa goblets, at the Ambiente houseware fair in Messe Frankfurt. This product launch includes the Veneto collection of five different glassware, Elysia collection, Highness, Miss Tea glasses, and Estrella, Timeless, and Amber collections. This new product launch would enable the company to increase its already existing product portfolio of drinkware products.
- In 2020, Steelite International acquired William Edwards Limited, a company that produces fine bone china tableware collections. With this strategic acquisition, this company will expand its existing product offerings and strengthen its position in the global market.
To know more about the study, visit, https://www.databridgemarketresearch.com/reports/global-mug-market
The Prominent Key Players Operating in the Mug Market Include:
- Caribou Coffee Company (U.S.)
- De'Longhi Appliances S.r.l. (Italy)
- Epoca International, Inc. (U.S.)
- Hamilton Housewares Pvt. Ltd (U.S.)
- HANOWA and SWISS MILITARY (Switzerland)
- Ignite USA, LLC (U.S.)
- Keurig Dr Pepper, (France)
- SharkNinja Operating LLC (India)
- Thermos L.L.C. (U.S.)
- Zojirushi America Corporation (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list mug market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Mug Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Mug and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
