Thermos Bottle Market: Global Industry Analysis and Forecast (2023-2029)

Thermos Bottle Market was valued at US$ 5.14 Bn. in 2022. Global Thermos Bottle Market size is expected to grow at a CAGR of 4.93 % through the forecast period.
Thermos Bottle Market Overview:
Sir James Dewar initially designed the thermos in 1892, utilizing highly compressed gases to keep heat within the bottles. These Thermos Bottles are used in households and businesses for a variety of purposes, including storing cold beverages and keeping meals warm at a suitable temperature for transportation. As new designs are being produced every day, demand of innovation in these products is increased.

Nowadays, people essentially keep themselves hydrated using thermos cups and thermos bottles. These items are perfect for storing and preserving ready-to-drink liquids (RTD). These items are available in large quantities in a variety of sizes and colors. The vacuum layer is critical for maintaining the temperature of the liquids inside the insulated bottles. Companies are providing innovative bottles that allow users to keep their drinks fresher for longer.To know about the Research Methodology :- Request Free Sample Report
Thermos Bottle Market Dynamics:
Market Drivers:

Launch of New Thermos Bottle Products: Nowadays, leading companies are offering novel technology-based bottle items regularly to attract customers to purchase them, hence driving the market growth. For example, in February 2022, Thermos LLC debuted a collection of unique, insulated thermos bottles, food containers, and lunch packs in collaboration with greeting card and stationery designer Rachel Ellen.

The continuous development of water bottle-related market campaigns by corporations will help to increase the rate of use of such items. For example, in May 2022, Ocean Bottle, a sustainable water bottle manufacturer, partnered with GAIL Bakery to develop the NFC smart chip impact platform to promote its brand and contribute to environmental sustainability.

Consumers' increased spending on sports and leisure products: Increased consumer purchasing of sports and outdoor leisure products including backpacks, thermos water bottles, and other items will help enterprises increase their sales revenues, increasing market growth. Due to their restricted water intake habits, individuals now suffer from excessive sweating, nausea, and other dehydration-related disorders. Awareness of people's health and well-being helps to drive product demand across the world.

Market Restraints:
Consumers’ increased access to less expensive alternatives: The product of sales key manufacturers will be impacted by the widespread availability and easier customer access to cheaper bottle products. The risk of liquid contamination from utilizing stainless steel thermos water bottles for extended periods limits product demand. Intense rivalry from local industry competitors is impeding the future market growth.

Market Opportunities:

Increased focus on Sustainable Material based Thermos Bottles: To reduce environmental damage and CO2 emissions caused by plastic-based flasks, manufacturers now provide sustainable and recyclable material-based bottles. This will provide new opportunities for market growth.
Impact of COVID-19 on Thermos Bottle Market:
The closure of department stores and supermarkets in many countries across the world as a result of COVID-19-related lockdown regulations hindered thermos bottle sales. The pandemic has had a massive effect on the thermos bottle market growth due to the closure of companies' thermos bottle production plants due to such restrictions. During the pandemic, changing work-from-home and home-schooling trends, as well as emerging social distancing norms and travel restrictions, are reducing consumer demand for thermos bottles. Thermos LLC Life factory introduced a broad neck vacuum insulated stainless steel baby bottle in the United States in November 2022. At the Outdoor Retailer Snow Show in January 2022, Hydro Flask, a Helel of Troy Inc. water bottle brand, introduced a new collection of food storage containers and reusable thermos water bottles.
Thermos Bottle Market Segment Analysis:
Based on Type, The Stainless Steel segment dominated the Thermos Bottle market with a 44% market in 2022. Due to the tensile strength of stainless steel, which gives longer life to these bottles, the stainless-steel segment dominated the market with a significant market share. The stainless-steel category generates significant product sales because of the better insulating capability of stainless-steel material-based bottles. Due to increased consumer awareness of plant, recycled plastic, as well as other sustainable materials-based bottle products, the others sector will rise significantly.

Plastic-based water bottles are cost-effective among alternative materials which are driving factor for the plastic sector. The glass segment's growth is primarily supported by the extensive availability of glass bottles in various forms and sizes.

Based on the Application, Due to high demand from students and working professionals, the commercial segment has a considerable market share. Rising consumer interest in outside activities like hiking, cycling, and running promotes product demand, resulting in commercial segment growth. Growing residential infrastructure and changing consumer lifestyles are the primary drivers of product demand in the residential segment. The globally population's increased interest in video gaming, cooking, and other indoor leisure activities support residential application sector development.
Regional Insights:
The North America region dominated the market with a 35 % share in 2022. Thermos flasks and bottles are often used to keep ready-to-drink (RTD) fruit juices, coffee, tea, and milk products. Because of the high demand for ready-to-drink liquid products in the United States and Canada, as a result, North America owns a large share of the market. Rising indoor and outdoor leisure activities among the population in this region are driving market growth in North America.

The Asia Pacific region is expected to witness significant growth at a CAGR of 4.37% through the forecast period. Due to increasing residential and commercial infrastructure setups in China and India, Asia Pacific will grow rapidly in the Thermos Bottle market.

The Thermos Bottle market in Europe region is growing due to a shift in consumer preference in Germany and the United Kingdom toward thermos water bottles made of recycled plastic, bamboo, and other sustainable materials. Increased consumer knowledge of such items' availability is primarily driving market growth in South America. The growth of the market in the Middle East and Africa is mostly driven by rising middle-income demographic groups and their expenditure on traveling and other outdoor activities.

The objective of the report is to present a comprehensive analysis of the global Thermos Bottle Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Thermos Bottle Market dynamic, structure by analyzing the market segments and projecting the Thermos Bottle Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Thermos Bottle Market make the report investor’s guide.
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Thermos Bottle Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 5.14 Bn.


Forecast Period 2023 to 2029 CAGR:
4.93%
Market Size in 2029:
US $ 7.20Bn.


 Segments Covered:
by Type
Stainless Steel
Plastic
Glass
Others


by Application
Commercial
Household



Thermos Bottle Market by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest)
Key Players are:
1.Thermos LLC
2.Eternal
3.Fulkwong
4.Milton
5.Nan Long Group
6.LOCK&LOCK
7.CamelBak
8.Anhui Fuguang Life Technology Co. Ltd.
9.Zhejiang Haers Vacuum Container Co Ltd
10.ISOSTEEL Deutschland
11.Midea Group
12.Panasonic Corporation
13.EMSA

Frequently Asked Questions:

1] What segments are covered in the Global Thermos Bottle Market report?
Ans. The segments covered in the Thermos Bottle Market report are based on Type and Application.

2] Which region is expected to hold the highest share in the Global Thermos Bottle Market?
Ans. The North America region is expected to hold the highest share in the Thermos Bottle Market.

3] What is the market size of the Global Thermos Bottle Market by 2029?
Ans. The market size of the Thermos Bottle Market by 2029 is expected to reach US$ 7.20 Bn.

4] What is the forecast period for the Global Thermos Bottle Market?
Ans. The forecast period for the Thermos Bottle Market is 2023-2029.

5] What was the market size of the Global Thermos Bottle Market in 2022?
Ans. The market size of the Thermos Bottle Market in 2022 was valued at US$ 5.14 Bn.