Tumblers Market is estimated to be over US$ 732.9 Mn in 2018, and is projected to increase at a CAGR of 5.8% during forecast period
Albany, NY -- (SBWIRE) -- 05/16/2018 -- According to the latest market report published by Transparency Market Research titled "Tumblers Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2018–2026," steel tumblers segment is anticipated to be the highest contributor to the global tumblers market revenues, over the forecast period, 2018-2026. Globally, the revenue generated from sales of steel tumblers has been estimated to be over US$ 732.9 Mn in 2018, and is projected to increase at a CAGR of 5.8% during forecast period.
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Growing demand for customization and on-the-go drinkware helps in the growth of the tumblers market. Tumblers reduce the possibility of spillage and have various advantages over conventional cups. Consumers are moving towards convenient products with the changing lifestyle. Manufacturers come up with various innovations in tumblers such as vacuum tumblers with double wall which allows consumers to keep their beverage hot or cold for an extended period of time.
The global push for making the shift towards reusable products and packaging solutions has led to an increasing preference for tumblers and related products. On the basis of product type, steel tumblers segment accounts for the largest market share of tumblers market due to growth in the technological advancements to overcome the existing challenges. On the basis of capacity of tumblers, 12 to 20 oz capacity segment is expected to dominate the market during the forecast period. On the basis of sales channel, convenience stores dominates the market of global tumblers market.
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APAC region is estimated to account for the largest share in tumblers market due to change in lifestyle and consumer preferences in this region. The MEA region is estimated to contribute less but have a rapidly growing market share in tumblers market. Growth in tumblers market in Latin America region is expected to be moderate during the forecast period.
The market players that have been profiled include - Tupperware Brands Corporation, Pelican Products, Inc., CamelBak Products, LLC, Can't Live Without It, LLC (S'well Bottle), Thermos, LLC, Evans Manufacturing, Inc., Hydro Flask, Ee-Lian Enterprise (M) Sdn. Bhd., Cool Gear International, LLC, Klean Kanteen, Inc., Yeti Coolers, LLC, O2COOL, LLC, Bubba Brands, Inc., and Lock&Lock Co., Ltd.