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Thermos Bottle Market Size, Share & COVID-19 Impact Analysis, By Material (Stainless Steel, Plastic, Glass, and Others), Application (Household and Commercial), and Regional Forecast, 2021-2028

Region : Global | Format: PDF | Report ID: FBI104435

 

KEY MARKET INSIGHTS

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The global thermos bottle market size was USD 4.67 billion in 2020. The market is projected to grow from USD 4.75 billion in 2021 to USD 6.50 billion in 2028 at a CAGR of 4.60% in the 2021-2028 period. The global impact of COVID-19 has been staggering and unprecedented, with thermos bottle witnessing a negative impact on demand across all regions amid the pandemic. Based on our analysis, the global market exhibited a lower growth rate of 2.34% in 2020 as compared to the average year-on-year growth during 2017-2019. The rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.


Individuals essentially use thermos cups and thermos bottles to keep themselves hydrated. Such products are ideal for storing & preserving ready-to-drink (RTD) liquids. Such products are widely available in different sizes and colors in the market. The vacuum layer plays an essential role in maintaining the liquids’ temperature level inside the insulated bottles. Nowadays, companies offer innovative bottles to enable users to preserve their drinks for longer. For instance, in August 2020, Xiaomi Corporation introduced Mijia Bullet Thermos Flask, a thermos water bottle containing a laser welding technology-based vacuum layer inside it. Such a product has 12 hours of cold/heat preservation and 500 ml of capacity.


COVID-19 IMPACT


Departmental Store Closures Amid COVID-19 Lockdown Restrictions to Negatively Impact Market


Shutting down of departmental stores and supermarkets due to the COVID-19 related lockdown restrictions in many countries worldwide hampered the product sales from these stores. Additionally, the closure of the companies’ thermos bottle manufacturing sites due to such restrictions has significantly impacted the thermos bottle market growth during the pandemic. Besides, during the pandemic, evolving work-from-home & homeschooling trends and arising social distancing norms & travel restrictions are the factors negatively impacting the consumer demand for the water bottles.


As per the research study conducted by the New England Journal of Medicine (NEJM), in April 2020, SARS COV-2 can last up to 72 hours on plastic & stainless steel surfaces. Hence, conscious consumers prefer glass or cardboard material-based bottles over single-use plastic-based bottles to avoid coronavirus infection from plastic surfaces. This will offer newer industry growth opportunities during the pandemic. 


LATEST TRENDS


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Companies Focus on Sustainable Material-based Thermos Bottles to Amplify Market Growth


Nowadays, companies offer sustainable and recycled material-based bottles to avoid environmental degradation and CO2 emissions due to plastic-based flasks. This will open newer avenues for the global industry growth. For instance, in June 2021, Nestle S.A. launched recycled plastic material-based thermos water bottles in the U.S. Additionally, shifting sportsman consumer preference toward innovative sporting goods, including backpacks, wears, hydration performance tracking thermos type of water bottles, and others are offering newer opportunities for the companies to grow their business. Besides, increasing consumers’ inclination toward high-end lifestyle products fuels the vacuum flask market growth.


DRIVING FACTORS


Companies Introduce Innovative Thermos Bottle Products to Drive Market


Nowadays, key players are regularly introducing innovative technology-based bottle products to attract consumers to buy such products, which will drive the market growth. For instance, in February 2021, Thermos LLC, in partnership with the greeting card and stationery designer Rachel Ellen, launched a line of innovative, insulated thermos water bottles, food containers, and lunch bags.


Additionally, companies’ regular introduction of water bottle-related market campaigns will support the consumption rate of such products. For instance, in May 2021, Ocean Bottle, a sustainable water bottle maker, launched the NFC smart chip impact platform with the GAIL Bakery to promote its brand and contribute toward environmental sustainability.


Increased Spending from Consumers Toward Sports and Leisure to Support Market


Increasing consumer spending on sports and outdoor leisure products such as backpacks, thermos water bottles, shoes, wearables, and others will ease the companies’ sales revenues from such products, thereby accelerating the market growth. According to the data presented by the Sports Event and Tourism Association (Sports ETA), in 2019, U.S. spending on sports-related traveling reached USD 45.1 billion, 2% up over the previous year.


Nowadays, people suffer from excess sweating, vomiting, and other dehydration-related issues due to their limited water intake habits. As per the ‘National Health and Nutrition Examination survey presented by the Agency for Healthcare Research and Quality (AHRQ), in February 2019, 40% of the community-dwelling older adults in Arizona, U.S. were under-dehydrated. Therefore, growing awareness regarding individuals' health and well-being further supports the product demand worldwide.


RESTRAINING FACTORS


Easier Consumers’ Accessibility to Cheaper Alternatives to Limit Product Demand


Wide availability and easier consumers’ accessibility to the cheaper bottle products will impact the key companies’ product revenues. Additionally, the incidences of liquid contamination due to using stainless steel-based thermos water bottles for a longer duration limit product demand. Besides, huge competition from the local industry players is hampering future market development.


SEGMENTATION


By Material Analysis


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Higher Durability and Strength led Stainless Steel Segment to Hold Significant Market Share


The global thermos bottle market analysis can be carried out based on various product design materials such as stainless steel, plastic, glass, and others.


The global stainless steel segment holds a major market share owing to the tensile strength of the stainless steel material, which provides longer life to such bottles. Additionally, the higher insulation capacity of stainless steel material-based bottles results in the stainless steel segment generating significant product revenues.


The others segment includes various material types such as clay, copper, bamboo, and cardboard. The others segment will grow considerably for the global market due to the growing consumer awareness regarding plant, recycled plastic, and other sustainable material-based bottle products. Furthermore, increasing consumer demand for clay-based cookery and other kitchenware products will fuel a higher segment revenue.


The plastic segment is mainly driven by the cost-effectiveness of plastic-based water bottles over other material types. The wide availability of glass bottles of different shapes and sizes is mainly supporting the glass segment growth.


By Application Analysis


Significant School Students Demand for Thermos Bottles Make Commercial Segment to Lead Market


The global thermos flask market is segregated into household and commercial based on application.


The commercial segment holds a major market share due to significant demand from students and working professionals for these bottles. Additionally, increasing consumer inclination toward outdoor activities such as hiking, cycling, and running supports the product demand, thereby driving the commercial segment growth. Growing residential infrastructural settings and changing consumer lifestyles are the factors that mainly accelerate the residential segment's product demand. Furthermore, growing video gaming, cooking, and other indoor leisure trends among the global population further support residential type application segmental growth.


REGIONAL INSIGHTS


North America Thermos Bottle Market Size, 2020 (USD Billion)

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The global market is segregated into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.  


The North America market size reached USD 1.69 billion in 2020. People commonly use thermos flasks & bottles to store ready-to-drink (RTD) fruit juices, coffee, tea, and milk products. North America holds a major global market share due to the significant U.S. and Canadian consumer demand for ready-to-drink liquid products to fulfill their regular drinking needs. According to the data presented by the Beverage Marketing Association, in 2020, ready-to-drink tea consumption reached 5 gallons per American. Furthermore, growing indoor & outdoor leisure trends among the regions’ population further drive the North American market growth.


Asia Pacific will grow faster in the global market due to rising residential and commercial infrastructural settings in China and India. As per the estimated data published by the Government of India (GoI) and Reserve Bank of India (RBI), in the fourth quarter of 2020, housing sales in India’s top seven metro cities jumped by 73% over the previous quarter period. Besides, the robust presence of prominent thermos water bottle manufacturers such as Panasonic Corporation, Nanlong Group, Tiger Corporation, and others further supports the region’s consumption rate.  


Shifting consumer preference of Germany and the U.K. toward using recycled plastic, bamboo, and other sustainable material-based thermos water bottles fuels the Europe market growth. Increasing consumer awareness regarding the availability of such products is mainly supporting the market growth in South America.


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Rising middle-income population groups and their spending on travel and other outdoor activities primarily surge the product demand among the Middle East & Africa population. 


KEY INDUSTRY PLAYERS


Partnership and Business Expansion are Key Strategies Fueling Market


Nowadays, companies focus on offering sustainably made bottle products to contribute toward environmental sustainability. Additionally, they introduce various promotional campaigns to promote their products worldwide. For instance, STANLEY is a brand of PMI, a thermos flask, cup, and bottle products manufacturer in partnership with the ad agency Hanson Dodge launched a TV-led advertisement centered on celebrating its background of classical and professionally made bottles.  


LIST OF KEY COMPANIES PROFILED:



  • Thermos LLC (Illinois, U.S.)

  • Hamilton Housewares Pvt. Ltd (Maharashtra, India)

  • Anhui Fuguang Life Technology Co. Ltd. (Guizhou, China)

  • Zhejiang Haers Vacuum Container Co Ltd (Hangzhou, China)

  • Nanlong Group Co. Ltd. (Zhejiang, China)

  • ISOSTEEL Deutschland GmbH (Wiesbaden, Germany)

  • Midea Group (Foshan, China)

  • Panasonic Corporation (Osaka, Japan)

  • Laken Productos Deportivos S.A. (Murcia, Spain)

  • EMSA (Emsdetten, Germany)


KEY INDUSTRY DEVELOPMENTS:



  • November 2020: Thermos LLC. Lifefactory launched a wide neck vacuum insulated stainless steel baby bottle in the U.S. market.

  • January 2020 – Hydro Flask, Helel of Troy Inc. owned water bottle brand, unveiled a new lineup of food storage containers and reusable thermos water bottles at the Outdoor Retailer Snow Show.


REPORT COVERAGE


An Infographic Representation of Thermos Bottle Market

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The global thermos bottle market research report analyzes the market in-depth and highlights crucial aspects of prominent companies, material types, and application areas. Besides this, the market provides insights into the industry trends and highlights significant industry developments. In addition to the various aspects mentioned earlier, the report encompasses several factors contributing to the market growth in recent years.


Report Scope & Segmentation














































ATTRIBUTE



  DETAILS



Study Period



2017-2028



Base Year



2020



Estimated Year



2021



Forecast Period



2021-2028



Historical Period



2017-2019



Unit



Value (USD billion)



By Material




  • Stainless Steel

  • Plastic

  • Glass

  • Others



By Application




  • Household

  • Commercial



By Region



North America (By Material, Application, and Country)



  • U.S. (By Material)

  • Canada (By Material)

  • Mexico (By Material)


Europe (By Material, Application, and Country)



  • Germany (By Material)

  • France (By Material)

  • Italy (By Material)

  • Spain (By Material)

  • U.K. (By Material)

  • Rest of Europe (By Material)


Asia Pacific (By Material, Application, and Country)



  • China (By Material)

  • India (By Material

  • Japan (By Material)

  • Australia (By Material

  • Rest of Asia Pacific (By Material)


South America (By Material, Application, and Country)



  • Brazil (By Material)

  • Argentina (By Material)

  • Rest of South America (By Material)


Middle East and Africa (By Material, Application, and Country)



  • UAE (By Material)

  • South Africa (By Material)

  • Rest of Middle East & Africa (By Material)



Frequently Asked Questions

Fortune Business Insights says that the global market size was USD 4.67 billion in 2020 and is anticipated to reach USD 6.50 billion by 2028.

In 2020, the global market value stood at USD 4.67 billion.

Rising at a CAGR of 4.60%, the global market will exhibit steady growth over the forecast period (2021-2028).

The stainless steel segment is expected to be the leading material type in this market during the forecast period (2021-2028).

Regular introduction of innovative bottle products by key companies is a crucial market driver responsible for the market growth.

Thermos LLC, Eternal, and Nanlong Group are the leading companies.

North America dominated the global market in 2020.

The growing popularity of eco-friendly thermos water bottle products will accelerate the market growth.

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Thermos Bottle Market Size, Share and Global Industry Trend Forecast till 2026
  • Apr, 2022
  • 2020
  • 2017-2019
  • 165

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