Thermos Bottle Market Size, Share & COVID-19 Impact Analysis, By Material (Stainless Steel, Plastic, Glass, and Others), By Application (Household and Commercial), and By Regional Forecast, 2023-2030

The global thermos bottle market size was valued at USD 4.93 billion in 2022 and is projected to grow from USD 5.14 billion in 2023 to USD 7.22 billion by 2030, exhibiting a CAGR of 4.98% during the forecast period.

Individuals essentially use thermos bottles and cups 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 thermos water bottles. Nowadays, companies offer innovative bottles to enable users to preserve their drinks longer. For instance, in August 2020, Xiaomi Corporation introduced Mijia Bullet Thermos Flask, a thermos water bottle product containing a laser welding technology-based vacuum layer inside it. Such a product has 12 hours of cold/heat preservation and a 500 ml capacity.

COVID-19 IMPACT

 Stay-At-Home Trend Amid COVID-19 Lockdown Restrictions Impacted the Market

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

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

LATEST TRENDS

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Consumer Focus on Sustainable Material-based Thermos 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 to global industry growth. For instance, in June 2021, Nestle S.A. launched recycled plastic material-based thermos water bottles in the United States. Additionally, shifting sportsman consumer preference towards innovative sporting goods, including backpacks, wears, hydration performance tracking water bottles, and others, are offering newer opportunities for the companies to grow their business. Besides, increasing consumers’ inclination towards high-end lifestyle products fuels market growth.

DRIVING FACTORS

Companies Introduce Innovative Thermos Bottle Products to Drive Market

Nowadays, key players are regularly introducing bottles featuring innovative technologies to attract consumers to buy such products. This will drive market growth. For instance, in February 2021, Thermos LLC launched a line of innovative, insulated thermos water bottles, food containers, and launch 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 launched a new NFC smart chip-based platform aimed at promoting its brand while maximizing environmental sustainability.

Increased Spending from Consumers Towards Sports and Leisure to Support Market

Increasing consumer spending on sports and outdoor leisure products such as backpacks, thermos bottles, water bottles, shoes, wearables, and others will ease the companies’ sales revenues from such products, thereby accelerating 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 from the previous year.

Nowadays, people lack urination, 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, a U.S. state, were under-dehydrated condition. Therefore, growing awareness regarding individuals' health and well-being further supports the product demand globally.

RESTRAINING FACTORS

Easier Consumers’ Accessibility to the Cheaper Alternatives to Limit the Product Demand

Wide availability and easier consumer accessibility to 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 market is segregated into stainless steel, plastic, glass, and others. The 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 the 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, and bamboo, cardboard. The Others segment will grow considerably in 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 segmental revenues.

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 mainly supports the glass segment growth.

By Application Analysis

Commercial Segment to Hold a Leading Market Position

The global thermos bottle market analysis is segregated into household and commercial.

The commercial segment holds a major market share due to the significant demand from students and working professionals for thermos bottles. Additionally, increasing consumer inclination towards outdoor activities such as hiking, cycling, and running supports the thermos bottle demand, thereby driving commercial segmental growth. Changing lifestyles of consumers are the factors that mainly accelerate the residential segment's product demand. Furthermore, growing cooking, video gaming, and other indoor activities augment the growth of residential segment.

REGIONAL ANALYSIS

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

The North America market size reached USD 1.76 billion in 2022. People commonly use thermos flasks & bottles to store coffee, RTD fruit juices, milk products, and tea. North America holds a major market share due to the significant consumer demand from the U.S. and Canada for RTD liquid products to meet 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 region’s population further drive the North America thermos bottle industry.

Asia Pacific will grow faster for the thermos water bottle market due to the rise in 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.  

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Shifting German and the U.K. consumer preference towards using recycled plastic, bamboo, and other sustainable material-based thermos water bottles is fueling the European market growth. Increasing consumer awareness regarding the availability of such products is mainly supporting the South America thermos bottle market growth. Rising middle-income population groups and spending on travel and other outdoor activities primarily drive the product demand among the Middle East & African population. 

KEY INDUSTRY PLAYERS

Partnership and Business Expansion are the Key Strategies Fueling the Market

Nowadays, companies focus on offering sustainably made bottle products to contribute towards environmental sustainability. Additionally, they introduce various promotional campaigns to promote their products globally. 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 (U.S.)


• Nanlong Group Co. Ltd. (China)


• Eternal (U.S.)


• Anhui Fugaung Life Technology Co. Ltd. (China)


• ZHE JIANG HAERS VACUUM CONTAINERS Co. Ltd. (China)


• ISOSTEEL Deutschland GmbH (Germany)


• Midea Group (China)


• Panasonic Corporation (Japan)


• Laken Productos Deportivos S.A. (Spain)


• EMSA (Germany)

KEY INDUSTRY DEVELOPMENTS:

• January 2023 - Xiaomi has introduced a new product named MIJIA Thermos Flask. This thermos has a large 1.8-liter capacity and is priced at USD 19. The new product launch is designed for long-term cold storage and heat preservation.


• June 2022 - O2C Brands has announced the acquisition of two new brands U-Konserve and EcoVessel. The Ecovessel brand markets premium insulated mugs, stainless steel water bottles, tumblers, and others. The acquisition will help the company in increasing the product line and revenue of the company.


• May 2021 – Helen of Troy Limited, which manufactures thermos bottles, is expanding its presence in Latin America. The expansion will help the company increase its customer reach and product sales.


• 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 report provides insights into the industry trends, competitive landscape and highlights significant industry developments. In addition to the various aspects mentioned earlier, the sample report encompasses several factors contributing to the market's growth over recent years.

Report Scope & Segmentation