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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.
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.
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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.
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.
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.
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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.
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.
North America Thermos Bottle Market Size, 2022 (USD Billion)
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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.
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.
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.
CAGR of 4.98% from 2023 to 2030
Value (USD Billion)
North America (By Material, Application, and by Country)
Europe (By Material, Application, and by Country)
Asia Pacific (By Material, Application, and by Country)
South America (By Material, Application, and by Country)
Middle East and Africa (By Material, Application, and by Country)
Fortune Business Insights says that the worldwide market size was USD 4.93 billion in 2022 and is anticipated to reach USD 7.22 billion by 2030.
In 2022, the worldwide market value stood at USD 4.93 billion.
Rising at a CAGR of 4.98%, the global market will exhibit steady growth in the forecast period (2023-2030).
The stainless steel segment is expected to be the leading material type in this market during the forecast period (2023-2030).
Regular introduction of innovative bottle products by key companies is a crucial market driver responsible for the market’s growth.
Thermos LLC, Eternal, and Nanlong Group are leading companies worldwide.
The North American region to dominate the worldwide market in 2022.
The growing popularity of eco-friendly thermos water bottle products will accelerate the market growth.
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