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Research of Thermos Drinkware Industry: Has Prosperous Prospect and Excellent Growth Potential

Research of Thermos Drinkware Industry: Has Prosperous Prospect and Excellent Growth Potential

Stainless steel thermoses have the characteristics of heat preservation, safety, health, durability and portability. They are made of double stainless steel inside and outside. To achieve the effect of vacuum insulation, the inner and outer shells are johned by welding technology, and the air in the interlayer between the tank and exterior is extracted by vacuum technology. Compared with traditional glass, ceramic and other thermal insulation containers, stainless steel has the advantages of good thermal insulation performance, safety and portability, health and hygiene. They are also safer, more environmentally protective and durable in the contrast to plastic drinkware,

However, the output of stainless steel in China ranks first in the world, possessing a sufficient supply of raw materials. The proportion of China's stainless steel output in the world has increased from 12.9% in 2005 to 56% in 2021. In 2021, the output of crude stainless steel in China was 30.632 million tons, which is 1.64% year-on-year. Meanwhile, the CAGR of crude stainless steel output in 2014-2021 is 5.1%. The leading stainless steel production provides sufficient raw materials for the thermos drinkware industry.

Thanks to the outbreak of outdoor leisure activities, changes in living and consumption habits, and other factors, the application range of stainless steel thermos wares is more extensive, and the demand is increasing. According to the cup and pot branch of China Daily Necessities Industry Association, the global market scale of stainless steel thermos cups was about 6.83 billion US dollars in 2020, with a year-on-year increase of 8.8%. And The market scale of thermos cups in 12-20 years was 14.1%.

From the Supply Side: China is a global manufacturing center with a scattered supply pattern, and the leading growth rate is higher than that of the industry

China is a huge hub of the global production of thermos products, contributing more than 60% of the production. In 2018, the main consumption markets of stainless steel thermos wares in the world were mainly in Europe and the United States, China, and Japan, with Europe accounting for the highest proportion, accounting for 26.99%. China's market, meanwhile, claimed 18.42% of consumption, yet it provides 65% of the world's stainless steel thermos cup production. The output of thermal insulated drinkware in China reached 653 million in 2021, with an increase of 10.5%. The CAGR of production in 2017-2021 was 10%. It is estimated that the annual output of heat preservation cups in China will reach 891 million by 2027.


China's export volume CAGR of stainless steel vacuum insulation vessels in the recent five years is 22.1%; The export amount CAGR is 26.6%. According to the General Administration of Customs, the export volume of China's metal vacuum insulation vessels in 2021 was 107,100 tons, up by 29.66% compared with the same period of last year. The export value was 1.108 billion yuan, up by 40.72% year-on-year; From 2017 to 2021, the export value CAGR was 26.6%, and from January to May 2022, the accumulated export value was USD 578 million, up by 52.6% year-on-year. The export boom continued.

From the Demand side: Marketspace widen due to the rise of outdoor leisure, the extension and development of application scenarios, and the prominent consumption attributes of thermos cups

With the improvement of people's living standards and the change in living habits, people are no longer satisfied with the single functions of stainless steel vacuum insulation vessels such as heat preservation, insurance and portability, but have more pursuits in terms of aesthetics, intelligence, energy conservation and environmental protection. Therefore, the development of stainless steel thermos cups is still considerable.

(1) As outdoor leisure activities thrive all over the world, thermos products result in a large order volume due to their appearance and functionality, benefiting from the increase in short-distance travel and outdoor sports. In the meantime, with the repeated epidemic around the world, outdoor leisure activities with multiple attributes of sports, tourism, leisure and social interaction are favored by people. According to China Economic Research Institute, the global outdoor products industry is growing steadily. In 2020, the revenue was nearly 105 million yuan, up by 28.3% year-on-year. It is estimated that the CAGR will reach 6.86% in 2021-2025.


(2 ) With the continuous improvement of consumers' consumption level and concept, thermos cups are gradually endowed with the features of fashionable appearance, multi-functioning, intelligent technology, energy saving and environmental protection based on the original features of good thermal insulation performance, safety and portability, etc., from basic drinking utensils to healthy living necessities that are suitable for different life scenes, show consumers' individual needs, meet health quality and fashion trends, and are increasingly diversified, humanized and intelligent in design with fashionable and exquisite appearance. At present, thermal insulation products in developed countries such as Europe and America have the characteristics of FMCG to a certain extent, with a high frequency of consumption and replacement, and constantly refined demand, and there are many scene applications such as vehicle-mounted, outdoor cycling, urban business and so on.

(3) There is still room for improvement in the penetration rate of insulating drinkware in developing countries, including China. In recent years, the demand growth rate of thermos in China was higher than that in the world. According to the statistics of Zhiyan Consulting, the market scale of thermos in China reached 18.697 billion yuan in 2020, up by 9.9% year-on-year, among which the market size of stainless steel thermos was 14.08 billion yuan in 2020, accounting for 75.3%. From 2017 to 2020, the CAGR of China's thermos cup industry revenue was 11.9%. At the same time, the quantity of thermos cups in China is low, thus there is much room for future growth. According to the data of the China Business Research Institute, in 2018, the number of stainless steel insulation vessels per capita in China was only 0.53, which was lower than the average of developed countries by 0.68, and far less than the average of Japan (1.43). Therefore, with the improvement of per capita consumption capacity and the trend of consumption upgrading, the future development space and growth rate of China's vacuum cup industry will be ahead of those of developed countries.

For overseas buyers, distributors and commodity markets, it is a prosperous period to import or invest thermos drinkware industry from China. A trusty business partner will speed up your step into the market. Golmate, a professional thermos drinkware manufacturer with experience of 21 years, who has well-rounded R&D capability and independent factories, is here to provide wholesale thermos product options with customized solutions for you, helping your brand and business pop out of the market. With our competitive price and stable quality, we have established long-term partnerships with global entrepreneurs and won a high reputation in the drinkware and kitchenware industry. Our clients include Montblanc, Aldi, Lidl, Kaufland, METRO, blokker, HEMA, ROSSMANN, Sodimac, Costco, and more. Want to be one of our partners? Feel free to contact us via E-mail: info@golmate.com. Team Golmate will always bring the best service to you.

*Resource from VZKOO.com

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