How big of a cross-border market can a small thermos cup warm?

"Soaking wolfberry in a thermos cup" has become a "standard" for health-preserving people in my country. In fact, my country is not only enthusiastic about the use of thermos cups, but also unmatched in production. More than two-thirds of the world's thermos cups are produced in my country, with a production volume of 650 million in 2021.

With so many thermos cups, surely they are not all produced and sold in China, right?

Not really. According to data, North America is one of the major consumers of insulated beverage utensils in the world, accounting for about 42% of the global insulated beverage utensils market. Moreover, in terms of thermos cup consumption, the per capita consumption in my country is only 12 yuan, which is far lower than the 27 yuan in North America.

Do overseas consumers also like to use thermos cups for health care?

Overseas, thermos cups are not only used for heat preservation, but also for "cold preservation" to maintain the cold taste of iced drinks. Moreover, benefiting from the increase in outdoor activities after the epidemic, the recovery of long-distance commuting and the deepening of the concept of environmental protection, the applicable scenarios of thermos cups in overseas markets have gradually increased. Insulation cups are used in daily offices, commuting to and from work, outdoor sports, school classes, etc. cup.

Different usage scenarios create demands for different product types. For example, in the United States, where the road network and car culture are relatively developed, there are many office workers who have moved out of urban areas. Commuting takes a lot of time, so these users need extra large-capacity thermos cups. As a major consumer of carbonated drinks, the United States uses thermos cups to store ice drinks provided in fast food restaurants, which is cost-effective and keeps them cold. It is understood that stores like Starbucks also encourage consumers to bring their own cups to buy coffee.

In outdoor activities, it is more emphasized that the thermos cup must be strong and wear-resistant and adaptable to various environments. In an office environment, thermos cups need to have a sense of design and reflect the user's taste.

When taking a thermos cup overseas, it is important to break away from the thinking of foreigners who use it to keep hot water warm, and promote it based on the needs of local people.

At the same time, due to the increased demand for thermos cups from overseas users, the size of the thermos cup market is expected to continue to expand, leaving more industry opportunities for cross-border people.

Some institutions predict that from 2021 to 2031, the compound annual growth rate of the global thermos cup market demand will be approximately 5.5%, and the market size of the thermos cup in 2021 will be approximately 52.8 billion yuan.

The thermos cup is not a new industry. In overseas markets, markets with different characteristics have also developed. When cross-border people enter the industry, they must formulate targeted entry points and plans based on different scenarios.

North American market

The thermos cup market in North America is one of the largest markets in the world, and demand is strong.

In the United States, thermos cups already have FMCG potential. Zhongtai Securities estimates that per capita consumption in North America will reach 0.44 cups per person in 2023.

In the North American market, stainless steel vacuum insulated cups are the mainstream products. This is because stainless steel vacuum insulated cups have excellent heat preservation performance and long service life. In addition, North American consumers have higher requirements for product quality and functionality, so consumers in this region are not so sensitive to the price of thermos cup products.

In addition to international brands like THERMOS, some American brands such as STANLEY, Contigo, Solo Stove, etc. are also loved by local consumers. But overall, the U.S. thermos cup market is relatively dependent on imports.

European market

The size of the thermos cup market in Europe cannot be underestimated. Among them, countries such as Germany, the United Kingdom, and France are the main thermos cup consumer markets in Europe. However, the European thermos cup market is less dependent on imports. Germany, the United Kingdom, France, etc. all have strong thermos cup production capabilities, and their technology is relatively recognized. However, as the process of globalization deepens and becomes irreversible, European thermos cup brands have gradually diversified.

In the European market, the design and quality of thermos cup products are the focus of consumers' attention. Therefore, the price of thermos cup products on the European market is also relatively high.

Japanese market

Japan is one of the countries with the largest consumption of thermos cups in the world, and its market size is also growing year by year.

In the Japanese market, stainless steel vacuum insulated cups and ceramic insulated cups are mainstream products, among which stainless steel vacuum insulated cups account for more than half of the market share. Japanese consumers have very high requirements for the design, craftsmanship and quality of thermos cup products. Although they are in the East Asian circle, they also like to drink cold water. As a major manufacturer of thermos cups, Japanese brands have a high reputation internationally. The demand for imported thermos cups in the Japanese market is small and mainly local brands.

To sum up, among the major overseas thermos cup markets, Japan and Europe are relatively saturated, with large demand but relatively sufficient supply, and there are well-known local brands. Some emerging markets and the United States that have not yet formed a monopoly structure may have great potential.

Media Contact
Company Name: Yongkang Toptrue Houseware Co., Ltd.
Email: Send Email
Phone: 0086-13857957906
Address:68# Dangui Road
City: Yongkang
State: Zhejiang
Country: China
Website: https://www.toptruebottle.com/