The beverage coaster market is growing due to increased demand in the hospitality industry. Trends like branded and sports-themed coasters are gaining popularity. Additionally, rising beverage consumption driven by improved consumer lifestyles is fueling market expansion globally.
NEWARK, DE / ACCESSWIRE / December 2, 2024 / The beverage coaster market is projected to experience steady growth, with an expected CAGR of 5.2% during the forecast period. Valued at USD 1.5 billion in 2022, the market is anticipated to exceed USD 2.5 billion by 2032.
A beverage coaster is a small pad designed to protect surfaces like tables from heat, moisture, or stains caused by beverages in cups, glasses, bowls, or mugs. The rising demand for beverage coasters is driven by increased consumer interest in coffee shops, bars, lounges, and other venues where beverages are the primary offering.
Typically crafted from materials such as paperboard, foam, or tissue paper, beverage coasters not only absorb excess moisture but also serve as marketing tools for businesses. The use of coasters as promotional items featuring company logos, advertisements, and sports team branding is contributing to the market's expansion.
The hospitality sector is a key driver behind the growth of the beverage coaster market, with businesses increasingly adopting coasters for both functional and branding purposes. As consumers lead more beverage-focused lifestyles, the demand for coasters continues to rise, further boosting market growth during the 2022-2032 period.
Explore In-Depth Analysis - Click Here to Access the Report! https://www.fmisamplereport.com/sample/rep-gb-5733
"The beverage coaster market is experiencing steady growth as consumers increasingly seek functional and stylish solutions for their drinkware. With trends leaning towards eco-friendly materials and personalized designs, the market is poised to expand further, especially in hospitality and home décor sectors." Says a Lead Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).
Key Factors Propelling Growth in the Beverage Coaster Market
Rising Consumer Focus on Home Décor and Personalization: As consumers increasingly seek personalized and aesthetic home décor items, beverage coasters are becoming a popular accessory for homes, cafes, and restaurants. Coasters with unique designs or customized prints appeal to this growing trend.
Growth in Hospitality and Foodservice Sectors: The expanding hospitality industry, including hotels, restaurants, bars, and cafés, drives the demand for beverage coasters. These establishments use coasters to enhance customer experience and protect surfaces, leading to a rise in market demand.
Sustainability and Eco-Friendly Materials: As sustainability becomes a key consideration for consumers, the demand for eco-friendly beverage coasters made from materials like bamboo, cork, and recycled paper is on the rise. This shift is encouraging manufacturers to innovate with environmentally conscious products.
Increase in Disposable Income and Social Gatherings: With the rise in disposable income, people are spending more on home entertaining and social gatherings, driving the need for stylish and functional beverage coasters. These products are essential for maintaining cleanliness and enhancing the aesthetic of social settings.
Innovations in Design and Functionality: The development of multi-functional coasters, such as those with built-in holders, heat resistance, or integrated charging pads, is attracting consumers looking for innovative solutions. These product innovations are driving the growth of the beverage coaster market by offering added value and versatility.
Challenges Faced by the Beverage Coaster Market
Sustainability Concerns: As consumers become more environmentally conscious, the demand for eco-friendly beverage coasters is rising. Manufacturers face challenges in sourcing sustainable materials like biodegradable, recyclable, or compostable options, while still maintaining product quality and affordability.
Competition from Alternative Products: The beverage coaster market competes with other drink accessories like napkins and drink holders, which can sometimes offer similar benefits at a lower cost. This makes it difficult for coaster manufacturers to differentiate their products and capture consumer attention.
Price Sensitivity: Consumers are often price-conscious, especially in mass-market segments. High-quality coasters made from premium materials or custom designs may struggle to justify their higher prices compared to mass-produced, budget-friendly alternatives.
Changing Consumer Preferences: Trends in design and material preferences evolve quickly. The market faces challenges in predicting which materials (e.g., cork, silicone, bamboo, or ceramic) and design trends will appeal to consumers, making it difficult for manufacturers to stay ahead of the curve.
Durability and Performance: Beverage coasters must withstand regular use without losing their functionality or aesthetic appeal. Manufacturers must balance cost with durability, ensuring the coasters effectively protect surfaces from moisture, heat, and stains while maintaining their visual integrity over time.
Global Beverage Coater Market - Regional Analysis
The North American beverage coaster market is projected to lead in terms of revenue growth, outpacing other regional markets. Both India and China are expected to show significant revenue growth in the beverage coaster segment, contributing substantially to global market dynamics.
Additionally, the beverage coaster market across other Asia-Pacific countries will benefit from increasing disposable income and rising consumer spending power. In Latin America, the demand for beverage coasters is also expected to grow at a notable pace, albeit at a relatively smaller scale compared to other regions.
In the Middle East and Africa (MEA), the GCC countries and South Africa are expected to make the most significant contributions to the overall revenue increase in the beverage coaster market.
Global Beverage Coaster Market Key players
Few of the key players in the beverage coaster market are The Katz Group Americas, Inc., Cangnan Worldwide Gifts Co., Ltd., Coaster Factory, Yangjiang Zhixiang Industry & Trade Co., Ltd., Guangzhou Artgift Trading Ltd., Shenzhen Longgang Jinweixin Silicone Product Factory, etc.
Global Beverage coaster - Market Segmentation
The global beverage coaster market can be segmented by the material type, by printing technology, and by end user base.
On the basis of material type, the global beverage coater market is segmented into:
Paper
Paperboard
Tissue Paper
Foam
Glass
Others
On the basis of printing technology, the global beverage coater market is segmented into:
Digital printing
Offset printing
Flexography printing
Gravure printing
Screen printing
Others (Letterpress, etc.)
On the basis of end use, the global beverage coaster market is segmented into:
Food Service Outlets
Pubs & Lounges
Restaurants
Hotels
Fast Food Joints
Offices
Household
Others
On the basis of region, the global beverage coaster market is segmented into:
North America (USA, Canada)
Latin America (Mexico. Brazil)
Western Europe (Germany, Italy, France, UK, Spain)
Eastern Europe (Poland, Russia)
Asia Pacific (China, India, ASEAN, Australia & New Zealand)
Japan
Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
Authored by:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail's strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor's Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show - Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
Have a Look at Related Research Reports on the Packaging Domain:
The paper coaster market size is possibly set to increase to USD 275 million by 2034, up from USD 190.4 million in 2024. The market is estimated to experience a continuous 3.70% CAGR from 2024 to 2034.
The demand for sanitary food and beverage packaging is rising, driven by increasing consumer awareness of hygiene, safety, and sustainability, along with stricter regulations in the food industry.
The global beverage packaging market is estimated to secure a valuation of USD 142.3 billion in 2024. The industry is anticipated to reach a value of USD 194.3 billion by 2034. Sales are projected to rise at a CAGR of 3.2% over the forecast period.
The demand for sanitary food and beverage packaging is rising, driven by increasing consumer awareness of hygiene, safety, and sustainability, along with stricter regulations in the food industry.
The safety label market is predicted to surge at a CAGR of 3.6% during the forecast period. The industry is starting a race at USD 5.4 billion in 2024 and sprinting forward to cross the finish line at USD 7.7 billion by 2034.
A Tamper-Evident Label is a type of label or seal used on products to indicate whether a product has been opened, altered, or tampered with. These labels are designed in such a way that they provide clear visual evidence if they have been disturbed or removed.
The global automotive labels market is likely to be valued at USD 7,603.99 million in 2023 and is predicted to secure a slow-paced CAGR of 4.3% during the forecast period. The market is expected to be worth USD 11,584.7 million by 2033.
The growing demand for retro-reflective labels is driven by enhanced safety requirements, increased use in traffic signage, and industrial applications, providing high visibility in low-light and hazardous environments.
Global sales of wrap-around label are estimated to be valued at USD 8.8 billion in 2023. The wrap-around label market size is anticipated to reach USD 13.8 billion by 2033.
The rising demand for labels is driven by increased consumer awareness, regulatory requirements, and the growing need for effective branding in various industries, including food, cosmetics, and pharmaceuticals.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website:https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
SOURCE: Future Market Insights, Inc.
View the original press release on accesswire.com
