Sports and outdoor recreational activities have caught the imagination of the new-age population in a significant way. And, this leads to a higher demand for tumblers in which liquids can be carried with ease. As per a recent study by Transparency Market Research (TMR), the growth rate, compounded annually between 2018 and 2028 will be quite decent and will generate worthy opportunities for global tumblers market players in the period.
It is pertinent to note that a notable demand will arise for the one with lids due to their being super-handy. They stop spillage and leakage and the reusability makes them highly desirable for this outdoorsy new population which is quite aware of the choices it makes and the impact the choices create on the surroundings.
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Besides, as convenience forms a key for the millennial population, the tumblers are getting more and more popular with each passing year, thanks to their ability of simplifying lives for people who camp, trek, travel and so on, on a regular basis.
The market landscape of global tumblers market sees a lot of players and is thus quite fragmented and notable names in the market landscape include Tupperware Brands Corporation, Pelican Products, Inc., CamelBak Products, LLC, Can’t Live Without It, LLC (S’well Bottle), Thermos, LLC, Evans Manufacturing, Inc., Hydro Flask, Ee-Lian Enterprise (M) Sdn. Bhd., Cool Gear International, LLC, Klean Kanteen, Inc., Yeti Coolers, LLC, O2COOL, LLC, Bubba Brands, Inc., and Lock&Lock Co., Ltd., among others.
A lot of players focus on market expansion via mergers and acquisitions and partnerships and collaborations. Marketing of products also holds a key place in the global tumblers market. Other strategies include designing and packaging the product well, as per the taste of the target consumer. Also, product development is a major strategy for players to maintain an edge over the competitors.
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