The global beverage warmers market is surging with an overall revenue growth expectation of hundreds of millions of dollars during the forecast period from 2023 to 2032.
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The beverage warmers market refers to the industry involved in the manufacturing, distributing, and selling of devices designed to keep beverages fresh and warm. These devices are typically used to maintain the temperature of hot beverages, such as coffee, tea, and hot chocolate. Available in various forms, shapes, and functions, beverage warmers carry a warmer plate that is designed to handle a cup/mug.
The global market has witnessed significant growth due to the increasing consumption of hot beverages and rising demand for convenient applications. The key players involved in the worldwide market offer a wide range of products with multiple sizes and price options.
The global beverage warmers market is influenced by the rising consumer preferences towards modern applications for home and commercial usage. During the winter months, there is a growth in the beverage warmers market due to increased consumption of beverages like tea and coffee and ways to keep them warm for longer periods. Beverage warmers have a temperature of approx. 120 °F to 155 °F, which makes it convenient to maintain the temperature of various beverages.
Some of the primary growth factors for the worldwide beverage warmers market are rising disposable income and shifting societal norms. In addition, the rising demand for energy drinks and the growing use of ready-to-drink beverages (RTD) are some of the major factors propelling the expansion of this market. Additionally, the popularity of single-serve coffee makers and pods will likely increase in the coming years, which will help this market expand.
| Report Coverage | Details |
| Largest Market | North America |
| Fastest Growing Market | Asia Pacific |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Segments Covered | By Type and By Application |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Driver:
Cost-effective as compared to traditional warming appliances
A benefit of using warmers for coffee cups is that they will be cost-efficient over time as compared to other traditional warming appliances such as microwave ovens. One benefit of utilizing a coffee cup warmer is that, over time, it may be reasonably cost-effective, since most models are relatively affordable and last longer than other warming appliances, they are a cost-effective option for anybody interested in enjoying their warm drink without buying new ones at regular intervals. Beverage warmers are comparatively small in size which increases their portability. Considering such multiple advantages offered by beverage warmers, the demand for such appliances will continue to rise during the forecast period.
Restraint:
Ineffective while traveling
Travel mugs and beverage warmer plates are not advised to be utilized during travel as they have a vacuum seal inside. The material is of primary importance when determining how well the mug will withstand heat. As more mass is added to mugs, the more heat they absorb, eventually reaching a point where they can retain enough heat to keep the coffee warm for an extended period. Moreover, the beverage warmer requires electricity to perform, this requirement makes them ineffective while traveling.
Opportunity:
Technological developments
Recently, much innovative equipment has been introduced in the beverage warmers market, such as USB cup warmers, USB mug warmers, coffee cup warmers, mug warmers, and others. USB mug warmers are a great way to keep beverages hot throughout the day. They work by plugging into an electrical outlet and heating the surface of the mug warmer, and this surface transfers the heat to the mug or cup placed on the warmer, heating the liquid inside. Mug warmers are a great option as beverage containers, such as coffee and tea, at the perfect temperature throughout the day. They are designed to fit most standard mug sizes and feature a low-wattage heating element that is safe and efficient. The market expects such technological advancements to overcome barriers in the market, such technologies are expected to offer a plethora of opportunities for the market’s growth.
By type, tea and coffee are the most significant segments of the beverage warmers market. Coffee is expected to be the most attractive segment of the market during the forecast period. Tea and coffee are the most popular forms of beverages consumed by the majority of the population in the world. Thus, the tea beverage warmer and coffee beverage warmer are the segments which are one of the primary reasons helping further propel the market growth. The rising consumers of coffee along with the rising demand for coffee warmer plates in the commercial sector will act as a driver for the segment’s growth.
The tea warmer segment will also witness significant growth during the forecast period. Various tea warmers are readily available, each specifically designed for a kind of tea. Tea warmers can be made from glass, ceramic, plastic, and metal. Coffee beverage warmers mainly consist of a heating element fixed under the teapot or coffee cup and a thermostat that helps regulate the heating element's temperature.
The segment for home applications segment had the most significant share in the beverage warmers market in 2022, the segment will sustain its position during the forecast period. Beverage warmers are used in various places, mostly at homes, offices, or recreational areas. There is growth in the home applications segment due to consumers' growing preference for hot drinks like tea, coffee, and others.
Furthermore, office applications are expected to witness significant growth due to employees' increasing consumption of coffee and tea at the workplace. Using a single-serve cup has led to an increase in demand among consumers who prefer the individualized taste of their drink, which is further anticipated to boost market growth over the forecast period.
North America is the largest marketplace for beverage warmers, the region will maintain its dominance during the forecast period. US and Canada are the most significant contributors to beverage warmers globally. This can be attributed to the large consumption of coffee daily in North America. Also, a wide range of products is available in the North American market, from the type of coffee, like Arabica and Robusta, to the variety of available coffee drinks. So, there is coffee catering to the taste of everyone. Additionally, well-known coffee retail brands like Starbucks, Tim Morton, and Dunkin' Donuts contribute the most to coffee sales and consumption. All these factors are contributing to the rising beverage warmers demand in North America.
Europe is one of the largest consumers of coffee. Italy, Germany, and UK lead the European market for beverage warmers because of high coffee consumption. Unlike North America, people in Europe consume coffee for recreation and relaxation. Additionally, there is a growing popularity of special appliances in the European market, further propelling the demand for beverage warmers. Also, most European countries have a strong economy mainly because of rich industrial and agricultural diversity, trade, and technological innovations. This enables people to have a high disposable income, such factors propel the market’s growth in Europe.
Asia Pacific is another of the fastest–growing markets for beverage warmers across the globe. China and Japan dominate the Asia Pacific market for beverage warmers. This is mainly because of the vast availability of potential manufacturers in China and the fast advancements of technology in Japan. Though China has been primarily a coffee-drinking nation, there is a growing trend of drinking coffee, as consumption is increasing at a 15% annual rate. Globalization has popularized the North American culture, and drinking coffee is a part of this. Japan has been a leader in technological innovations. The beverage warmers market benefits from innovations as unique new products are available in this category. Changing consumer preferences, rising urbanization, rising disposable income, increasing production of technologically advanced products in the home appliances sector, and improving modern coffee consumption habits are the other factors leading to the growth of the beverage warmers market.
Segments Covered in the Report:
By Type
By Application
By Geography
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