Global smart mugs market is anticipated to register growth with an impressive CAGR in the forecast period, 2023-2027. The market growth can be attributed to rapid technological advancements, growing urbanization, and increasing purchasing power of the consumer. Moreover, with the hectic working schedules and increasing working population across the globe is further adding to the demand for smart mugs. In addition to this, with the increase in working women population and the need for instant drinks is strengthening the market for smart mugs. Moreover, smart mugs prepare the beverage in a real quick time along with maintain its quality and taste. Smart mugs have flavored materials print on their surface and activate the flavor when the consumer adds water or any other liquid such as milk or soda and the added liquid is converted into a flavored drink.
This device is being considered as a scientific breakthrough in the food and beverage industry. It comes with a wide range of flavors such as berry blast, tropical punch and green tea lemon, raspberry citrus drink etc. Furthermore, smart mugs not only deliver favored drinks but also identifies and measures the liquids poured into it. It helps in tracking down the calories or grams that the consumer unwittingly has consumed.
Besides this, the increasing demand for on-the-go beverages by the gym enthusiasts and sport players is augmenting the need for smart mugs. In addition, the wide availability of smart mugs on the e-commerce platform is creating a positive outlook for the market. The online retail channels have emerged as a convenient and hassle-free shopping alternative for individuals where they are offered several lucrative discounts and cashbacks as well. Moreover, the key market players are extensively focusing on gaining traction from the millennial and gen Z by launching innovative and portable smart mugs, as such population is more enticed towards such products. As a result, the global market for smart mugs is anticipated to witness robust growth over the forecast period.
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Market Segmentation
The global smart mugs market is segmented by type, by material, by end users, by distribution channel, and regional distribution.
Company Profile`
Ember, Cauldryn, Glowstone, Burnout, Muggo, Geezo, OHOM are the key leading companies of the global smart mugs market.
