Teacup Market Size, Share & Industry Analysis, By Product Type (Glass, Clay, Plastic, Others(Plastic, Bamboo)), By Type (Disposable, Non-Disposable), By Application (Residential, Commercial) and Regional Forecast, 2024-2032

The consumption of teacups is exhibiting an escalating growth as there is an increasing number of people who are inclined towards hot beverages. The various positive attributes of the usage of teacup include possessed a very high heat resistance, available in a variety of looks, shapes, and designs, and others. The rising popularity of the establishment of tea café across the world has positively impacted the market growth. Furthermore, the innovation of a smart teacup that can retain the heat of the tea for a long period acts as an opportunity for market growth. For instance, a brand called Jecobi comes up with a double-wall insulated glass teacup that can sustain the heat of the for a long period and also can cool down the outer layer of the cup.

A large number of people around the world have the habit of consuming tea daily act as a driving factor for the market growth. The rising number of high-end hotels and restaurants increasingly consuming premium utensils including teacup has boosted the consumption rate. Furthermore, the popularity of the usage of the product for the consumption of beverages other than tea such as coffee, milk, hot chocolate, and others is likely to fuel the demand for the product. Moreover, the rising trend among corporate offices of providing the employee's free beverages to help them stay aware and alert is estimated to generate more traction. Additionally, the escalating demand of the product in many of the cafeteria of education institutions such as schools and colleges has a positive influence on product growth.

Nevertheless, the presence of low-quality products which does not have high-temperature resistance and easily break, melted, or even becomes harmful to the body when it comes in contact with hot beverages acts as a hampering factor for the market growth. For instance, the usage of low quality plastic teacups can result in the leakage of chemicals when it interacts with a hot beverage.

Key Market Driver -

The large people across the globe consuming tea on a daily basis act as a driving factor for the market growth.

Key Market Restraint -

The availability of low quality products in the market act as a restraining factor for the market growth.

Key Players Covered:

ExclusiveLane, LaOpala, Borosil, Femora, VarEesha, Clay Craft, Bender Limited, and others are the key players operating in the teacup market.

The teacup market is segmented into product type, type, application, and geography.

On the basis of product type, the market is fragmented into glass, clay, plastic, and others(paper, bamboo). Clay cups are projected to be the dominant owing to the product being considered to be more durable than glass and paper and also has easy cleanability as compared to plastic and bamboo.

Based on type, the market is bifurcated into disposable and non-disposable. The non-disposable segment is estimated to the larger segment on an account of being popularity used in homes as well as in various food outlets such as restaurants, café, bars, and others.  Similarly, disposable are mostly considered to be used only in especially occasion due to its convenience to be able to quickly dispose of the product.

By application, the market is divided into residential and commercial. Residential is anticipated to be the leading market shareholder due to most households tend to purchase extra teacups usually more than their family members to meet the requirements in case of friends or family gatherings.

Regional Analysis:

On the basis of region, the market is divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa.

Asia Pacific is evaluated to be the leading market shareholder and is expected to continue throughout the forecast period of 2020-2027. The rising growth of the consumption of tea in various countries such as India, China, Japan, and others has a crucial contribution to the rising demand for a teacup. For instance according to the Indian Tea Association data issued, in 2018 there is an estimation of 1084 million Kg tea to be consumed by the Indian population. Furthermore, the rising popularity of the offering of tea to guests visiting their homes by people of this region is helping to upsurge to the demand for the product.  

North America is assessed to display extensive growth in the teacup market owing to the rising awareness of the importance of tea especially for the prevention of various health issues such as heart diseases. For instance, according to the USA today article issued, June 2019, is proclaiming that from a survey done on 14,081 participants individuals who regularly drank tea have a 56% lower risk of fatal heart disease. Furthermore, the rising number of cup manufacturers of this region such as Walton Laser Worx, Etsy, Inc, Tervis Tumbler Company and others coming up with customizable attractive looks and designs targeting different age groups, gender, ethnicity has helped to accelerate the consumption of teacup.

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Segmentation

Key Industry Developments-

• In February 2020, Tealive declared the launch of the Malaysia’s first strawless reusable bubble tea cup.This will assist to reduce the use of single-use plastics.

• In March 2020, Huawei announced the introduction of its smart insulation cups which has the capability to display real-time temperature. This ideal for the used of various hot beverage such as tea, coffee, and others