According to a new report published by Allied Market Research, titled, “Growlers Market,” The global Growlers Market Size was valued at $456.8 million in 2021, and is projected to reach $791.1 million by 2031, registering a CAGR of 5.4% from 2022 to 2031. Europe was the highest revenue contributor and is estimated to reach $228.6 million by 2031, with a CAGR of 3.9%.
Download Sample Copy of Report @ https://www.alliedmarketresearch.com/request-sample/17324
Alcohol consumption has increased in recent years, particularly among the millennial population living in developing countries. Increased alcohol use, such as wine and whiskey, which has become a status symbol, fuels demand for growlers. It leads to an increase in the usage of growlers for storing and presenting drinks, which significantly increases demand for growlers.
Growlers are now commonly utilised in homes and business venues such as bars, pubs, and restaurants to create a spectacular display of alcohol. Drink consumers are willing to pay exorbitant prices for growlers that are uniquely designed, which improves the aesthetics of their displays; as a result, engaged stakeholders are creating new, innovative designs that are completely different from traditional growlers and add a sense of novelty to the decanter. Designs such as globes, diamonds, animals, and growlers with taps are expected to expand in popularity in both the home and commercial markets.
Although alcoholic beverages are connected with money and prestige, there has been a shift in consumer behaviour, which has resulted in a shift in the techniques employed by the engaged stakeholders. Growlers are made of plastic, which makes them less expensive than many glass growlers, allowing them to be adopted by those from lower socioeconomic backgrounds. Furthermore, because plastic is easy to shape, has a nice surface texture, and is unbreakable, growlers made of plastic are in high demand among consumers.
The global report is studied on the basis of material, end user, and sales channel. By type, it is segregated into spreader bar and conventional hammocks. By material, the market is studied across glass and plastic. By end user, it is segmented into residential and commercial. By sales channel, the Growlers Industry is bifurcated into offline channel and online channel.
COVID-19 has caused negative impact on the global market. Disruptions in supply chains, lack of availability of raw material, and a decrease in demand for alcoholic beverages were some of the reasons negatively impacting the Growlers Market Growth; however, with easing restrictions and gradual resumption of hospitality industry the demand is likely to surge in coming years.
Get detailed COVID-19 impact analysis on the Growlers Market: https://www.alliedmarketresearch.com/request-for-customization/17324?reqfor=covid
The global growlers market is studied across North America, Europe, Asia-Pacific, and LAMEA. Europe leads in terms of Growlers Market Share for 2021; however, Asia-Pacific is forecasted to witness significant growth during the forecast period, owing to surge in large-scale urbanization, rise in disposable income, and expansion of hospitality industry in the region. China along with India and South East Asian countries is likely to witness increased demand of growlers in the coming years.
Schedule a FREE Consultation Call with Our Analysts/Industry Experts to Find Solution for Your Business: https://www.alliedmarketresearch.com/purchase-enquiry/17324
Key findings of study
- By material, the glass growlers segment was the highest revenue contributor to the market, and is estimated to reach $314.8 million by 2031, with a CAGR of 5.8%. However, the ceramic growlers segment is estimated to be the fastest growing segment with the CAGR of 6.9% during the forecast period.
- By application, the alcoholic segment dominated the global market, and is estimated to reach $561.9 million by 2031, with a CAGR of 5.1%. However, the non-alcoholic segment is expected to be the fastest growing segment during the Growlers Market Forecast.
- Based on capacity, The 64 ounces segment was the highest revenue contributor to the market, and is estimated to reach $322.2 million by 2031, with a CAGR of 6.1%.
- Based on end user, the commercial segment was the highest revenue contributor to the market, with $358.3 million in 2021, and is estimated to reach $606.4 million by 2031, with a CAGR of 5.2%. However, residential segment is likely to be the fastest growing segment during the forecast period.
- Based on sales channel, the offline segment was the highest revenue contributor to the market, with $383.3 million in 2021, and is estimated to reach $646.5 million by 2031, with a CAGR of 5.1%.
- Based on region, Europe was the highest revenue contributor, accounting for $152.6 million in 2021, and is estimated to reach $228.6 million by 2031, with a CAGR of 3.9%.
Trending Report :-
- Hemp Clothing Market : https://www.alliedmarketresearch.com/hemp-clothing-market-A16939
- Pant Type Adult Diaper Market: https://www.alliedmarketresearch.com/pant-type-adult-diaper-market-A16589
- Dermocosmetics Market https://www.alliedmarketresearch.com/dermocosmetics-market-A11130
- Safety Mirrors Market : https://www.alliedmarketresearch.com/safety-mirrors-market-A17220
- Wall Art Market : https://www.alliedmarketresearch.com/wall-art-market-A16903 Smoking Pipe Market : https://www.alliedmarketresearch.com/smoking-pipe-market-A16901
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.