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Growlers Market Expected to Reach $791.1 Million by 2031—Allied Market Research

 
2022
Growlers Market

Report Code : A16946

quote Premium growlers made of glass material particularly crystal are gaining high traction among both commercial and residential segment of the market quote

Roshan Deshmukh - Manager
Consumer Goods at Allied Market Research

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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%.

Growlers are a class of containers with screw-on or a hinged gasket. These growlers, which may be used to store and carry beverages including carbonated and noncarbonated drinks, beers, cider, and more, are constructed of glass, ceramic, or plastic. Additionally, growlers with valves are utilised at wineries for the storing and transportation of huge quantities of wine. The market use of growlers is anticipated to increase due to features like longer storage times and beverage flavour preservation. The global growlers market is anticipated to experience slow revenue growth because to a number of factors, including high initial investment costs and a shortage of experienced labour.

Rise in spirit tourism encourages tourists to indulge and experience local beverages and their distilleries, which directly impact the growth of growlers. Tourism, especially in the western countries, has fuelled the revenue of growler, owing to increase in tourist visits to distilleries, wineries, and breweries. Furthermore, rise in acceptance of spirits consumption by overseas tourists fuels the market growth of growlers as the tourist prefer to enjoy the alcoholic beverages at premium places. Growlers place an important role to enhance the taste of alcoholic beverages especially wines. Furthermore, it provides premium touch to the aesthetics. With growing spirit tourism, especially for wine in Europe, the demand for growlers is likely to gain traction in upcoming years.

There has been a shift in consumer buying behaviour in the past few years. This shift has led to an increase in online purchases of products. Players manufacturing growlers are now adopting omnichannel approach and have ventured to sell their products online. These players are actively engaging on their own company websites as well as other ecommerce platforms such as Amazon, Walmart, and Target. The sale of growlers via online channels has witnessed an upsurge in the recent years. The ease of buying, wide selection of products, doorstep delivery, and ease of payment are attracting more customers toward these channels. The increase in sales via online channels will continue to grow in the near future, and provide lucrative Growlers Market Opportunities for the engaged stakeholders.

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.

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.

The growlers market is segmented into material, application, capacity, end user, sales channel and region. On the basis of material, the Growlers Industry is categorized into stainless steel, glass, ceramic and PET plastic growler. On the basis of application, the market is categorized into alcoholic and non-alcoholic. On the basis of capacity, it is fragmented into 128 ounces, 64 ounces, 32 ounces. On the basis of end user the market is bifurcated into commercial and residential. Based on sales channel the market is further divided into online and offline. Region-wise, it is analysed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, Russia, Portugal and rest of Europe), Asia-Pacific (China, India, Japan, Australia and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, South Africa, and rest of LAMEA).

The report focuses on the growth prospects, restraints, and opportunities of the global growlers market. The study provides Porter’s five forces analysis to understand the impact of various factors such as competitive intensity of competitors, bargaining power of suppliers, threat of substitutes, threat of new entrants, and bargaining power of buyers of the growlers market. Some of the major players profiled in the Growlers Market Analysis include Ardagh Group S.A., Alpha Packaging, William Croxsons & Sons Limited, GrowlerWerks, Inc., Global Glass Solutions, Orange Vessel Co, Berlin Packaging LLC, Boelter Companies, Inc, Drink Tanks Corporation, Zenan Glass, Novio Packaging B.V., MJS Packaging Inc, Saxco International, LLC, Hydro Flask, and Portland Growlers Company.

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 theGrowlers 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%.

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quote Growlers Market by Material (Stainless Steel , Glass Growlers, Ceramic Growlers, PET Plastic Growlers), by Application (Alcoholic, Non-Alcoholic), by Capacity (128 ounces, 64 ounces, 32 ounces), by End User (Commercial, Residential), by Sales Channel (Online, Offline): Global Opportunity Analysis and Industry Forecast, 2021-2031 quote

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