Ten billion level thermos cup market

"Soaking wolfberry ina thermos cup" is a popular health care model in my country. As winter approaches, many people have begun to buy "winter suits", among which thermos cups have become a popular product for winter gifts in my country.

In recent years, there has been a craze for buying thermos cups abroad. Could it be that foreigners also have "Chinese-style health concepts"? In my country's traditional concept, the thermos cup is to maintain "heat", while the function of the thermos cup for overseas consumers is to maintain "coldness".

The market for thermos cups in my country is close to saturation. According to industry observations, thermos cups have become one of the essential items for every overseas household. The demand for thermos cups is huge and there is unlimited room for development. Overseas consumers are also very fond of Chinese thermos cups, and cross-border merchants Facing the huge overseas market, how can we seize this trend and make money from foreigners?

01

Thermos cup market insights

In the past two years, outdoor sports such as camping, hiking, and cycling have become popular overseas, and the market demand for thermos cups has also increased.

According to relevant data, the global thermos cup market will be US$3.79 billion in 2020, and will reach US$4.3 billion in 2021. The market size is expected to reach approximately US$5.7 billion in 2028, with a compound annual growth rate of approximately 4.17%.

With the continuous improvement of economic level, the pursuit of quality of life is also getting higher and higher. With the rise of outdoor camping, picnics, cycling and other sports, the demand for thermos cups and outdoor tents has surged. Among them, Europe and North America are the world's largest thermos cup markets. In 2020, the North American thermos cup market will be approximately US$1.69 billion.

In addition to North America, Europe, Asia-Pacific, South America, the Middle East, Africa and other regions also occupy important market shares.

Consumers in North America, Europe, Japan and other places like to drink iced coffee, milk tea, cold water and eat raw and cold food all year round. The role of thermos cups abroad is to maintain ice-cold temperatures and experience high-quality taste at any time.

According to overseas questionnaire surveys, many consumers complain that drinks lose their taste after being left for an hour, which is very distressing. 85% of consumers expect that "whether they drink hot coffee in the morning or cold coffee in the afternoon, they can maintain the original taste at any time."

European stainless steel thermos cup consumption accounts for 26.99% of the global market, North America accounts for 24.07%, Japan accounts for 14.77%, etc. From the perspective of global market share, the export of thermos cups will become a new trend for cross-border sellers to go overseas.

02

China's thermos cup export advantages

Tracing back to its roots, in the 19th century, the world's first thermos cup was produced in the United Kingdom. Today, Zhejiang, my country, has become the world's largest thermos cup production place and has the world's largest thermos cup market supply chain.

According to data from the General Administration of Customs, my country's total output of thermos cups will reach 650 million in 2021. As of August 2022, my country's export volume of thermos cups will be approximately US$1 billion, an increase of approximately 50.08% compared to last year. China’s exports of thermos cups to the United States amount to approximately US$405 million.

According to data from Huaan Securities, China accounts for 64.65% of global stainless steel thermos cup production, making it the world's largest thermos cup manufacturer, followed by Europe and North America, which account for 9.49% and 8.11% of global thermos cup production respectively.

In the past five years, my country's export volume of thermos cups has reached about 22%, making it the largest supplier of thermos cups in North America, Europe and other regions.

Relying on mature production technology and abundant human support, China has a huge supply chain of thermos cups, and overseas sellers of thermos cups have strong supply backing.

China has a strong thermos cup production and supply chain, and sellers can get twice the result with half the effort when exporting thermos cups to overseas markets. However, there are still many things that sellers need to pay attention to when going overseas for thermos cups.

Facing different consumer groups, sellers should pay attention to the corresponding design of thermos cup products. For example, young overseas consumers will pay more attention to the selection of functions of the thermos cup (which can display temperature, time, constant temperature, etc.), and the appearance will tend to be colorful, and the pattern of the thermos cup will tend to be trendy and fashionable, especially with Other brand co-branding, etc. Middle-aged consumers prefer thermos cups with high cost performance. They have no requirements for color or appearance and mainly focus on price and practicality.

Overseas consumers use thermos cups for work, school, outdoor travel and other places. Sellers can pay attention to designing conveniences for people in different situations. For example, if outdoor sports require a portable thermos cup, hooks and rope loops can be designed on the thermos cup. ; In the workplace, a handle can be designed on the body of the thermos cup to make it easier for users to hold it.

In the future, the development trend of the thermos cup market will get better and better. Sellers should carefully examine the market and take into account the actual situation. The overseas business will definitely have a lot of orders.