Smart Temperature Controlled Mug Market - Forecast(2024 - 2030)

Smart Temperature Controlled Mug Market Overview:

Smart Temperature Controlled Mug Market size is estimated to reach $1.1 billion by 2030, growing at a CAGR of 8.1% during the forecast period 2023-2030. The increasing demand for smart gadgets and rising consumer demand for convenience are propelling the Smart Temperature Controlled Mug Market growth.

Additionally, the growing demand for hot beverages is creating substantial growth opportunities for the Smart Temperature Controlled Mug Market. In 2022, According to the Smart Mug Survey, coffee emerge as the predominant hot beverage of choice within the smart mug category, comprising over 60% of total smart mug consumption. These factors positively influence the Smart Temperature Controlled Mug industry outlook during the forecast period.

Market Snapshot:
Smart Temperature Controlled Mug Market - Report Coverage:

The “Smart Temperature Controlled Mug Market Report - Forecast (2024-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Smart Temperature Controlled Mug  Market.

COVID-19 /Ukraine Crisis - Impact Analysis:

●        The COVID-19 pandemic significantly influenced the Smart Temperature Controlled Mug market. Lockdowns and remote work measures had spurred an unprecedented demand for at-home beverage solutions. Consumers sought to replicate their favorite café experiences, which led to a surge in sales of temperature-controlled mugs. Although supply chain disruptions briefly impacted production and distribution, the market quickly adapted, offering diverse and eco-friendly product options. In retrospect, the pandemic accelerated the market's growth by emphasizing convenience and personalized beverage experiences.

●        The Ukraine crisis introduced geopolitical uncertainties that indirectly affected the Smart Temperature Controlled Mug market. Fluctuations in commodity prices, particularly stainless steel, commonly used in premium mugs, led to cost variations for manufacturers. Additionally, disruptions in global logistics networks temporarily impacted product availability in certain regions.

Key Takeaways:

●       Fastest Growth Asia-Pacific Region : Geographically, in the global Smart Temperature Controlled Mug Market share, Asia Pacific is analyzed to grow with the highest CAGR of 9.4% during the forecast period 2024-2030 owing to the rising urbanization and a tech-savvy populace have driven demand for smart, convenient and eco-friendly beverage solutions. A burgeoning cafe culture, coupled with the need for portable, temperature-controlled mugs for on-the-go lifestyles, has further fueled this growth. Moreover, manufacturers have capitalized on this trend, offering region-specific designs and catering to diverse beverage preferences. In 2022, Chinese startup company Xiaomi launched its first Smart Temperature Controlled Mug called the Xiaomi Smart Mug. The mug has a built-in battery that can be charged wirelessly and it can be integrated with the Xiaomi Home smart home system.

●       Stainless Steel to Register the Fastest Growth : In the Smart Temperature Controlled Mug Market analysis, the Stainless Steel segment is estimated to grow with the highest CAGR of 8.8% during the forecast period 2024-2030. Stainless steel temperature-controlled mugs were experiencing rapid growth due to their excellent insulation properties, durability, and professional appearance. Consumers increasingly valued the ability to keep their beverages hot or cold for extended periods, and stainless steel mugs met this demand effectively. The durability and modern aesthetics of stainless steel made it a popular choice, especially among urban professionals and coffee enthusiasts. According to the World Steel Association, global stainless steel production in 2022 was 62.1 million metric tons, a 4.4% increase from 2021. 

●          Large (More than 16 oz) is Leading the Market : According to the Smart Temperature Controlled Mug Market forecast, the Large (More than 16 oz) held the largest market share of 45.4% in 2023 owing to their versatility and ability to accommodate ample servings of hot or cold beverages. Consumers appreciate the convenience of fewer refills and extended temperature control, making them ideal for long workdays, travel, and outdoor adventures.

●         The Surging Demand for Smart Gadgets : Consumers today prioritize convenience as well as connectivity and these mugs, equipped with smartphone apps and customizable features, cater to those needs. The ability to control remotely and monitor beverage temperatures, coupled with tech-savvy functionalities, makes these mugs an attractive choice. As the smart gadget trend continues to reshape the consumer electronics landscape, the Smart Temperature Controlled Mug market is experiencing significant growth, appealing to individuals seeking a blend of modern technology and beverage enjoyment. According to a Smart Insights report, Over 62% of consumers are interested in purchasing a smart mug in 2022.

●       The Rising Consumer Demand for Convenience : In our fast-paced world, people value hassle-free solutions for keeping their beverages at the perfect temperature. Temperature-controlled mugs offer just that, allowing users to enjoy hot or cold drinks without worrying about rapid temperature changes. This convenience factor is particularly appealing to those with busy lifestyles who seek efficient, on-the-go solutions. In 2023, as per PwC report, 86% of consumers are willing to pay more for a product or service that is convenient.

●       Limited Battery Life Hamper Market Growth : The Smart Temperature Controlled Mugs offer the convenience of maintaining beverages at ideal temperatures, many face the drawback of short battery spans. This limitation impacts their usability, often frustrating consumers who desire uninterrupted enjoyment of their hot or cold drinks. This issue poses a hindrance to the market's growth potential, particularly because consumers increasingly incorporate these mugs into their everyday lives, whether during commutes, workdays, or outdoor activities.

 Smart Temperature Controlled Mug Market Share (%) By Region, 2023

Key Market Players:

Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the Telecom Generator Market. The top 10 companies in this industry are listed below:

1. Ember Technologies, Inc.(Ember Travel Mug 2, Ember Mug 2)
2. Yeti Holdings, Inc.(Rambler®10 oz Stackable Mug, , Rambler® 14 oz. Mug)
3. Cauldryn LLC (Cauldryn Coffee Smart Mug, Cauldryn Fyre Mobile)
4. Thermos LLC (16oz ICON™ MUG, 16oz STAINLESS KING™ MUG)
5. Yecup Inc. (Yecup 365 Pro Smart Mug, Yecup 2 Temperature-Controlled Travel Mug)
6. Muggo Inc. (Muggo Qi, Muggo Wood series)
7. OHOM Inc. (Ui Mug, Ui 3 Self-heating Mug)
8. Contigo Brands (Glaze TWISTSEAL™, Luxe AUTOSEAL™ )
9. Zojirushi Corporation (SM-KHE36/48, SM-SA60-BA  Mug)
10. BURNOUT Mugs (Instant Drink Mug,  12 oz Mug)

Scope of the Report: