Coaster Market: Overview
Coaster is a small mat which is used to protect the table surface from damage and stain. It is used to keep glasses, cups, or any drinking vessels upon it. The thermal conductivity of the coaster is very less, which gives the advantage to avoid burning damage of table top. The coasters are made up of clay, wood, and glass. These coasters are optimum solution for dishwashers, microwave ovens, freezers, and other electronic devices for maintaining clean and hygienic workspace. Additionally, the spread liquid and stain absorptivity of foam and hard paper coaster propel the growth of the global market of coaster in multiples. The coasters provide sturdy and non-slip grip to the glass and other utensils. The market of the coaster is expected to rise due to its versatile nature. Tough rivalry among manufacturers is witnessed due to the entry of new entrepreneurs. As it requires less initial cost, many key players are manufacturing coaster along with other products. With the changing life style and fashion trends, the coaster market is expected to rise significantly during the forecast period.
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Coaster Market: Dynamics
Prevention of furniture and electronic devices from stain and blemishes is the key driver for rising growth of the global coaster market during the next decade. However, the other factors fueling the market growth are branding and promotional strategies adopted by manufacturers and brand owners and easy product customization. As per the customer’s requirement, the coasters are printed and laminated with different pictures of brands, sports franchise, emoticons, and quotes. The coaster market is increasing on the backdrop of an increasing number of coffee shops, restaurants, and hotels. New opportunities are expected with the noticeable growth of hospitality industries. The coasters are available in different shapes and sizes which further increase its market across the globe. Significant growth of coaster market is expected during the forecast period owing to its various characteristics including eco-friendly, nontoxic, anti-dust material and incur less cost for recycling. The coasters are easy to clean, reuse, and have smooth texture, hence its demand for household purposes is increasing rapidly. The absorbent stoneware car coasters used to soak spills and leaks and replace the use of tissue papers. The preference for such coasters is consistently rising as it can control the odor of spilled food and drinks.
Personalize coasters or customization might slow down the growth of coaster market as it involves huge cost and special dies for manufacturing.
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Coaster Market: Segmentation
Coasters are segmented by considering various parameters such as material, application and end use.
On the basis of Material,
- Others (Ceramic, Silicon, Paper and Hard Foam)
On the basis of Application,
- Car Coaster
On the basis of End User,
- Food Service outlets
Coaster Market: Regional Outlook
With the increasing disposable income per capita and spending among consumers, the coaster market is growing rapidly in many regions. It is witnessed that the United States and Canada are the supreme markets due to increasing consumption of beverages. Following to North America, European countries are anticipated as maximum revenue growth markets for coasters. France, Germany, and Italy market is expected to grow further. However, Turkey, the UK, and Spain markets are potentially developing compared to other countries. In South America, the Mexico market is expected to become an emerging market for coasters and will grow further with the notable growth rate. The changing lifestyle and rapid urbanization in India and China are highly responsible for increasing growth of coaster market. Additionally, other countries of the Asia Pacific such as Japan and Indonesia are anticipated as mature market. In MEA and Oceania regions, slow market growth is witness; however, GCC countries and Australia coaster market will contribute to more market share during the forecast period is expected.
Coaster Market: Key Players
- The Katz Group Americas, Inc.
- Coaster Factory
- Beverage Coasters, Inc.
- Badger Design Ltd.
- McCarter Coasters
Coaster Market: Recent Developments and Trends
- In 2017, The Katz Group Americas, Inc. is awarded an A+ rating from SAGE
- In 2018, Badger Design Ltd. enhanced product line by introducing dye sublimated glass coasters.
The Coaster market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.