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.
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