Tumbler market shows exceptional growth

Sales of insulated cups and tumblers have jumped at a fast pace in South Korea on the back of increased demand for coffee and changes in consumer pattern, industry analysts said Tuesday.

Thermos LLC, a global manufacturer of insulated cups and tumblers, said it has logged an annual 30-percent sales jump here since establishing a local company in 2011.

Founded in 1904, Thermos is now operating in about 120 countries, including Japan and Canada, and capable of producing more than 60 million insulated cups and tumblers annually. "Our company is forecast to log more growth this year helped by the growth of the coffee industry," said a Thermos official.

US-based S'well Inc. which produces relatively high price stainless steel bottles, also recently launched its products in the local market.

First launched in Manhattan, New York, the firm produces various bottles in different sizes and colors that are priced between 40,000 and 50,000 won ($45), the company said.

Seoul-based Lock&Lock Co., which produces plastic containers, recently launched a tumbler line both in South Korea and China.

The company said it launched insulated products in various sizes and colors to make inroads into the emerging market.

Industry analysts also attributed the jump in the market to more consumers thinking of tumblers as a fashion item and willing to spend more money.

"A tumbler is not just an item to contain drinks, but an everyday item that shows a person's personality," said Thermos CEO Matsumoto Nozomi, noting that there are some consumers who collect various tumblers.

The analysts say that tumblers have become a symbol of eco-friendly and a way to show personality.

"Tumblers have become increasingly popular among the young generation in their 20s and 30s and the market is also changing rapidly," said Hong Deok-hee, a Lock&Lock official, adding that the company is rolling our various products to meet their needs. (Yonhap)