Hip Flask Market: An Overview
Similar to the mobile, the hip flask started to appear in the form it was recognized today in the 18th century, the primarily hip flask was mainly used by the well-born people of high social class especially in the past. Initially, the hip flask was made of malleable metal alloy (Pewter), silver, gold, copper, and glass, but nowadays hip flask is also available in stainless steel and plastics. The hip flask made from silver is now considered to be a vintage collector’s items.
The market of hip flask is attracted mainly due to its shape:
- Rectangular hip flask
- Kidney- shaped flask
- Oval or round hip flask
- Straight hip flask
The most common and easy to carry are rectangular and straight hip flask due to its flat proportions, the wherein kidney-shaped flask is popular across the global market with its availability in varying degree of curvature. Round or oval flask is not particularly used for carrying liquor, but due to its feminine style, women preferred to purchase and carry. The hip flask is considered as a gift to be exchanged mainly in the developed economies of the world, which can be customized to give a personal touch. Antique hip flasks, particularly those made of silver, are now sought-after collector’s items.
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Hip Flask Market: Dynamics
An increase in consumption of alcohol at a growing regions such as Russia, Western Europe, Australia, and Northern America would accelerate the demand for the hip flask market in years ahead, but the region of North Africa and the Middle East has lesser than 5% consumption of alcohol, this may result to sluggish demand for hip flask in the aforementioned market. Islam- the following countries have a global population of more than 200 million people; alcohol consumption is strictly prohibited in Islam.
The quick expansion of substantial economies due to globalization in recent years has raised the purchasing parity of country that is indicative of an increase in disposable income of an individual. This macro-economic factor is estimated to grow the demand for hip flask at a global market in years to come.
Carry alcohol in public is prohibited in many parts of the world, so the trend of carrying alcohol in the hip flask has been increasing the sales of the hip flask at a global market. The growing demand of hip flask is growing among the age group 25-55 years at an international level, especially people carry hip flask while attending an opera, going for fishing with family, watching sports at a stadium and similar events during their leisure time. Quality of being light-weighted and metallic is the first preference for hip flask among the buyers at the global market. Increasing liberation and globalization have increased the pace of trade among various economies of the world, and thus, it has increased the consumption of hip flask.
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Hip Flask Market: Segmentation
Globally, Hip Flask market segmented into many subsets.
Based on Material type
- Metal
- Gold
- Silver
- Pewter
- Stainless steel
- Glass
Based on capacity
- 4.4 Oz
- 6 Oz
- 7 Oz
- 9 Oz
- 12 Oz
Hip Flask Market: Regional Outlook
Countries of the Asia Pacific region are anticipated to signify significant progress opportunities for the Hip Flask market as companies are more inclined towards the market of the high-income group segment followed by sophisticated buyers across the global market.
North America followed by the European market, is expected to create remarkable incremental opportunities for Hip Flask market, the emerging countries of Asia-Pacific and Africa have potential business opportunities for the demand of Hip Flask in years to come. The market of Latin America would also be a vital market of Hip Flask in years ahead.
Hip Flask Market: Key Players
The leading companies operational in the Hip Flask market Himalyan Equipment Manufacturing Co., English pewter co., the whiskey exchange, Jacob Bromwell, wentworth pewter and many indigenous and unorganized companies are likely to give to the worldwide Hip Flask market in the latest upcoming years.
The 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.
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