A bottle opener is an instrument that helps remove metal bottle caps from the glass bottles. Generally speaking, corkscrews are included in openers to extract cork or plastic stoppers from wine bottles. With the rise in the hotel and restaurant industries, the demand for bottle openers has witnessed significant growth over the past few years. Bars and cafes are also helping the growth of the bottle openers market as it is an essential tool. The outbreak of the COVID-19 pandemic had negatively affected the bottle openers market.
The enforcement of lockdown by the government had restricted the consumers from moving out; therefore, the consumers had no option to visit the restaurants, bar, cafes, and others, which led to decrease in requirement for bottle openers. The customers are likely to return to their habit after lockdown and begin visiting restaurants, bars, and other facilities, which will lead to the need for bottles openers.
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Urban Trend (H.K.) Ltd, Chalhoub Group, Wineware (Racks & Accessories) Ltd, Zwiesel Kristallglass AG, Libbey Inc., Baccarat, Inc., Tiroler Glashutte GmbH, S & K International Co, Ltd, Perfect Manor International Ltd, and Vogue (H.K.) Ltd.
COVID-19 Impact Analysis
There was a partially negative effect on the bottle opener market due to the COVID-19 pandemic as the consumers were restricted to move outdoors and the food sector had no visitors. The unavailability of stocks and the disrupted distribution channel could not counter the demand raised by the household sector. The companies could not receive the appropriate amount of raw materials in processing into bottle openers.
The pandemic has induced the usage of online services in consumers. The increase in the shopping of wines and other beverages by the consumers has directly increased the demand for bottle openers in the household sector.
Top Impacting Factors
The growing middle-class population, increase in disposable income, high investment toward the hotel and catering industry are expected to influencing the trend of visiting restaurants, bars, cafes, and others. The food industry opts for using tools such as a bottle opener to boost working tempo and minimize waiting time to control demand and enhance service quality.
The introduction of e-commerce is an opportunity for consumers to explore the desired products and buy according to their preference. The bottle opener companies should introduce new designs for products that give an option to be reviewed by the consumers that help direct the companies in identifying the exact market need.
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Online shopping of food & beverages boosts the growth of essential equipment that is accompanied to carry out the process of serving or consuming. The increased online ordering of wines and other beverages created a need for bottle openers in the household sector.
Changing in lifestyle and taste of the consumer
A trend of rapid urbanization is occurring in developing countries, where consumers from rural areas are adapting to the urban culture. This transformation is also affecting the change of taste and preferences. Consumers are shifting toward the practice of consuming drinks at homes as moving outdoors is not possible. The enforcement of lockdown and the busy schedule of the consumers are forcing them to move toward online shopping.
The introduction of new designs is expected to attract customers
Online retailing is gaining popularity
The major manufacturers of bottle opener all around the world, contributing to a large percentage of the total production of openers. Manufacturing companies offer heavy discounts on sales of openers, making it a profit-making deal for the buyers. Due to the ongoing pandemic, the business had partially shifted from traditional to online. Currently, the manufacturing companies are creating their website for sales or entering into a partnership with e-commerce giants to sell their products.
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