In 2021, the cup carriers market was estimated to be worth roughly US$ 308.0 Mn. Sales of cup carriers are anticipated to grow at a strong CAGR of 5.1% over the forecast period, valued at US$ 528.5 Mn by 2032.
It is anticipated that the market for cup carriers will expand significantly. Devices that are used to hold and carry cups, bottles, and other containers of various sizes are referred to as cup carriers or cup holders. They are frequently used in cars and other vehicles, as well as in the food and beverage business for takeout and delivery services.
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The market for cup carriers is expanding as a result of rising consumer demands for convenience and on-the-go consumption. The need for cup carriers has grown as a result of the development in fast food and quick service restaurants as well as the popularity of home delivery services. The need for cup carriers has increased as a result of the expanding use of throwaway cups and containers.
Based on material, use, and end-user, the cup carriers market can be divided. The market can be divided into segments according on material, such as paper, plastic, and others. The most popular sort of cup carrier is made of plastic because it is both lightweight and strong. On the other hand, paper cup carriers, which are more eco-friendly, are frequently used for hot beverages.
The cup carriers market can be divided into food service, automobile, and other applications based on use. Cup carriers are frequently used in fast food and quick service restaurants for takeaway and delivery services, making the food service industry the largest application segment. Due to the rising use of cup carriers in cars and other vehicles, the automotive sector is also anticipated to expand significantly throughout the projected period.
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Based on end-user, the cup carriers market can be segmented into commercial and residential. The commercial segment is the largest end-user segment, as cup carriers are widely used in the food and beverage industry. The residential segment is also expected to grow at a significant rate during the forecast period, as more and more people are opting for home delivery services.
In conclusion, the cup carriers market is expected to grow at a significant rate during the forecast period due to the increasing demand for convenience and on-the-go consumption. The growing use of disposable cups and containers, as well as the rising popularity of home delivery services, is also expected to drive the growth of the market. The key players operating in the market are focusing on strategic collaborations and partnerships to expand their market presence.
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Global Cup Carriers Market by Category
Material:
- Plastic
- Paper
- Wood
- Molded Pulp
Carrying Capacity:
- Single Cup
- 02 Cups to 04 Cups
- Above 4 Cups
End Use:
- Foodservice
- Quick Service Restaurant
- Hotels
- Restaurants
- Cafes
- Others
- Institutional
- Household
Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa
- Oceania
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