The demand for cup carriers is expected to remain robust, with paper as a key material choice due to its recyclability and biodegradability. This eco-conscious approach is in line with the growing consumer and industry awareness of the importance of sustainable packaging options. In this context, paper cup carriers are poised to be at the forefront of the market’s development.
The global cup carriers market is on a path of substantial growth, with a projected valuation of US$ 337.6 million in 2023, and it’s expected to exceed US$ 560.5 million by 2033. This growth trajectory reflects a steady compound annual growth rate (CAGR) of 5.2% during the forecast period.
Molded pulp, crafted from recycled paperboard and newspapers, stands as an exemplar of sustainable packaging materials. Notably, molded pulp and paper cup carriers are both non-toxic and entirely recyclable. In contrast, plastic cup carriers, with their superior load-bearing capabilities, mitigate the risk of product damage and provide enhanced protection, especially when dealing with heavier loads.
Environmental considerations have become a prominent factor driving market growth, with an emphasis on eco-friendly materials. Among these materials, the paper segment is expected to take the lead in the global market during the forecast period. This preference for paper aligns with the global push for sustainability and the adoption of eco-friendly packaging solutions.
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Market Drivers
- Increasing Trend of Takeaway and Food Delivery Services:
- The rise in the popularity of takeaway and food delivery services, especially in urban areas, has driven the demand for cup carriers. Consumers prefer the convenience of ordering food and beverages for delivery, contributing to the market growth.
- Growth in Coffee Culture and Specialty Beverages:
- The global growth of coffee culture and the popularity of specialty beverages, such as gourmet coffees and iced drinks, have led to a surge in the demand for cup carriers. These carriers provide a convenient way to transport multiple cups without spills.
- Rise in On-the-Go Lifestyles:
- Busy lifestyles and an increasing preference for on-the-go consumption contribute to the demand for cup carriers. Consumers seek portable and easy-to-carry solutions for their beverages, driving the market for convenient cup packaging.
- Emphasis on Sustainability:
- The growing emphasis on sustainability and eco-friendly packaging solutions has influenced the cup carriers market. Manufacturers are developing carriers made from recyclable and compostable materials to align with consumer preferences for environmentally responsible options.
- Expanding Quick-Service Restaurants (QSR) and Cafes:
- The expansion of quick-service restaurants (QSR), cafes, and other foodservice establishments has boosted the demand for cup carriers. These establishments often utilize cup carriers for bulk orders and to enhance the customer experience.
Growth Factors
The growth of the beverage market and the increasing popularity of online food delivery services are poised to be significant drivers for the sales of cup carriers. With the surge in online food delivery, there is a growing demand for effective and secure ways to transport beverages, and cup carriers offer a practical solution. These carriers come in various sizes and can accommodate a range of liquid products.
Moreover, cup carriers made from eco-friendly materials such as paper, wood, and molded pulp align with the current environmental consciousness. Customers and suppliers are increasingly opting for sustainable and renewable packaging options. This shift is driven by both environmental concerns and government regulations that encourage the use of eco-friendly materials. Cup carriers made from these materials have opened up sustainable growth opportunities in the market as they cater to the rising demand for eco-conscious packaging solutions.
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Key Players
- MULTIPAP
- Green Paper Products, LLC
- Huhtamäki Oyj
- Georgia-Pacific Consumer Products LP
- Sabert Corporation
- Pactiv LLC
- Southern Champion Tray, LP
- Graphic Packaging International, LLC
- PakTech
- WestRock Company
- CELLULOPACK SAS
- Cascades inc
- MULTI-WAYS PACKAGING
- Colpac Ltd
- Dreamfly Packaging Co., Ltd
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
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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