The global cup carriers market is estimated to capture a valuation of USD 337.6 million in 2023 and is projected to surpass a valuation of USD 560.5 million by 2033. The market is anticipated to rise at a CAGR of 5.2% during the forecast period.
The ongoing expansion in the beverage market and the trend of online delivery services are expected to boost sales of cup carriers. The movement of online food delivery has increased after the pandemic and is likely to continue over the forecast period. Cup carriers are a good solution for delivering liquid substances and are available in various sizes and materials.
In addition, cup carriers made from paper, wood, and molded pulp are renewable, sustainable, and eco-friendly, making it easier for customers and suppliers to use them.
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These current industries are performing key roles to gain massive market growth. These sectors are estimated to secure maximum revenue in the market during the forecast period.
Key Takeaways:
- The cup carriers market is estimated to secure a CAGR of 5.2% with a valuation of USD 560.5 million by 2033.
- In the historical period, the market registered a CAGR of 3.8% with a valuation of USD 320.9 million in 2022.
- The food service sector dominates the global market by securing a massive share worldwide.
- The United States is dominating the global market by securing a share of 27.1% during the forecast period.
- Germany is capturing a share of 7.5% in the global market by 2033.
- China is estimated to capture a CAGR of 6% in the global market during the forecast period.
Competitive Landscape
The current number of key companies worldwide significantly divides the industry. These firms significantly influence the worldwide market through a variety of marketing strategies. Key players make significant investments in R&D to create innovative and enhanced products using cutting-edge technologies.
To attract the attention of consumers, these players offer advanced items that meet their needs. Because there are so many local and regional rivals, the worldwide cup carrier market is highly competitive. Key players employ a variety of marketing strategies, including mergers and acquisitions, expansions, collaborations, and partnerships.
Other Key Players in the Global Market are:
- 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
- Detmold Group
Recent Developments in the Global Market are:
- Huhtamaki came up with the Huhtamaki Future SmartTM paper cup, which is the first paper cup, which is 100% renewable, which is made from plants. Through this, it has significantly tried to reduce environmental issues.
- Recently, WestRock Company announced a partnership with Recipe Unlimited for better recyclable paperboard packaging, aiming to divert 31 million plastic containers.
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
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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