The market for cup carriers 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. In 2021, the market for moulded fibre cup carriers generated US$ 118.3 Mn in sales. With the top 5 suppliers controlling 10-15% of the market for cup carriers by 2022, demand for moulded fibre cup carriers will increase.
Newspapers and recycled paperboard are used to create moulded pulp. It is regarded as a sustainable packaging material as well. Molded pulp and paper cup carriers are 100 percent recyclable and non-toxic. Plastic cup carriers are stronger under heavy loads, reducing the possibility of product loss and providing greater protection.
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Competitive Landscape
Since there are so many local and regional competitors, the global cup carriers market is competitive. Key players use a variety of marketing techniques, including mergers & acquisitions, expansions, collaborations, and partnerships.
Leading organisations also use new product creation as a strategic way to improve their presence in the market. Advanced cup carriers have been incorporated as a result of these strategies.
Key Companies Profiled
- 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
2015-2021 Cup Carriers Market Historic Outlook Vs 2022-2032 Forecast
According to Future Market Insights, the sales of cup carriers market are forecast to increase at a 5.1% CAGR over the assessment period, in comparison to the 3.8% CAGR registered between 2015 to 2021. Looking at the numerous benefits of cup carriers, demand for cup carriers in the industries such as foodservice, institutional, and household will increase. To cater this, manufacturers are increasing the production capabilities of cup carriers and are also trying to innovate their products.
Cup carriers, which are manufactured using materials like paper, wood, and molded pulp, are recyclable and eco-friendly. In addition, plastic cup carriers are good in quality and can handle a good amount of weight. Furthermore, producers are also innovating their products for making them sustainable that are both ecologically friendly and long lasting, resulting in lower carbon footprint.
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What Is the Global Cup Carriers Market Driving Force?
“Online Food Delivery Services Actively Utilize Cup Carriers”
Sales of cup carriers are anticipated to increase due to the continued growth of the beverage business and the popularity of online delivery services. Following the epidemic, there has been an uptick in this tendency, which is anticipated to last throughout the prediction period. Cup carriers, which come in a variety of sizes and materials, are a useful option for the transfer of liquid substances.
Additionally eco-friendly, renewable, and reusable, cup carriers made of paper, wood, and moulded pulp make it simpler for customers and suppliers to use them.
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
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
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About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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