The cup carriers market is projected to experience significant growth in the coming years. With an expected increase in sales throughout the assessment period at a Compound Annual Growth Rate (CAGR) of 5.1%, the market is predicted to be worth US$528.5 million by 2032, compared to its valuation of US$320.9 million in 2022.
Cup carriers have gained popularity due to their versatility in terms of sizes and designs. They have become the preferred option for takeaway outlets such as restaurants and kiosk kitchens in various companies within the food and beverage industry.
Manufacturers and distributors are capitalizing on the demand by offering cup carriers with different brand designs, which not only serve as carriers but also contribute to branding efforts. Furthermore, there is a growing consumer awareness about the environment, leading to increased sales of cup carriers made from materials like paper, wood, and double-molded pulp.
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As consumers become more health and environmentally conscious, the market is shifting towards eco-friendly cup carriers that can fully degrade within a few days. This trend is being supported by the government and various organizations working to promote environmentally friendly practices.
Customers now prioritize cup carriers that are of high quality and have minimal negative impact on the environment. Paper and wood are expected to be the dominant materials driving the cup carriers market, while molded pulp, made from recycled paperboard or newspaper, serves as a sustainable packaging material that addresses growing environmental concerns.
“Increasing preference for eco-friendly and sustainable packaging solutions across various industries, along with expansion in the foodservice sector will drive sales in the market over the forecast period,” says an FMI analyst.
Key Takeaways:
- Sales of plastic cup carriers are expected to increase 5.1 times by 2032.
- The market share of 02 Cups to 04 Cups is expected to be 83% in 2032.
- As per end-use industry, foodservice is the leading segment representing prominent demand for cup carriers.
- The Germany cup carriers market is slated to create an incremental opportunity of US$ 17.2 Mn.
- Sales in the China cup carriers market will gain traction at a 5.9% CAGR over the forecast period.
- East Asia and South Asia are expected to lead the global cup carriers market through 2032.
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Competitive Landscape
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, Napco National, Detmold Group, and Judin Pack Group are some of the leading players operating in the global cup carriers market.
Global Cup Carriers Market Report
Future market insights, in its new report, offers an unbiased analysis of the global market for cup carriers market by material (plastic, paper, wood and molded pulp), by carrying capacity (single cup, 02 cups to 04 cups and above 04 cups), by end use (foodservice (quick service restaurant, hotels, restaurants, cafes and others), institutional, and household), across seven regions.
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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
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