The global cardboard flask market is anticipated to accumulate a market value of USD 1.3 billion in 2023 and is expected to record a market valuation of USD 2.7 billion by exhibiting a CAGR of 7.5% in the forecast period 2023 to 2033. The market for Cardboard flask market registered a CAGR of 3.9% in the historical period 2018 to 2022.
Availability and popularity of exotic flavors which need a different method of brewing tea than regular tea is time-consuming and unfeasible. Thus, for customers ordering these beverages from various outlets has increased, this is likely to propel the demand for cardboard flasks in the forthcoming period.
It was previously difficult to get freshly brewed beverage in hygienic condition with the convenience of doorstep delivery. Cardboard flasks, due to its insulation properties proves to be the right solution for online retail to cater the needs of the customer, hence driving the demand for these flasks.
Compared to its counterpart which is a conventional metal flask which were used by the brand owners to deliver beverages, the cardboard flask provides more advantages since its cuts down the cost of collecting and cleaning them. Therefore, this is likely to positively influence the growth of the cardboard flask market during the forecast period.
In various countries like in United States, United Kingdom, China, Japan and India, consuming hot beverage is more of a necessity than an occasion. The consumption of hot beverage at various intervals of the day is steadily rising. Furthermore, the millennial demand for tea or coffee has increased resulting in high consumption of these hot beverages and further leading to industry expansion.
The use of cassava packaging, which is a reusable packaging alternative that helps protect the environment is also supporting the market growth of cardboard flasks. Stringent rules imposed in place by the government on emissions, contribute to the preferred choice of end users for cassava based cardboard flask manufacturing from the key manufacturers.
As the demand for recyclable packaging is increasing, the growth of the market for cassava based cardboard flask packaging is also surging.
Rapid urbanization and evolving consumption habits contribute to the growth of door-step food service and take-out meals, which is expected to further expand the industry of cardboard flask packaging solutions.
In addition, the demand for cardboard flask is poised to grow shoulder to shoulder with the expansion of the beverage industry across the globe. Primarily, growth in the hot beverages market is likely to positively impact the growth of cardboard flask market during the forthcoming period.
Besides this, Cardboard flask has features such as reclosable cap, which widens their application for packaging which are more prone to spillage and leakage which reduces the wastage.
Urbanization and busy lifestyles with enhanced e-commerce might lead to growth in the cardboard flask market in North America. Due to these factors, the market in North America is anticipated to garner 31.5% market share during the forecast period.
Likewise, rising population in the emerging countries such as India, China and Japan, increasing income and growing food and beverage online delivery business are anticipated to boost the demand for cardboard flask in Asia Pacific. The market in Asia Pacific is expected to grow with fastest CAGR of 7.1% during the projected period.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | USD 1.3 billion |
| Projected Market Value in 2033 | USD 2.7 billion |
| Growth Rate (2023 to 2033) | 7.5% CAGR |
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Latest developments in technology, mergers, acquisitions, tie-ups, and partnerships within the companies involved in manufacturing Cardboard flask are expected to create lucrative opportunities for market growth during the forecast period.
Beverage industry which is growing continuously has led to developments and innovations in the cardboard flask market. Countries that have high consumption of tea and coffee such as the USA, United Kingdom, China, Japan & India might impact the demand for cardboard flask.
Cardboard flasks might not be predominant when it comes to the sale of these hot beverages in the brick and mortar store but E-commerce has hiked the demand for cardboard flask.
The convenience and ease of ordering the hot beverages at their workplace and homes with advent of digitalization in developing countries such as India and China is likely to augment the demand for the cardboard flask market.
Compared to its counterpart which is a traditional flask which were used by the brand owners to deliver the beverage to its customers, the cardboard flask provides more pros since its cuts down the cost of collecting and cleaning them. Thus, this is likely to positively impact the growth of the cardboard flask market.
Availability of exotic flavours which need a different method of brewing tea than the regular tea is time consuming and unfeasible. Therefore, for customers ordering these beverages from various outlets has increased, this is likely to trigger the demand for cardboard flasks.
It is difficult to get freshly brewed beverage in hygienic condition with the convenience of sitting at home or office. Cardboard flasks, attributing to its insulation properties tends to be the right solution for online retail to cater the needs of the customers.
In various countries such as the USA, United Kingdom, China, Japan and India, having hot beverage is more of a necessity than an occasion. The consumption of hot beverage at various intervals of the day is continuously growing. In addition, the millennial demand for tea or coffee has splurged resulting in high consumption of these hot beverages.
The usage of these containers for the brand owners as well as the customers is easy, convenient, hassle free and spill free. Since, it has a spouted cap and is reseal able which enables it to be used several times as per the customer’s preferences. This is likely to enhance the growth of the cardboard flasks, in the years to come.
The demand for cardboard flask is poised to grow in sync with the growth of the beverage industry across the globe. Primarily growth in the hot beverages market is likely to positively impact the growth of cardboard flask market.
Moreover, Cardboard flask has attributes such as reclosable which widens their application for packaging which are prone to spillage and leakage which reduces the wastage.
Urbanization and busy lifestyles with enhanced e-commerce might lead to growth in the cardboard flask market. In addition, growing population in the emerging countries such as India, China & Japan, growing income and increased food & beverage online delivery business are anticipated to boost the demand for cardboard flask market during the forecast period of 2019-2029.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on cement packaging market segments and geographies.
Cardboard Flask Market can be segmented on the basis of capacity, printability, product type & end-use.
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