The global cup carriers market is estimated to secure a valuation of USD 337.6 million in 2023 and is predicted 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.
Molded pulp is made from recycled paperboard and newspapers. It is also considered a sustainable packaging material. Molded pulp and paper cup carriers are non-toxic and 100% recyclable. Plastic cup carriers offer better strength against heavy loads, eliminating the risk of product loss and being more protective.
Paper and wood are better options for environmental conservation as they are more eco-friendly. Attributing the paper segment is expected to lead in the global market during the forecast period.
The United States market is expected to witness an incremental growth of 1.7x during the forecast period. Across North America, total sales of cup carriers are estimated to reach USD 95.5 Million by 2022.
| Attribute | Details |
|---|---|
| Market CAGR (2023 to 2033) | 5.2% |
| Market Valuation (2023) | USD 337.6 million |
| Market Valuation (2033) | USD 560.5 million |
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Cup Carriers are Actively Being Used for Online Food Delivery Services
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.
The government and end users are very conscious of the environment. End users are now preferring products that are more eco-friendly as compared to traditional products. Cup carriers made up of materials like wood, paper, and molded pulp have created sustainable growth opportunities.
Several factors may decline the market growth. A few factors are as follows:
Cost: The growing cost of premium materials, manufacturing, distributing, and transporting costs may decline the market growth. The end-use companies are buying these products at particular and affordable prices.
Competition: The growing competition by the number of suppliers, manufacturers, and key companies is relatively high. Established strong players and distributors are disadvantages for new market entrants.
Shift Consumers Preferences: Consumers change their preferences, significantly impacting global market growth. For instance, reusable or recyclable cups may decline the demand for cup carriers.
These are a few of the restraining factors that may decline the market growth.
Principal Consultant
According to Future Market Insights, the sales of the cup carriers are forecast to increase at a 5.2% CAGR over the assessment period, compared to the 3.8% CAGR registered between 2018 to 2022. The market is estimated to capture a valuation of USD 276 million in 2018 and USD 320.9 million in 2022.
Looking at the numerous benefits of cup carriers, demand for cup carriers in the industries such as food service, institutional, and household is estimated to increase. To cater to this, manufacturers are growing cup carriers' production capabilities and trying to innovate their products.
Cup carriers, manufactured using materials like paper, wood, and molded pulp, are recyclable and eco-friendly. In addition, plastic cup carriers are suitable in quality and can handle a good amount of weight. Furthermore, producers are also innovating their products to make them sustainable, which are both ecologically friendly and long-lasting, resulting in a lower carbon footprint.
Demand for Molded Fiber Cups to Remain High
Based on material type, the molded fiber cup carriers segment is estimated to account for 38.5% of the total market share, with sales growing at a 4.6% CAGR over the forecast period. One of the main factors contributing to its high usage is the products' highly biodegradable and reliable protection. Additionally, molded fiber cup carriers are cost-competitive, water-resistant, and unaffected by extreme temperatures, which improves their applicability.
Sales of Cup Carries in the Foodservice Sector Gain Huge Traction
Foodservice, institutional, and household are among the industries that use cup carriers. However, in 2032, the food service application sector is anticipated to account for the lion's market share.
Expansion in the food service sector is expected to boost the entire market by more than 300 basis points in the forthcoming years. Foodservice has developed a lot with new business outlets and takeaway systems, which benefits the cup carriers market.
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| Countries | Forecast Share Between 2023 to 2033 |
|---|---|
| United States | 27.1% |
| Germany | 7.5% |
| Japan | 3.4% |
| Australia | 1.3% |
| Countries | Forecast CAGR Between 2023 to 2033 |
|---|---|
| China | 6% |
| India | 6.3% |
| United Kingdom | 2.4% |
Manufacturers in Germany are Preferring Cardboard Cup Holders
According to the Germany Trade & Invest (GTAI), like several business sectors worldwide, the pandemic impacted the food and beverage market highly. However, growing national retail sales helped in the recovery. There was significant growth in food retailing revenue by around 8%, reaching USD 250.2 Billion in the year 2020. In the German market, more than seventy thousand-food products are available to customers.
The demand for cup carriers is expected to increase due to significant growth in the food and beverage sector. As per the report, the German cup carriers market is estimated to create an incremental opportunity of USD 17.2 million with a share of 7.5% by the end of 2033.
High Demand for Reusable Cup Carriers in China is Estimated to Fuel Growth
As per FMI, sales of cup carriers in China increased at a 3.5% CAGR during the historical period 2015-2021 and are expected to grow at a 6% CAGR over the forecast period.
According to the World Health Organization (WHO), in 2019, alcohol consumption per capita was around 6.04 liters in China. The demand for cup carriers is expected to increase due to high production and consumption rates of alcohol and other beverages.
Manufacturers can expand the global market through various strategies and approaches. These are as follows:
Product Innovation: Manufacturers innovate advanced and better design cup carriers adding unique features. They provide customized, eco-friendly, spill-proof mechanism and insulation materials products to attract customers.
Marketing and Advertising: Manufacturing is reaching more relevant customers by advertising and marketing its brand. They are targeting relevant audiences by creating awareness and benefits of cup carriers. These manufacturers utilize various platforms to generate interest among people, such as social media, television, print media, online marketing, and others.
Collaborations with Beverage Companies: The manufacturers are smartly collaborating with beverages and liquor companies to enhance their sales volume. They collaborate with famous brands and initiative campaigns to expand the global market.
Distribution Channels: Manufacturers can expand their market with the availability of cup carriers. These manufacturers are partnering with distributors to easily access relevant customers. They are collaborating with online retailers, offline retailers, coffee shops, convenience chains, and food delivery partners to expand the global market.
Customization: The manufacturers provide customized products by adding logos, designs, preferred colors, and shapes. The particular business and companies are promoting their products and brand in events. These services attract consumers to expand the global market share.
Eco-friendly Initiatives: The manufacturers are promoting sustainability by developing eco-friendly cup carriers. They are offering biodegradable products by promoting recyclable options to protect the environment.
Geographical Expansion: Manufacturers reach nearby locations and expand their business globally. They research, identify, and adopt various marketing tactics and invest their amount in research activities to facilitate expansion successfully. They are reaching international distributors to reach more audiences globally.
These are a few tactics manufacturers can use to expand the global market. Their dynamic strategies, innovations, and consumer needs can expand the market size globally.
The present number of essential players worldwide highly fragments the market. These players significantly drive the global market through various marketing tactics. Key players invest heavily in research and development activities to develop unique and improved products by adopting advanced technologies.
These players offer advanced products per consumers' requirements to capture their attention. Since there are so many local and regional competitors, the global cup carriers market is competitive. Key players use various marketing techniques, including mergers & acquisitions, expansions, collaborations, and partnerships.
Leading organizations 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.
Other Key Players in the Global Market are:
Recent Developments in the Global Market are:
| Attribute | Details |
|---|---|
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD billion for Value |
| Key Countries Covered | United States, United Kingdom, Japan, India, China, Australia, Germany |
| Key Segments Covered | Type, Application, Region |
| 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; CELLULOPACK SAS; Cascades inc; MULTI-WAYS PACKAGING; Colpac Ltd; Dreamfly Packaging Co., Ltd; Detmold Group |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The market exhibited a CAGR of 3.8% from 2018 to 2022.
The market is forecast to register a CAGR of 5.2% through 2033.
Online food delivery fuels the cup carrier market.
Germany is expected to expand at a CAGR of 7.5% by 2033.
The molded fiber cup carriers segment is estimated to remain high.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material 5.1. Plastic 5.2. Paper 5.3. Wood 5.4. Molded Pulp 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Carrying Capacity 6.1. Single Cup 6.2. 02 Cups to 04 Cups 6.3. Above 4 Cups 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use 7.1. Foodservice 7.1.1. Quick Service Restaurant 7.1.2. Hotels 7.1.3. Restaurants 7.1.4. Cafes 7.1.5. Others 7.2. Institutional 7.3. Household 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. MULTIPAP 18.2. Green Paper Products, LLC 18.3. Huhtamäki Oyj 18.4. Georgia-Pacific Consumer Products LP 18.5. Sabert Corporation 18.6. Pactiv LLC 18.7. Southern Champion Tray, LP 18.8. Graphic Packaging International, LLC 18.9. PakTech 18.10. WestRock Company 18.11. CELLULOPACK SAS 18.12. Cascades inc 18.13. MULTI-WAYS PACKAGING 18.14. Colpac Ltd 18.15. Dreamfly Packaging Co., Ltd 18.16. Detmold Group 19. Assumptions & Acronyms Used 20. Research Methodology
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Cup Carriers Market
