The global sales of drink carrier poly bags are estimated to be worth USD 260.5 million in 2021 and are anticipated to reach a value of USD 387.6 million by 2031. Sales are projected to rise at a CAGR of 4.1% over the forecast period between 2021 and 2031. The revenue generated by drink carrier poly bags in 2020 was USD 250 million.
Rising preferences of on the go beverages including coffee, soft drinks, speciality drinks, and other beverages is fueling the demand for convenient and portable packaging solutions. This is driving the drink carrier poly bag demand. The increasing demand for food delivery and takeout services is significantly increasing the demand for drink carrier poly bags in upcoming decade.
Increasing adoption of restaurants and cafes adopting the bags to ensure spill proof and secured delivery of beverages. Global beverage industry is expanding due to rising consumption of coffee, tea, soft drinks, and alcoholic beverages which fuels the drink carrier poly bags demand.
The growing demand for eco-friendly drink carrier poly bags is seen as consumers and business are becoming eco conscious. As a result, the market players are innovating and investing in recyclable and biodegradable materials which aligns with sustainability trends and attract more consumers.
Global Drink Carrier Poly Bags Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2020 | USD 250 million |
| Estimated Size, 2021 | USD 260.5 million |
| Projected Size, 2031 | USD 387.6 million |
| Value-based CAGR (2021 to 2031) | 4.1 % |
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Drink carrier poly bags are used to carry the beverage cups or glass while delivering the product to the customers to ensure and avoid the spillover of the product. The beverage cups or glasses can be easily carried using the drink carrier poly bags and is convenient to use. With the help of drink carrier poly bags, more than one drink cup or glass can behold or be delivered.
The drink carrier poly bags are preferred by hotels & restaurants, retail shops, and other food & beverage providers.
These poly bags are cost-effective as well as are easy to use, recyclable, reusable, durable, and others which makes them popular among the various end-users. Overall, on the back of these factors, the future market outlook for the drink carrier poly bags is anticipated to rise during the forecasted period.
The increasing online food & beverage deliveries is the major factor supplementing the sales of drink carrier poly bags as these poly bags are best suitable for carrying the beverage cups or glass without worrying about the product been spilt out.
The drink carrier poly bags can be reused or recycled which supports the sustainability concern, this fuels the demand for the drink carrier poly bags among the end-users. The increasing preference for convenient as well as easy packaging solutions among the various food & beverage providers increases the demand for drink carrier poly bags.
These bags also help in increasing brand value as it can be customized or printed as per the requirement. The expanding and increasing food outlets also fuel the demand for drink carrier poly bags. Considering, all the factors the demand for drink carrier poly bags is anticipated to propel during the forecasted period.
Principal Consultant
The customer nowadays prefers to take away the food & beverage from the hotels or cafes or restaurants or others to save time and to have food relaxing at home. These increasing preferences for takeaways bolster the demand for drink carrier poly bags as beverage cups or glass are been packed in these poly bags for convenient carriage.
Also, the COVID-19 pandemic gave rise to online food deliveries which again fuels the demand for drink carrier poly bags. The increasing preference for takeaways or online food & beverage deliveries is anticipated to create market growth opportunities for the drink carrier poly bags.
The availability of substitutes such as paper-based carriers and others are anticipated to hamper the market growth for drink carrier poly bags. Also, the government regulation towards the usage of plastic limits the market growth for the drink carrier poly bags up to some extent. The changing prices of raw materials along with their availability hinder the growth of the drink carrier poly bags market.
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The global key players for the drink carrier poly bags are
Some Asian players include Rishaba Poly Product, Narendra Plastic, and others.
The key players in drink carrier poly bags are trying to focus on mergers & acquisitions to expand their product portfolio along with increasing their market reach.
The increasing preference for takeaways or home deliveries to ensure work-life balance and to manage time in the United States is anticipated to fuel the demand for drink carrier poly bags. The customer to save their time and to enjoy the outside food prefer takeaways which augment the sales of drink carrier poly bags in the United States.
According to the National Restaurant Association of India (NRAI), in 2018 to 2019 the Indian foodservice industry reached around USD 56.4 Billion and is expected to expand at a CAGR of 9% by 2022 to 2023.
The expanding foodservice industry in India is anticipated to create market growth opportunities for the drink carrier poly bags as these bags are used majorly by the foodservice industry to offer drink cups or glasses for takeaways or deliveries.
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis and Forecast 6.1. Material 6.2. Capacity 6.3. End Users 7. Global Market Analysis and Forecast, By Material 7.1. PE 7.1.1. HDPE 7.1.2. LDPE 7.1.3. LLDPE 7.2. PP 7.3. PET 7.4. Others 8. Global Market Analysis and Forecast, By Capacity 8.1. One Drink Carrier 8.2. Two Drink Carrier 9. Global Market Analysis and Forecast, By End Users 9.1. Retail Stores 9.2. Hotels & Restaurants 9.3. Shopping Malls 9.4. Others 10. Global Market Analysis and Forecast, By Region 10.1. North America 10.2. Latin America 10.3. Europe 10.4. South Asia 10.5. East Asia 10.6. Middle East & Africa 10.7. Oceania 11. North America Sales Analysis and Forecast, by Key Segments and Countries 12. Latin America Sales Analysis and Forecast, by Key Segments and Countries 13. Europe Sales Analysis and Forecast, by Key Segments and Countries 14. South Asia Sales Analysis and Forecast, by Key Segments and Countries 15. East Asia Sales Analysis and Forecast, by Key Segments and Countries 16. Middle East & Africa Sales Analysis and Forecast, by Key Segments and Countries 17. Oceania Sales Analysis and Forecast, by Key Segments and Countries 18. Sales Forecast by Material, Capacity, and End Users for 30 Countries 19. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 20. Company Profile 20.1. A-Pac Manufacturing Co. Inc. 20.2. Trioworld Group 20.3. Rutan Poly Industries Inc. 20.4. Novolex and others.
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Drink Carrier Poly Bags Market
