According to Future Market Insights research, during the projected period, the global plastic tumblers market is predicted to reach US$ 49.5 Million in 2023, and further expand at a CAGR of 4.8% to reach US$ 79.1 Million by the year 2033. The plastic tumblers market is anticipated to bolster with the top 5 companies estimated to hold around 15-20% of the market by the end of 2022.
In the plastic tumblers market, 10 Oz to 20 Oz is projected to hold approximately 70% of the market value share by the end of 2033. The reason behind the same is the high preference for ideal capacity tumblers from consumers for plastic tumblers by various end-use industries.
| Attributes | Details |
|---|---|
| Market Size 2023 | US$ 49.5 Million |
| Market Size 2033 | US$ 79.1 Million |
| Value CAGR (2023 to 2033) | 4.8% |
| Collective Value Share: Top 3 Countries (2023E) | 25 to 30% |
According to the FMI analysis, the plastic tumblers market revenue totaled US$ 47.3 Million in 2022. With the propelling demand from the various end-users, the global plastic tumblers market is projected to reach US$ 79.1 Million by 2033, accelerating at a CAGR of 4.8% during the forecast period.
The plastic tumblers market is estimated to experience a positive growth outlook during the forecast period. A new forecast by FMI anticipates that plastic tumblers sales will rise from 2023 to 2033 and is projected to create an absolute incremental growth opportunity of US$ 31.8 Million.
The significantly changing beverage industry amid the pandemic has increased the demand for plastic tumblers. The plastic tumblers market is anticipated to expand 1.7 times the current market value during the forecast period.
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The global plastic tumblers market witnessed a CAGR of 4.5% during the historic period with a market value of US$ 47.3 Million in 2022.
Plastic tumblers are one of the highly preferred consumer goods in the market now a day. Tumblers reduce the possibility of spillage and have various advantages over conventional cups. Consumers are moving towards convenient products with the changing lifestyle. Manufacturers come up with various innovations in tumblers such as vacuum tumblers with double wall which allows consumers to keep their beverage hot or cold for an extended period of time. The beverages industry is focusing on protective packaging solutions for storage concerns, and plastic tumblers are seemed to be one of the prominent packaging solutions. Plastic tumblers can be Stacked and transported easily. It is an economical solution in the long term run. Plastic tumblers are safe for hot and cold drink containers. The plastic tumblers market is strengthened by the strong demand received from the various end-users. The changed preference of the customers for packaging has affected the overall growth graph of the plastic tumblers market.
The increasing awareness regarding the benefits of using reusable products among consumers of young age groups has been a key factor for the growth in preference for products such as plastic tumblers. To engage specific consumer groups, key players in the market use the ‘reusable’ tag, to increase product appeal as well as sales. Phrases such as “Save the earth” are printed on tumblers and are very popular among manufacturers. Furthermore, the landfill problems associated with disposable cups have created lucrative opportunities for a major shift in preference for reusable products.
Currently, branding and advertising are things that go hand in hand. Companies are demanding packaging solutions or such storage containers which depict their brand on its outer layer. The branding concept brought plastic tumblers into the limelight. As an effective packaging solution along with branding and advertising features attached to it, plastic tumblers are becoming the preferred choice for the beverage industry. The features of the plastic tumblers meet up with current market trends creating a huge customer base for the product.
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The covid-19 affected the global market negatively. The global economy slowed down and industries have faced negative sales amid lockdown situations. The packaging industry parallel to the manufacturing industry also faced a downfall in demand. Plastic tumblers sales dropped by huge margins amid negative demand and the market faced backlash during the pandemic period.
Later, the situation normalized. Overall global markets started reacting positively to new trends after the covid outbreak. Manufacturing industries started receiving steady demand, and businesses got back on track. The packaging industry also started receiving altered demands after the pandemic hit the global market. The plastic tumblers market adjusted its position with pre-covid levels and hit new highs with strong demands and preference given to the packaging solution.
Based on the material segment, the polypropylene material segment holds the major portion of the global Plastic tumblers market. The targeted segment is projected to hold around 29% of the market share by the end of 2033.
Polypropylene material is used for tumblers, as it is a lightweight protective packaging material. Polypropylene is durable and easily recyclable. Thus, the benefits such as efficiency, low cost, biodegradability, and recyclability drive the global Plastic tumblers market.
Based on the capacity segment, the 10 Oz to 20 Oz capacity segment holds the major portion of the global plastic tumblers market. The 10oz to 20oz capacity segment is projected to expand at a CAGR of 3.9% during the forecast period.
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The UK is expected to hold around 82% of the European plastic tumblers market by the end of the forecast period. According to Food & Drink Federation, the food and drink sector are the largest sector in the United Kingdom and contributes more other than any industry. The export of food and drink is approximately US$ 20 Billion.
The key players which are operating in the market are focusing on expansion and innovation. All of them are trying to capture a large market share. Big companies are focusing on USPs to increase sales. Companies are trying to provide good logistics facilities also to attract a mass customer base.
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4.8% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Million, Volume in Units, and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Material, Capacity, End Users, Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Middle East and Africa (MEA); Oceania |
| Key Countries Covered | The USA, Canada, Mexico, Brazil, Germany, The UK, France, Italy, Spain, Russia, China, Japan, India, GCC countries, Australia |
| Key Companies Profiled | Tupperware Brands Corporation; Milton Corporation; CUP CONCEPT Mehrwegsysteme GmbH; CamelBak Products, LLC; Tupperware Brand Corporation; Regalzone; Evans Manufacturing, Inc; Ee-Lian Enterprise (M) Sdn. Bhd; Rainbow Cups; Nature Packwell Pvt. Ltd.; Bubbles Plastics; Dynasty Products Private Ltd; Lock & Lock Co |
| Customization & Pricing | Available upon Request |
In 2022, the value of the global plastic tumblers market was US$ 47.3 Million.
During the forecast period, the global plastic tumblers market is anticipated to expand at a CAGR of 4.8%.
The global plastic tumblers market is expected to reach US$ 79.1 Million by the end of 2033.
During the forecast period, polypropylene is likely to be the fastest-growing material segment in the global plastic tumblers market.
The increasing awareness regarding the benefits of using reusable products drives the plastic tumblers market.
As per the FMI analysis, the Indian plastic tumblers market is projected to expand at a CAGR of 5.2% from 2023 to 2032.
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