Cup Carriers Market

Cup Carriers  Market Size Analysis

According to a recent survey conducted by ChemView Consulting, the Global Cup Carriers Market grew at a CAGR of 4.7% between 2017-2021 and is estimated to be US$ 473.5 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 5.2 % and is expected to reach a valuation of US$ 786.1 Mn by 2032 end.

Throughout the projected period, Given their many advantages, cup carriers will become more and more popular in food service, institutional use, and household use.

Market Dynamic

BOOMING ONLINE-FOOD DELIVERY DRIVES THE MARKET FOR CUP CARRIERS

Cup carriers are a good solution for the delivery of liquids 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. Nowadays, the government and end users are very conscious of the environment. End users are now preferring more eco-friendly products than traditional ones. Cup carriers made of wood, paper, and molded pulp have created sustainable growth opportunities.

THE RISE IN RECYCLED PAPER CUPS WILL CREATE MORE OPPORTUNITIES FOR THE MARKET

Paper cup carriers are made from the most sustainable, earth-friendly material that can be recycled and reused, making it an optimal packaging choice. The paper cup carriers do not contain any BPA or Phthalates. Paper cup carriers are a great choice for cafes, restaurants, offices, and other venues that serve beverages such as coffee, juices, and more.

COVID-19 Impact

The coronavirus outbreak has significantly affected the expansion of online food applications. In several projects, the installation of Cup Carriers declined in 2021. Additionally, the worldwide closure of production facilities in 2020’s first and second quarters is to blame for slowing the market’s expansion. However, it is anticipated that the adoption of Online food ordering and, therefore, the Cup Carriers will expand due to the growing installation of Cup Carriers systems in operational projects.

Market Segments Covered in Report

By Material:

• Plastic
• Paper
• Wood
• Molded Pulp

By Carrying Capacity:

• Single Cup
• 02 Cups to 04 Cups
• Above 4 Cups

By End Use:

• Foodservice
  • Quick Service Restaurant
  • Hotels
  • Restaurants
  • Cafes
  • Others
• Institutional
• Household

By Region and Country:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

Why are Molded Fiber Cups projected to ensure the most revenue during the forecast period?

Molded fiber cup carriers are the second most preferred packaging materials, accounting for 36.5% of the total market share, with sales growing at 4.6% CAGR over the forecast period. In addition to being sustainable and biodegradable, these products are cost-competitive and water-resistant, making them applicable in a wide range of applications.

A strict focus on environmental sustainability and an overall cost-competitive approach to product delivery are the main factors contributing to this high usage.

Why is the Foodservice Sector segment expected to expand the fastest during the forecast period?

In 2021, The food service industry was one of the major segments contributing significantly to this sector. Food service providers can offer new and innovative ways to serve brands effectively and efficiently. Besides, this will also help them attract more people to their establishments.

The increased adoption of cup carriers among these segments is the main reason behind its projected growth. Foodservice has developed with new outlets and takeaway systems, which benefits the cup carriers market.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

• In 2021, the Europe market held a sizeable revenue share of 35.6%. The German cup carriers market is expected to register a significant growth in demand due to the increasing food and beverage sector. Moreover, strong national retail sales will further add value to the market. The report also provides insight into key players expected to dominate this market by providing key aspects of their business strategy and product portfolio.
• The U.S. is the main driver of regional growth in North America, which has the second-largest proportion of the Cup Carriers market. Drinking culture has undergone significant changes and is now more socially accepted than ever before. Cup carriers are being used as a means of transportation for getting around in large cities. Cup carriers have been introduced due to the increase in population, especially in urban areas.

Competition Analysis

Major corporations are competitive due to many local and regional rivals. Key players employ various marketing strategies, including partnerships, expansions, mergers and acquisitions, and collaborations.

Some of the key developments that have taken place in the Cup Carriers  Market include:

• In March 2022, With the Huhtamaki Future SmartTM paper cup, which it developed, Huhtamaki made a huge effort to lessen environmental problems. The first paper cup is 100% renewable and created from plants.
• In May 2021, To divert 31 million plastic containers, WestRock Company recently announced a partnership with Recipe Unlimited for better recyclable paperboard packaging.

A list of some of the key suppliers present in the market are:

• 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 and Highlights

• Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
• Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
• The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
• Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
• Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
• Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
• Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
• Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
• Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
• Strategic market analysis, recommendations, and future headways on crucial winning strategies.