The global plastic tumblers market is anticipated to reach US$ 49.5 million in 2023 and continue to grow at a CAGR of 4.8% to reach US$ 79.1 million by the year 2033, according to Future Market Insights research. By the end of 2022, the top 5 players are predicted to control between 15% and 20% of the global plastic tumbler market.
By the end of 2033, it is anticipated that the 10 Oz to 20 Oz segment will account for around 70% of the market value. This is due to consumers’ strong preference for plastic tumblers with optimum capacities across a range of end-use sectors.
The report conducts in-depth analysis into factors causing the change in consumer behavior and purchasing patterns. It also provides refined sales projections to assist market players in identifying remunerative segments.
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Advent of Sustainable and Intelligent Packaging Solution Skyrocketing the Demand for Plastic Tumblers
With rising environmental concerns and implementation of stringent regulations regarding the use of plastic across the U.S., China, India, the U.K., Germany, and others, a substantial rise in the adoption of sustainable packaging solutions is experienced across various end use industries.
In accordance to this, numerous packaging companies are shifting their focusing of manufacturing sustainable packaging using 100% recycled plastics, biodegradable plastics, and plastic alternatives such as paper. Hence, introduction of novel sustainable packaging solutions is expected to create lucrative demand opportunities in the market.
Also, emergence of intelligent packaging with the integration of artificial intelligence (AI), internet of things (IoT), and data science have improved the demand for Plastic Tumblers market. Hence, key players are incorporating novel technologies such as AI and IoT to increase their revenues, propelling the sales.
Key Plastic Tumblers Market Takeaways and Projections
- The U.S. is expected to lead the North America Plastic Tumblers market, projecting the fastest growth in the region between 2023 and 2033
- Germany and the U.K. are expected to, collectively, hold the largest share in the Europe market over the assessment period.
- China will dominate the East Asia market, accounting for the largest demand share during the forecast period.
- India is expected to emerge as a highly remunerative market in South Asia, contributing the significant revenue share in the region through 2033.
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Report Benefits & Key Questions Answered
- Plastic Tumblers Historical Market Analysis: The detailed survey by FMI, examines key factors in the Plastic Tumblers market that affected the growth in the market for the last assessment period 2016-2020 and also studies their consequent impact. It also provide refined the sales projection of the Plastic Tumblers market for the forecast period 2023-2033.
- Plastic Tumblers Demand Outlook Analysis: Future Market Insight’s (FMI’s) exhaustive study provides crucial insights into key drivers and upcoming opportunities driving the demand for Plastic Tumblers for the assessment period. As per the study, the demand for Plastic Tumblers will grow at a robust CAGR between 2023 and 2033.
- Plastic Tumblers Market Trend Analysis: The latest study by FMI on the Plastic Tumblers market offers compelling insights into key expansion strategies adopted by top-tier players with respect to current trends. It discloses details regarding upcoming trends in the packaging industry to assist market players in constructing an effective strategy to capitalize on them.
Competitive Landscape Analysis
The market survey conducted by FMI offers key trends and challenges in the packaging industry and its consequent impact of Plastic Tumblers market. The survey provides a thorough market share analysis to offer an in-depth analysis of prevailing competition.
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Plastic Tumblers Market by Category
By Material, Plastic Tumblers Market is Segmented as:
- Polyethylene (PE)
- Polypropylene (PP)
- Polystyrene (PS)
- Polyethylene Terephthalate (PET)
- Polylactic Acid (PLA)
By Capacity, Plastic Tumblers Market is Segmented as:
- Less than 10 Oz
- 10 Oz to 20 Oz
- Above 20 Oz
By End Users, Plastic Tumblers Market is Segmented as:
- Commercial
- Institutional
- Household
By Region, Plastic Tumblers Market is Segmented as:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa (MEA)
- Oceania
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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