The cup carriers market is expected to reach a value of US$ 320.9 million in 2022, and it is projected to grow significantly to US$ 528.5 million by 2032, with a compound annual growth rate (CAGR) of 5.1% throughout the assessment period.
Cup carriers have gained popularity due to their diverse range of sizes and designs. They are widely employed in the food and beverage industry, particularly by takeaway outlets like restaurants and kiosk kitchens. Manufacturers and distributors offer cup carriers with various brand designs, which not only serve as carriers but also aid in branding efforts.
There is a growing awareness among consumers about environmental issues, leading to an increased preference for eco-friendly cup carriers. Materials such as paper, wood, and double-molded pulp are witnessing better sales as they are perceived as more environmentally friendly options. Eco-friendly cup carriers, which can fully degrade within a short period, are expected to dominate the market in the near future. Various government and non-governmental organizations are actively supporting this trend to promote sustainable packaging solutions.
Consumers now prioritize cup carriers that offer better quality and have less environmental impact. Paper and wood are expected to be prominent materials driving the cup carriers market. Additionally, molded pulp, which is made from recycled paperboard or newspaper, serves as a sustainable packaging material to address growing environmental concerns.
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In summary, the cup carriers market is experiencing significant growth, driven by the demand from the food and beverage industry. Consumer preferences for eco-friendly options and higher quality products are shaping the market landscape, with paper, wood, and molded pulp emerging as favorable materials for cup carriers.
“Increasing preference for eco-friendly and sustainable packaging solutions across various industries, along with expansion in the foodservice sector will drive sales in the market over the forecast period,” says an FMI analyst.
Key Takeaways:
- Sales of plastic cup carriers are expected to increase 5.1 times by 2032.
- The market share of 02 Cups to 04 Cups is expected to be 83% in 2032.
- As per end-use industry, foodservice is the leading segment representing prominent demand for cup carriers.
- The Germany cup carriers market is slated to create an incremental opportunity of US$ 17.2 Mn.
- Sales in the China cup carriers market will gain traction at a 5.9% CAGR over the forecast period.
- East Asia and South Asia are expected to lead the global cup carriers market through 2032.
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Competitive Landscape
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, Napco National, Detmold Group, and Judin Pack Group are some of the leading players operating in the global cup carriers market.
Global Cup Carriers Market Report
Future market insights, in its new report, offers an unbiased analysis of the global market for cup carriers market by material (plastic, paper, wood and molded pulp), by carrying capacity (single cup, 02 cups to 04 cups and above 04 cups), by end use (foodservice (quick service restaurant, hotels, restaurants, cafes and others), institutional, and household), across seven regions.
Regional Analysis:
Germany Cup Carriers Market: Preference for Cardboard Holders
The food and beverage market in Germany, like many others worldwide, was significantly impacted by the pandemic. However, the sector showed recovery due to growing national retail sales. Food retailing revenue experienced notable growth of around 8%, reaching $250.2 billion in 2020. With over seventy thousand food products available in the German market, the demand for cup carriers is expected to increase. The German cup carriers market is projected to create an incremental opportunity of $17.2 million by the end of 2032.
China Cup Carriers Market: Lucrative Demand for Reusable Holders
The cup carriers market in China has witnessed steady growth, with sales increasing at a 3.5% compound annual growth rate (CAGR) during the historic period of 2015-2021. It is expected to continue growing at an even higher CAGR of 5.9% over the forecast period. The high production and consumption rates of alcohol and other beverages in China contribute to the increased demand for cup carriers. According to the World Health Organization (WHO), per capita alcohol consumption in China was around 6.04 liters in 2019.
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Global Cup Carriers Market by Category
Material:
- Plastic
- Paper
- Wood
- Molded Pulp
Carrying Capacity:
- Single Cup
- 02 Cups to 04 Cups
- Above 4 Cups
End Use:
- Foodservice
- Quick Service Restaurant
- Hotels
- Restaurants
- Cafes
- Others
- Institutional
- Household
Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa
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