The global consumption of cupcake boxes is poised to attain approximately US$ 229.9 million in 2022, projected to escalate at a steady Compound Annual Growth Rate (CAGR) of 4.8%, reaching over US$ 366.5 million by 2032. Forecasts by Future Market Insights (FMI) suggest that the cupcake box market will experience substantial revenue growth, resulting in an absolute dollar opportunity of US$ 136.7 million during the span of 2022-2032. With an increasing populace drawn to bakery products like cakes and cupcakes, the demand for cupcake boxes is on the rise. The market is anticipated to expand to 1.6 times its current value over the foreseeable period.
As for the U.K. cupcake box market, it is projected to hit around US$ 15.2 million by 2032, demonstrating a Compound Annual Growth Rate (CAGR) of 3.6%. The surge in wheat flour consumption for various baked goods, including cakes, pizzas, and biscuits, is expected to drive the demand for cupcake boxes. The UK Flour Millers note that Britain produces around 10 million cakes and biscuits daily, a trend that is set to bolster cupcake box sales in the U.K.
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Moreover, the availability of customization such as different shapes, colors, and sizes will augment sales. These boxes are being preferred among commercial bakers and home bakers.
The number of homebakers surged across the world during the lockdown phase. As the local bakeries remained shut down, individuals pursuing baking hobbies started to make cakes and cupcakes at home. The culture of gifting cakes & cupcakes to friends, families, and colleagues on their birthdays and anniversaries will bolster sales of cakes and cupcakes, which is expected to have a direct impact on sales of cupcake boxes.
“Increasing preference for appealing packaging solutions to improve brand image and credibility among manufacturers is expected to augment growth in the cupcake box market over the assessment period,” says an FMI analyst.
Key Takeaways:
- Based on material, the paper and paperboard segment is projected to hold 60% of the total market share by the end of 2032.
- In terms of size, the 2 oz. to 5 oz. segment is estimated to expand at a CAGR of 5.8% during the forecast period, creating an incremental opportunity of US$ 64.2 Mn during 2022-32.
- The increasing consumption of cupcakes in Europe and North America will drive sales of cupcake boxes.
Cupcake Box Market Landscape
Key players operating in the cupcake box market include Plastic Package, Inc., LINDAR Corporation, Napco National, Graphic Packaging International, LLC, Smurfit Kappa Group plc, and Robinson Plc. Also, Inno-Pak, LLC, Dart Container Corporation, Pactiv LLC, McLaren Packaging Ltd, and Alefh Sp z o.o. Sp. K are some of the noticeable players operating in the cupcake box market. The tier 1 players operating in the cupcake market hold around 15-20 of the global cupcake box market.
Key players operating in the global cupcake boxes market are using production facility expansion, mergers and acquisitions, and new product launches to gain a competitive edge.
Some of the recent developments in the market include:
- In May 2022, the paper-based packaging company named Smurfit Kappa Group announced the expansion of its production capacity by investing in a new packaging plant in Morocco for corrugated packaging.
- In November 2021, Graphic Packaging International won 12 awards at the North American PPC Carton Awards which includes- Excellence Award for their McVitie’s Jaffa cakes festive gift box.
How Is Rising Demand For Bakery Packaging Driving Sales Of Cupcake Boxes?
Increasing preference for affordable and convenient food packaging is driving sales of cupcake boxes. In addition to this, consumers are preferring online sales channels for buying food products and ingredients. E-commerce delivery of food products requires robust packaging solutions to ensure the quality maintenance of the product. This is expected to spur demand for effective cupcake boxes for online delivery services.
Cupcake boxes are easy to use and easier to reuse or dispose. Trends such as the introduction of low fat and sugar-free cupcake blends by bakers, a rise in awareness of new flavors and low-calorie cupcakes are expected to spur demand in the market.
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Cupcake Box Market By Category
By Material:
- Paper and Paperboard
- Plastic
By Size:
- Less than 2 oz.
- 2 oz. to 5 oz.
- 6 oz. to 9 oz.
- 10 oz. and above
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa
- 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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