According to Future Market Insights research, the global plastic tumblers market is poised for substantial growth. It is forecasted to reach $49.5 million in 2023, with a projected compound annual growth rate (CAGR) of 4.8% to attain $79.1 million by 2033. This growth is supported by the dominance of the top 5 companies, which are expected to collectively hold 15-20% of the market by the end of 2022.
Within the plastic tumblers market, the 10 Oz to 20 Oz segment is expected to command approximately 70% of the market value share by 2033. This is primarily due to consumers’ strong preference for tumblers with this ideal capacity, a choice embraced by various end-use industries.
The Plastic Tumblers Market is experiencing steady growth as these versatile and lightweight drinkware items gain popularity across various consumer segments. Ideal for both indoor and outdoor use, plastic tumblers offer a durable and cost-effective alternative to glassware. Their widespread adoption in restaurants, cafes, parties, and households is fueled by their shatter-resistant nature, making them safe for children and outdoor events. Moreover, the availability of vibrant colors, stylish designs, and customization options enhances their appeal.
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:
- Polyethylene (PE)
- Polypropylene (PP)
- Polystyrene (PS)
- Polyethylene Terephthalate (PET)
- Polylactic Acid (PLA)
By Capacity:
- Less than 10 Oz
- 10 Oz to 20 Oz
- Above 20 Oz
By End Users:
- Commercial
- Institutional
- Household
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa (MEA)
- Oceania
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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