The Vending Cups Market is estimated to grow from US$ 2.2 billion in 2023 to US$ 3.1 billion in 2033.
In recent years, there has been increasing demand for vendor cups due to a growing demand for hot beverages and other packaged beverages, coffee, and tea in public spaces.
Throughout the forecast period, the vending cups market is estimated to be driven by increased consumption of premium hot beverages in retail stores, institutional services, offices, coffee shops, and other sites. Coffee was the most popular beverage, according to studies, with over two billion units sold throughout forecast period.
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Water finished second with 722 million units, while sweet snacks finished third with 323 million units, outnumbering salty snacks. Furthermore, throughout the forecast period, the vending cups market is likely to be propelled by the increasing installation of beverage vending machines in cafés and coffee shops.
Key Takeaways from the Vending Cups Market:
- Vending cups market is expected to hold a CAGR of 3.2% during the forecast period 2023 to 2033.
- One of the significant factors increasing the sales of vending cup across the region is the growing demand for vending machine in public spaces.
- North America dominated the vending cups market.
- The United States vending cups market is projected to grow at US$ ~492million by the end of 2028
Key Developments in the Vending Cups Market:
- March 2017 – Huhtamaki invested in the establishment of a new Greenfield paper cup manufacturing facility in Kiev, Ukraine. With local production, the investment seeks to service and expand in local and global clients.
- January 2021 – Various members of the Vending & Coffee service Association Switzerland inspected the company’s Recycling management of vending cups. The company represented the vending sector’s test sorting system and the “Cup to Cup” recycling idea. CribMaster introduced Flip Top, a new vending machine intended particularly for high-value tools and accessories, in May 2021.
- August 2020 – Supply Point introduced Roto point, a new 54-column drum with increased capacity for MRO and PPE products to improve inventory management.
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- July 2020 – Supply Pro made contact tracing available on its advanced inventory control systems by incorporating recent changes to Supply System Intelligent Software, allowing customers to conduct a Contact Tracing Report.
- February 2022 – Neon, an NFT and digital collection platform, unveiled the world’s first NFT vending machine in New York City’s Financial District. According to the business, the vending machine is going to allow customers to acquire digital collectibles or NFTs using fiat currencies, debit, and credit cards.
- September 2021 – Glory, a worldwide technology business, announced the debut of a new Internet-of-Things-enabled vending solution in collaboration with Deutsche Bahn, Germany’s largest railway operator. The company’s most recent solution mixes IoT-enabled hardware with cloud-based software to allow passengers to choose products either in advance via a web app accessible via their smartphone or directly at the machine.
Some of the key companies are as follows
- Graphic Packaging International, LLC
- MPM Marketing Services Pty Ltd.
- Swiss Prime Pack
- Benders Paper Cups
- Huhtamäki Oyj
- Hosti GmbH
- New Win Cup Holdings,
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Vending Cups Market Key Segment
By Capacity:
- Less than 7 Oz.
- 7 Oz. to 9 Oz.
- 10 Oz. to 12 Oz.
- More than 12 Oz
By Material Type:
- Plastic
- Polypropylene (PP)
- Polyethylene (PE)
- Polyamide (PA)
- Bioplastics
- Polyethylene Terephthalate (PET)
- Others
- Paper
- Foam
By Product Type:
- With Lid Vending Cups
- Without Lid Vending Cups
By End Use:
- Carbonated Drinks
- Soft Drinks
- Sodas
- Non-carbonated Drinks
- Dairy
- Tea/Coffee
- Juice
By End-user Base:
- Institutional
- Educational Institutions (Schools and Colleges)
- Public Institutions (Govt. Offices & Public Places)
- Private Institutions
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