The global cup carriers market is expected to grow at a significant rate. Cup carriers, also known as cup holders, are devices that are used to hold and carry cups, bottles, and other containers of varying sizes. They are commonly used in the food and beverage industry for takeout and delivery services, as well as in cars and other vehicles. In 2021, the market for cup carriers was estimated to be worth roughly US$ 308.0 Mn. Sales of cup carriers are anticipated to grow at a strong CAGR of 5.1% over the forecast period, valued at US$ 528.5 Mn by 2032.
The increasing demand for convenience and on-the-go consumption is driving the growth of the cup carriers market. With the rise in fast food and quick service restaurants, as well as the growing popularity of home delivery services, the need for cup carriers has increased. Additionally, the growing use of disposable cups and containers has also led to an increase in the demand for cup carriers.
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The cup carriers market can be segmented based on material, application, and end-user. Based on material, the market can be segmented into plastic, paper, and others. Plastic cup carriers are the most commonly used type, as they are lightweight and durable. Paper cup carriers, on the other hand, are more environmentally friendly and are often used for hot beverages.
Based on application, the cup carriers market can be segmented into food service, automotive, and others. Food service is the largest application segment, as cup carriers are widely used in fast food and quick service restaurants for takeout and delivery services. The automotive segment is also expected to grow at a significant rate during the forecast period, as cup carriers are increasingly being used in cars and other vehicles.
Based on end-user, the cup carriers market can be segmented into commercial and residential. The commercial segment is the largest end-user segment, as cup carriers are widely used in the food and beverage industry. The residential segment is also expected to grow at a significant rate during the forecast period, as more and more people are opting for home delivery services.
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In conclusion, the cup carriers market is expected to grow at a significant rate during the forecast period due to the increasing demand for convenience and on-the-go consumption. The growing use of disposable cups and containers, as well as the rising popularity of home delivery services, is also expected to drive the growth of the market. The key players operating in the market are focusing on strategic collaborations and partnerships to expand their market presence.
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.
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
- Oceania
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