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.
- 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.
In terms of value, FMI also forecast a dip in the Year-on-Year growth rate as more and more nations implement stringent laws circling ‘single-use plastic’ policy.
“Plastic consumption has remained a critical issue, impacting the overall food chain and public health.
However, several global initiatives are being taken by Governments- both in emerging and developed markets to reduce or completely eliminate the sales and consumption of single-use plastics-with a key focus on plastic cups, bags, and straws, amongst other commodities.
Vancouver, for instance, in its effort to ban all solid waste by 2040, has banned plastic straws. The nation has also moved a motion-to be in effect from June, 2019-to ban the distribution of takeout containers and foam cups. India, in 2017, took a major step towards banning all forms of single-use plastic. European Union, too, through its new plans, is expected to reduce the consumption of single-use plastics and microplastics by 2030.
FMI anticipates that growing public consciousness of sustainability and waste issues will remain a critical factor, suppressing the demand for vending cups. Such developments in the market could strike a significant blow to market growth, considering plastic still accounts for over 27% of the global vending cups market, by material”, explains a senior research analyst at the company.
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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
- Commercial Users
- Quick Service Restaurants
- Hotels
- Cafes
By Molding Technology:
- Thermoformed
- Injection
By Application:
- Cold Cups
- Hot Cups
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan (APEJ)
- Middle East and Africa (MEA)
- Japan
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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