The love affair with cupcakes shows no signs of slowing down! According to a new forecast by Future Market Insights (FMI), the global market for cupcake boxes is estimated to reach a sweet US$366.5 million by 2032. This represents a delectable CAGR (Compound Annual Growth Rate) of 4.8%, reflecting the ever-increasing popularity of these delightful treats.
A Delicious Marriage: Bakery Trends and Packaging Solutions
The market for cupcake boxes is being fueled by the rising consumption of bakery products, including cakes and cupcakes. Consumers are indulging in these sweet treats more than ever, and this trend is expected to continue for the next decade. Additionally, the growing preference for convenient and affordable food packaging solutions is playing a key role in driving demand for cupcake boxes.
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E-commerce Sweetens the Deal for Cupcake Boxes
The rise of online food sales is another factor contributing to the market’s growth. Consumers are increasingly opting to buy cupcakes and other baked goods online, creating a need for robust packaging that ensures product quality during delivery. Cupcake boxes, with their ease of use and durability, are perfectly positioned to meet this demand.
Sustainability Takes the Cake!
Consumers are becoming more conscious of environmental impact, and this is influencing the cupcake box market. The growing demand for sustainable packaging solutions is expected to spur the adoption of eco-friendly cupcake boxes made from recycled or compostable materials.
The UK: A Nation of Cupcake Connoisseurs
The UK market for cupcake boxes is a prime example of this global trend. With a projected CAGR of 3.6%, the market is expected to reach a value of US$15.2 million by 2032. This growth is attributed to the UK’s high consumption of wheat flour, a key ingredient in cupcakes and other baked goods.
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Overall, the global cupcake box market presents a tempting opportunity. As the demand for cupcakes continues to rise, and consumers seek convenient and sustainable packaging solutions, the market is well-positioned for a frosting-filled future!
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.
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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
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.
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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