The global cup carriers market is estimated to capture a valuation of US$ 337.6 million in 2023 and is projected to surpass a valuation of US$ 560.5 million by 2033. The market is anticipated to rise at a CAGR of 5.2% during the forecast period.
The ongoing expansion in the beverage market and the trend of online delivery services are expected to boost sales of cup carriers. The movement of online food delivery has increased after the pandemic and is likely to continue over the forecast period. Cup carriers are a good solution for delivering liquid substances and are available in various sizes and materials.
In addition, cup carriers made from paper, wood, and molded pulp are renewable, sustainable, and eco-friendly, making it easier for customers and suppliers to use them.
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These current industries are performing key roles to gain massive market growth. These sectors are estimated to secure maximum revenue in the market during the forecast period.
Key Takeaways:
- The cup carriers market is estimated to secure a CAGR of 5.2% with a valuation of US$ 560.5 million by 2033.
- In the historical period, the market registered a CAGR of 3.8% with a valuation of US$ 320.9 million in 2022.
- The food service sector dominates the global market by securing a massive share worldwide.
- The United States is dominating the global market by securing a share of 27.1% during the forecast period.
- Germany is capturing a share of 7.5% in the global market by 2033.
- China is estimated to capture a CAGR of 6% in the global market during the forecast period.
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How are Key Players Adding Value in the Global Market?
The key players play a vital role in the global market by innovating advanced and improved products. These players heavily invest in research and development activities to expand the global market. They are adopting various marketing strategies, including mergers, acquisitions, collaborations, agreements, and product launches.
Recent Developments in the Global Market are:
WestRock announced its partnership with Recipe Unlimited. This partnership took place to enhance recyclable paperboard packaging. The company aims to recycle around 31 million plastic containers to promote recyclable options and reduce carbon footprints.
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
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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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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