The global cup carriers market is expected to reach a valuation of US$ 320.9 Mn in 2022. Sales are projected to gain traction at a 5.1% CAGR over the assessment period, with the market valuation reaching US$ 528.5 Mn by 2032.
Cup carriers have grown popular due to their availability in different sizes and designs. In addition, the food and beverage companies use cup carriers as they are the best solution for take away businesses such as restaurants and business concepts such as kiosk kitchens.
Manufacturers and distributors also provide various brand designs on the cup carriers, which not only serve as a carrier but also help with branding. In addition, with time, consumers are becoming more environmentally conscious, which has increased the sales of paper, wood, and double molded pulp cup carriers.
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Consumers are now becoming more health and environment conscious. Eco-friendly cup carriers are going to rule the market, as they are degradable completely within a few days and the government and various efforts from other organizations would help the cup carrier market to get good holding. Consumers prefer cup carriers, which are better in quality and are less harmful. Paper and wood would be prominent materials to drive the cup carriers market. Molded pulp is the packaging material which is made out of recycled paperboard or newspaper. It is sustainable packaging material which can control the growing environmental issues.
“Increasing preference for eco-friendly and sustainable packaging solutions across various industries, along with expansion in the foodservice sector will drive sales in the market over the forecast period,” says an FMI analyst.
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
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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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