Cup Carriers Market Forecasts to 2030 – Global Analysis By Material (Plastic, Wood, Molded Pulp and Other Materials), Carrying Capacity, End User and By Geography

Cup Carriers Market Forecasts to 2030 – Global Analysis By Material (Plastic, Wood, Molded Pulp and Other Materials), Carrying Capacity, End User and By GeographyAccording to Stratistics MRC, the Global Cup Carriers Market is accounted for $343.6 million in 2023 and is expected to reach $555.5 million by 2030 growing at a CAGR of 7.1% during the forecast period. To carry and transport cups while keeping their stability and preventing spills, cup carriers are essential packaging devices. Frequently, materials like cardboard, paperboard, moulded fibre, or plastic are used to make them. These carriers come in a variety of designs, including those that can accommodate two, four, six, or more cups. Coffee shops, fast food chains, and other food service businesses regularly use them for takeaway orders, drive-thru services, and catering events.

According to a survey by the National Coffee Association USA, 62% of Americans drink coffee every day, and almost half (48%) of the daily coffee drinkers in the U.S. buy their coffee from a quick-service restaurant, cafes, and drive through.

Market Dynamics:

Driver:

Increasing e-commerce industry growth

Sales of cup carriers are predicted to increase due to the beverage market's continued growth and the popularity of online delivery services. Following the pandemic, there has been a surge in the movement of online food delivery, which is projected to continue during the projection period. Cup carriers come in a variety of sizes and materials and are an effective way to distribute liquids. Moreover, sustainable growth opportunities have been established by cup carriers constructed of wood, paper, and pulp that has been moulded.

Restraint:

Growing environmental concerns

Growing environmental concerns and stringent government regulations on the usage of plastic is limiting business expansion. Additionally, the industry needs to take into account the various demands of various sections and provide them with a standard that does not harm the company's reputation when customers use cup holders in a way that allows the product to be safely stored for a longer period of time in the holder and does not cause spilling over time, interfering in any way with the user's lifestyle.

Opportunity:

Increasing demand for cup carriers

Cup carriers are also becoming more popular because they can hold a variety of liquids. Additionally, it may function simultaneously as a cup holder, a coffee travel tote, and a travel drink holder. The insulated interiors and partitions of most multiple cup carriers help to maintain the drinks appropriate temperatures and readiness for drinking at all times. These cup carriers can be used in a variety of situations. This is the element accelerating the market's expansion.

Threat:

High cost

The end-use businesses purchase these products at specific, competitive pricing. The market expansion could be hindered by the rising prices of premium materials, manufacturing, distributing, and transportation. In addition, there is a growing level of competition among suppliers, manufacturers, and important businesses. Distributors and well-established, powerful competitors are obstacles for new market entrants.

Covid-19 Impact:

The market for cup carriers has been severely disrupted by the COVID-19 outbreak. The demand for takeaway and delivery services has increased as a result of the temporary closure of catering businesses and limitations on dine-in services. To ensure the safe and secure transportation of beverages, this has resulted in a growing need for cup carriers. Due to increased hygiene and safety concerns brought on by the pandemic, single-use packaging options like cup carriers are becoming more popular. However, the industry has had to deal with difficulties like supply-chain interruptions, rising raw material costs, and declining consumer expenditure.

The plastic segment is expected to be the largest during the forecast period

The plastic segment is expected to be the largest during the forecast period. Plastic cup carriers are renowned for their toughness and resistance to moisture. They have, however, come under fire for having an adverse effect on the environment. Plastic cup carriers are stronger against heavy loads, reducing the possibility of product loss, and providing greater protection. To address sustainability issues, efforts are being made to create biodegradable and compostable plastic cup carriers.

The food service segment is expected to have the highest CAGR during the forecast period

The food service segment is expected to have the highest CAGR during the forecast period, owing to the growing preference towards recyclability and biodegradability. A cup carrier with a handle makes it simple to transport several drinks at once. With the capacity to hold four hot or cold drinks simultaneously, this carrier makes it simple for users to transport drinks while on the go. For both drivers and passengers, cup holders in vehicle interiors offer useful advantages such beverage stability, convenience, attention reduction, organisation, and comfort.

Region with largest share:

North America is projected to hold the largest market share during the forecast period. The region's ongoing need for food to eat on the go is said to be the cause of the rise. The high levels of discretionary income in the US and Canada will further increase demand for the goods. The use of print-on-demand processes is one of the innovations aiding the industry expansion in this area. Such technological advancements are anticipated to maintain market expansion.

Region with highest CAGR:

Asia Pacific is projected to hold the highest CAGR over the forecast period, due to the rising trend of specialized food & beverage packaging. Due to the changing lifestyles and higher level of living in this area, cup holders and beverages are in high demand. Because the average person uses cup holders so frequently, this is boosting demand for them. People are also shifting from rural to urban areas as a result of rising family incomes, which is raising product consumption.

Key players in the market

Some of the key players in Cup Carriers market include Huhtamäki Oyj, Georgia-Pacific Consumer Products LP, Southern Champion Tray, LP, Green Paper Products, Graphic Packaging International, LLC, Sabert Corporation, CELLULOPACK SAS, Cascades inc, WestRock Company, MULTI-WAYS PACKAGING, PakTech, MULTIPAP, Pactiv LLC and Colpac Ltd.

Key Developments:

In July 2022, Georgia-Pacific Corp. has announced the successful completion of its $170 million acquisition of Insulair, Inc., a privately held manufacturer of premium insulated paper cups and lids.

In February 2022, Huhtamaki extended its support to Unilever’s Carte D’Or as it slashes plastic use with a move to recyclable paper by shifting the packaging for their ice cream to recyclable paper tubs and lids.

Materials Covered:
• Plastic
• Wood
• Molded Pulp
• Paper
• Other Materials

Carrying Capacities Covered:
• Above 4 Cups
• 02 Cups to 04 Cups
• Single Cup

End Users Covered:
• Household
• Food Service
• Institutional
• Pharmaceuticals
• Personal Care
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements