Future Market Insights
To meet the need of the busy lifestyle, big cities around the world have relied on the innovation of cup carrier disposable packaging products. Cup carrier packaging is a significant part of the foodservice industry catering to its consumers across the continents. It has a wide application for serving beverages such as tea, coffee, soft drinks to consumers all around the world. Cup carriers are used to carry and consume the beverages conveniently irrespective of it being hot or cold. Cup carriers have eased on the go consumption of beverages. Cup carriers have allowed people to consume beverages while driving, watching a movie and other days to day activities.
Cup Carrier Packaging Market: Market Dynamics
Cup carrier packaging market is a significant part of the beverage packaging market. Beverage packaging industry is estimated to be over US$ 100 billion and is expected to grow at a CAGR of 4% over the forecast period. With the expansion of beverage industry, the application of the cup carrier in foodservice activities is set to increase while influencing the cup carrier packaging market. The presence of large number of tea and coffee consumers is expected to fuel the demand for cup carrier packaging market over the forecast period. The increasing number of working professionals especially in APEJ region has increased on the go consumption of beverages which may boost the cup carrier packaging market over the forecast period. New designs and innovations in packaging industry have insured further growth in the cup carrier packaging market by using eco-friendly material for manufacturing of cup carrier. Cup carrier manufactured from eco-friendly or recyclable material is a sustainable form of packaging which is 100% compostable. On the backdrop of an upsurge in beverage packaging industry and convenience offered, the cup carrier packaging market is expected to move witness expansion.
Cup Carrier Packaging Market: Market Segmentation
Cup carrier packaging market is segmented by the types of materials used, the number of cups and end use.
Based on the types of materials used, cup carrier packaging market is segmented into:
Based on the number of cups, cup carrier packaging market is segmented into:
Based on the end use, cup carrier packaging market is segmented into:
Cup Carrier Packaging Market: Regional Outlook
Regionally global cup carrier packaging market is segmented into
The lifestyle of the North American people and the presence of a large number of vehicles is expected to drive the cup carrier packaging market in the region over the forecast period. Latin America is expected to follow the North American region in cup carrier packaging market due to the changing lifestyle of the consumers in the region. The opening of a large number of food outlets and rapid urbanization has led the cup carrier packaging market to grow rapidly in the region. Growth for cup carrier packaging market in Western and Eastern Europe is expected to be moderate while MEA is expected to account for a smaller but fast-growing cup carrier packaging market share.
Cup Carrier Packaging Market- Key Players:
Some major players in the cup carrier packaging market are Southern Champion Tray Co, Cellulopack, The Brenmar Company, The Paper Cup Company. Pty Ltd., 3M Company, P4CK Limited, Active Difference Ltd, Hangzhou Longquan Industrial Co., Ltd, The VaioPak Group, Colpac Ltd, E-Package Creation & Solution Manufacturing Corp., Shenzhen CyGedin Printing & Packaging Co., Ltd., Qingyuan Best Strong Import & Export Co., Ltd.
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