Cup Carriers Market: An Overview
The packaging industry is evolving with time, manufacturers are continuously looking forward to create new and innovative packaging products. To meet the need of the customers, multipack solutions have developed in the market, such as cup carriers, bottle carriers, and others. Cup carriers are used by the food & beverage industries, not only for holding multiple cups together, but they also contribute to the brand image of the company. Cup carriers are made up of using corrugated cardboard, moulded pulp, and metal. These cup carriers are available in different sizes and volumes and suitable for varied application. Cup carriers are equipped with ergonomic handling. As the demand for the cup carriers is on the rise, industries are coming up with new designs. Overall the market for the global cup carriers is expected to be positive during the next decade.
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Cup Carriers Market: Dynamics
Cup carriers are available in multiple cup options from 2 cups, 4 cups and above. Cup carriers provide the practical solution to take away businesses such as fast food restaurants or coffee outlets. These factors are expected to drive the global cup carriers market during the next decade. Cup carriers are the perfect solution for on-the-go beverages. Manufacturers are using cup carriers for branding and promotion and enhancing the shelf appeal of the product as it makes the products stand out from the rest. Cup carriers act marketing instrument for the food and beverage industries and contribute to brand recognition at point of sale (POS). The growing preference of consumers for quick consumption of food and beverages is also driving the demand for cup carriers. These factors are expected to drive the global cup carries market during the next decade. Cup carriers’ manufacturers provide their customers with customizability options and brand specific designs. The growing trend towards compact packaging prevalent in the food and beverage industry as well. Taking this into account, food and beverage industries provide their offerings in light weight and small sized cup carriers. These factors are expected to fuel the global cup carriers market during the forecast period. Cup carriers provide two basic functionality. Firstly, marketing contribution at the point of sale, where it incorporates with designs and images for better brand recognition and secondly, cup carriers provide ease of carrying to the customers. These factors are expected to drive the global cup carriers market by the end of the forecast period.
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Cup Carriers Market: Regional Outlook
North America and Western Europe regions are expected to drive the global cup carriers market; it is attributed to the continuous demand for on-the-go food in the regions. It is also attributed to high disposable income in countries such as U.S. Canada and parts of Europe. It is followed by APEJ, it is due to the growing trend of specialized food and beverage packaging in countries such as China, India, and Thailand among others. Latin America region is also expected to witness average growth in the cup carriers market during the forecast period. MEA is expected to witness above-average growth. It is attributed to the adoption of ready-to-eat food in the region. Japan is likely to witness below average growth during the forecast period.
Cup Carriers Market: Segmentation
The global cup carriers market has been segmented on the basis of material type, number of packs and end use:
On the basis of material type, the global cup carriers market has been segmented as:
Corrugated carton board
Moulded pulp
Metal
On the basis of number of packs, the global cup carriers market has been segmented as:
Single Cup
2 Cups
4 Cups
4 and above
On the basis of end use, the global cup carriers market has been segmented as:
Food & beverage industry
Food Outlets
Institutions
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Cup Carriers Market: Key Players
Some of the global players operating in cup carriers market are-
Huhtamaki Group
WestRock Company
Smurfit Kappa Group
Cellulopack
Happiness Moon Co.
Mondi Group Plc
The research report presents a comprehensive assessment of the market, and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geography, material type, number of packs and end use.
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