Stratistics MRC’s Global Cup Carriers Market value is expected to reach $555.5 million growing at a CAGR of 7.1% during 2023-2030.
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.
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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.
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.
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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.
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
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