Cup Carrier Market Share, Size, Trends, Industry Analysis Report, By Material (Plastic, Paper, Wood, Molded Pulp); By Carrying Capacity; (Single Cup, 02 Cups to 04 Cups, Above4 Cups); By End Use; By Region; Segment Forecast, 2023 - 2032
- Published Date:Oct-2023
- Pages: 116
- Format: PDF
- Report ID: PM3820
- Base Year: 2022
- Historical Data: 2019-2021
Report Outlook
The global cup carrier market was valued at USD 323.26 million in 2022 and is expected to grow at a CAGR of 4.4% during the forecast period.
Growing packaging industry in developing countries like India is providing new growth potential for the cup carrier market. The paper and packaging sector in India is currently undergoing a period of rapid growth, signaling prospects for future expansion. The industry's remarkable expansion and potential for future growth are evident in these figures.
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This growth can be attributed to various factors, including the booming e-commerce industry, increased demand in food processing, pharmaceuticals, fast-moving consumer goods (FMCG), manufacturing, and the healthcare sector. These sectors are driving the demand for paper and packaging solutions, leading to the significant growth of the cup carrier industry in India and in turn the global market by innovating efficient packaging solutions.
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Industry Dynamics
Growth Drivers
Increasing Takeout and Delivery Services
As more people discover the practicality of repurposing cardboard drink holders for fridge organization, the demand for these holders is expected to increase. This increased usage not only promotes sustainability and waste reduction but also indirectly supports the cup carrier market. Coffee shops and fast-food restaurants that provide these drink holders may experience higher demand as people actively seek them out for their organizational benefits. Reusing cardboard drink holders in the home as fridge organizers extends their lifespan beyond their initial purpose. This demonstrates the versatility and multi-functional use of cup carriers, highlighting their value beyond just holding drinks. As people explore creative ways to repurpose cup carriers, they may develop a greater appreciation for their functionality, leading to increased interest and potential growth in the cup carrier market.
Report Segmentation
The market is primarily segmented based on material, carrying capacity, end use and region.
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By Material |
By Carrying Capacity |
By End Use |
By Region |
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By Material Analysis
Plastic segment is expected to witness fastest growth
Plastic segment is expected to have faster growth for the market. This cup carriers are not only cost-effective, but they also offer a range of other advantages that make them a highly effective packaging solution. One key benefit is their durability, which ensures the safe transportation of beverages even in challenging conditions. Whether subjected to rough handling, temperature fluctuations, or exposure to moisture, plastic cup carriers reliably protect drinks, guaranteeing that they remain secure and free from spills throughout the journey.
In addition to their durability, the versatility of plastic cup carriers further enhances their effectiveness. These carriers can be easily molded into various shapes and sizes, allowing businesses to customize them according to their specific cup configurations and operational requirements. This flexibility enables businesses to select cup carriers that perfectly suit their unique needs, accommodating different cup sizes and quantities. Furthermore, plastic cup carriers can incorporate additional features such as handles, compartments, or branding elements, offering even more customization options to businesses.
By Carrying Capacity Analysis
02 Cups to 04 Cups segment accounted for the largest market share
02 Cups to 04 Cups segment holds the largest market share for the market in the study period. With the growing popularity of takeaway and food delivery services, the demand for cup carriers that can effectively accommodate multiple cups has surged. Customers often order multiple beverages for themselves or their group, and cup carriers capable of holding 2 cups to 4 cups provide an exceptionally convenient solution for carrying these drinks together. This segment caters effectively to the needs of customers who want to enjoy their beverages on the go.
Cup carriers with this carrying capacity are particularly useful for group orders and social gatherings. Whether it is an office meeting, a picnic, or a family outing, customers often order multiple drinks to effectively cater to everyone's preferences. Cup carriers in this segment allow for easy and secure transportation of beverages, enabling customers to conveniently distribute drinks among their group with maximum effectiveness.
By End Use Analysis
Food Service segment is expected to hold the larger revenue share
Food Service segment is projected to witness a larger revenue share in the coming years. These industry establishments, such as coffee shops, cafes, fast food chains, and restaurants, often serve a variety of beverages. Cup carriers enable these businesses to package and transport multiple cups of different sizes and beverage types in a convenient and efficient manner. Whether it is coffee, soft drinks, milkshakes, or other beverages, cup carriers provide a solution for businesses to accommodate and transport these diverse drink orders.
It includes catering services for various events, such as weddings, corporate functions, parties, and social gatherings. Cup carriers are essential for efficiently transporting multiple cups or containers of beverages to event venues. The demand for cup carriers in this segment remains significant, driven by the need to ensure the safe delivery of beverages and the convenience they provide during large-scale events.
Regional insights
Asia Pacific is expected to register highest growth rate in the study period
APAC is projected to have a higher growth rate for the market. Developing countries in this region are witnessing a significant rise in packaging solutions in quick service restaurants. As the quick service restaurant industry in India continues to witness rapid growth, fueled by changing consumer preferences, urbanization, and an increasing young population, the demand for cup carriers is expected to rise significantly. ICRA, a credit rating agency, has projected a significant growth of 20-25% for India's quick service restaurant (QSR) industry in the fiscal year 2023-2024 (FY24).
This indicates a higher volume of food orders, including bundled meals with multiple beverages, creating a need for efficient and reliable cup carriers to transport these orders securely. Furthermore, the growth of the market in India is likely to have a spillover effect on this region. As India is one of the largest economies in the region and a key player in the QSR sector, its growth and demand for cup carriers can influence market trends and drive the expansion of the cup carrier market in other countries across the region.
Europe garnered with the larger revenue share in the forecast time frame
Europe is expected to witness a larger revenue share for the market. As more people opt for delivery services, the need for reliable and efficient packaging solutions has become crucial. Cup carriers, also known as drink carriers or beverage carriers, play a vital role in ensuring that multiple cups or beverages can be safely transported without spills or accidents. The convenience offered by cup carriers has made them an essential component of the delivery process, contributing to the growing demand for such products.
UK has witnessed a remarkable surge in delivery culture. The takeaway market experienced a steady growth rate of 1.4 percent per year. However, the onset of lockdown measures further amplified this trend, resulting in a staggering 315 percent increase in sales from February 2020 to February 2021. Importantly, this upward trajectory has continued unabated, with no signs of slowing down. This surge in delivery demand has significantly impacted the food service industry, driving the growth of the cup carrier market in Europe.
Key Market Players & Competitive Insights
Key players in the market are constantly upgrading their technologies to stay ahead of the competition and to ensure efficiency, integrity, and safety. These players focus on partnership, product upgrades, and collaboration to gain a competitive edge over their peers and capture a significant market share.
Some of the major players operating in the global market include
- Berry Global
- Dart Container
- Detpak
- Eco-Products
- Fold-Pak
- Genpak
- Georgia-Pacific
- Huhtamaki
- Pactiv
- Sabert
- Solo Cup Company
Recent Developments
- In April 2023, Dart Container, a leading global manufacturer of foodservice packaging, introduced a groundbreaking initiative known as the Next Life Take Back Program. This program aims to assist customers in reclaiming Dart products for recycling, making it the first of its kind in the industry.
- In February 2023, Frank Green unveiled a new addition to their product lineup, a drink bottle attachment measuring 11.4cm by 7.5cm, meticulously designed to perfectly fit into car cup holders. This product is set to enhance the convenience and functionality.
Cup Carrier Market Report Scope
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Report Attributes |
Details |
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Market size value in 2023 |
USD 337.16 million |
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Revenue forecast in 2032 |
USD 498.90 million |
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CAGR |
4.4% from 2023 - 2032 |
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Base year |
2022 |
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Historical data |
2019 - 2021 |
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Forecast period |
2023 - 2032 |
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Quantitative units |
Revenue in USD million/billion and CAGR from 2023 to 2032 |
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Segments covered |
By Material, By Carrying Capacity, By End Use, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
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Customization |
Report customization as per your requirements with respect to countries, region and segmentation. |
FAQ's
The cup carrier market report covering key segments are material, carrying capacity, end use and region.
Cup Carrier Market Size Worth $498.90 Million By 2032.
The global cup carrier market is expected to grow at a CAGR of 4.4% during the forecast period.
Asia Pacific is leading the global market.
key driving factors in cup carrier market are Increasing Takeout and Delivery Services.
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