Cup Carriers Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030
Evolving Consumer Preferences for Beverages Packaging Shapes Contours of Cup Carriers Market
Changing lifestyle trends are the key drivers for new choices in packaging in the food and beverages industry. The packaging for beverages has witnessed continuous advancements, and is a key anchor for underpinning the growing demand for cup carriers. They are commonly made of pulp fibers and plastics. The use of durable cardboard-type paper has made the carrier sturdier.
The takeaway trend in beverages servicing is one of the key driver for growing use of cup carriers. The growing demand for stylish as well as durable cup carriers which can be used for holding wide variety of beverages with spillage is bolstering the prospects of the cup carriers market.
The growing consumer preference for drinks that have drink holders has boosted the growth of the cup carriers market. Rise in demand for cup carriers for tea and coffee is a key trend bolstering the prospects of the cup carriers market.
Cup Carriers Market: What Propels Demand?
After the onset of pandemic, businesses in the F&B services industries around the world have focused on meeting the consumer demands by transitioning a large part of their orders through online delivery channels. Rise in demand for cup carriers as a convenient beverages packaging for eCommerce has been a key trend in the past few months.
New designs and materials have come to be adopted by packaging companies servicing to the requirements of customers in the food services industry. Cafes and restaurants in developed regions have been prefering cup carriers as a convenient and flexible option for holding multiple drinks. Technological advancements have led to cup carriers that keep the food products healthy and preserve the taste for long duration. The demand for ready-to-consume beverages such as energy drinks, milkshakes, smoothies, and soups is gathering traction among travellers and consumers at-the-go, thereby propelling the sales in the cup carriers market.
Further, requirements from cup carriers have grown in commensurate with the evolving consumer taste and preferences toward drinks that need to be kept at a certain temperature range. Insulated beverages carriers have as a result are gathering steam among potential consumers in the cup carriers market.
The rapid pace of urbanization of emerging economies around the world has spurred the number of fast-food restaurants and coffee outlets mushrooming in cities and suburbs. The trend has contribute to the rise in sales of products in the cup carriers market.
Which Consumer Propositions to Shape Competitive Dynamics in Cup Carriers Market?
A thriving environmental concern for reducing the environmental impact of packaging is a key underpinning for new avenues in the cup carriers market. This has stoked the adoption of eco-friendly materials in the packaging used in cup carriers. Environmental-conscious consumers prefer cup carriers that had been made with biodegradable materials. Forward-looking packaging companies have in recent years have been increasing the percentage of recyclable materials in cup carriers in a bid to reduce the carbon footprint across the chain. These players are seeking steady revenue gains by offering cup carriers to meet demand among producers of single-use food accessories.
Some of the key players in the cup carriers market are
Cup Carriers Market: Key Regional Market and Dynamics Underlying Growth
North America has been a highly lucrative regional market. The opportunities are being fueled by the growing trend of promoting the use of eco-friendly and cost-effective cup carriers for single-use cutleries. Asia Pacific is a promising regional market. The regions has witnessed a burgeoning retail sector. Moreover, growing number of non-profit organizations in the emerging economies is a key trend bolstering the prospects of the cup carriers market. The proliferating use of food delivery apps among consumers in countries such as India and China has propelled the demand for cup carriers by food service chains.
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