Cup Carriers Market
Cup Carriers Market (Material: Paper/ Molded Fiber, Plastic, and Others; Number of Cups: 1 to 2, 3 to 4, 5 to 6, and Above 6); and End Use: Food Service Outlets, Institutional Food Services, and Household Use) - North America Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031
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Lifestyle Trends Lead to Improvements in Designs for Cup Carriers
A cup carrier is a product used to carry multiple filled beverage cups at the same time. The present cup carriers market holds several different types of cup carriers, which most commonly include deep indentations, holes, or compartments into which the cups are placed. The products are mostly made of molded pulp, plastic, or other flexible material competent of withstanding the force of filled beverage cups, while being carried. It also helps to prevent the dropping of the cups or carrier, which can result in the spillage of the hot or cold beverage. Unique styles and designs for cup carriers are currently available in the market. Manufacturers are focusing on upgrading the durability and enhancing the design pattern to attract more consumers to the market. An increasing number of beverage manufacturers and people daily consuming tea and coffee is boosting the growth of the cup carriers market in North America.
The most common types of cup carriers have been manufactured from durable cardboard-type paper to a sturdy texturized pulp fiber for years. However, many leading businesses are expanding the types of cup carriers to better meet the growing demand from on the go beverage consumers. The takeaway food culture has been popularly increasing in North America, and hence, there is a huge demand for stylish and durable cup carriers in the region. In the U.S., several people believe that drinks with drink holders reign supreme. Moreover, according to several surveys and researches, more than 50% of people in the U.S. typically use cup holders to carry cups of coffee and tea. Moreover, the number of working individuals and rate of urbanization are increasing in North American countries, which are expected to result in the expansion of the cup carriers market in the region during the projected period.
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Online Delivery Channels Supporting Cup Carriers Market Players Withstand Pandemic
Food beverages and packaging companies are witnessing a heavy slowdown in consumption as well as disrupted supply chains due to the COVID-19 outbreak. The cup carriers market in North America heavily depends on these industries. The residential consumption has improved, but commercial or out-of-home consumption, which usually produces the highest margin, has come to nearly a pause. The COVID-19 pandemic and its devastating impact on the supply chain of the food & beverage sector have strongly impacted the packaging industry. The coronavirus spread has already led to some of the sharpest slumps in recent times in demand for certain types of cup carriers, while accelerating the growth for others such as packaging for eCommerce shipments. However, the new changes are presenting many companies producing cup carriers with a new set of challenges.
The COVID-19 created extensive spikes in online delivery from supermarkets. In the early stages of the crisis, many supermarkets and grocery stores across North America were closed, as people were asked to stay indoors by the government regulators. The restrictions and increasing spread of coronavirus have influenced people to not visit packed cafes and other beverage outlets. However, the advancement in digital delivery channels and eCommerce made it easier to order things at home. Thus, to deliver the beverages on demand and people preference for cup carriers with their drinks are contributing to the growth of the cup carriers market in North America.
Most manufacturers in North America are witnessing a demand for the packaging of healthy drinks and flavored milk beverages due to growing health awareness in the wake of COVID-19. As a result, many beverage companies are shifting to produce healthy drinks to fulfill the risen demand. This has increased the demand for cup carriers, and with the growing demand in the food beverage and packaging industries, the North America cup carriers market is likely to expand.
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Thriving Environment Concerns Drive Consumers toward Eco-friendly Cup Carriers
The most commonly known traditional cup carriers are manufactured using durable cardboard-type paper to a sturdy texturized pulp fiber. Each type of carrier allows carrying two to four hot or cold drinks safely. Some basic designs for cup carriers include basic square, while other carriers are more defined or of an origami design, as the sides of the container are higher. The edges are well defined and convenient to hold. Many cafes in North America prefer handles that make it easier to move and help balance in case another hand is busy. Many manufacturers are already designing cup carriers with sleek and balancing shapes to increase the convenience of holding for the consumers. Furthermore, due to growing concerns over the environment and trends for eco-friendly products, various cafes, restaurants, supermarkets, and other consumers are increasing the demand for biodegradable and eco-friendly cup carriers aiding in the North America cup carriers market growth.
Cup carriers are also increasingly trending for their multiple types of drinks holding ability. It can also vary in use like a cup holder, a coffee travel tote, and a travel drink holder at the same time. Many conventional cup carriers are also efficient to hold different types of liquids, which include tea, juice, water, energy drinks, milkshakes, smoothies, or even soups. Multiple cup carriers usually come with insulated inner coverings and dividers that keep the drinks at ideal temperatures, and ready for consumption at all times. These types of cup carriers can be suitable for multiple settings such as serving hot coffee at the office in the morning or ice-cold beer at a picnic or delivering a hot drink across town. Thus, there is an increasing trend for insulated cup carriers in the North American region. This is projected to drive the cup carriers market in the region during the forecast period.
Increased Production Rate Helps Lower Cost
The growing focus of manufacturers toward expanding their cup carrier designs and materials is meeting the burgeoning demand from on the go food consumers. The food and beverage takeaway culture in North America is rapidly growing and is expected to further grow with busy work schedule and increasing population. Moreover, producers of single-use food accessories are increasing the production of cost-effective and eco-friendly products. In addition, the growing use of online food delivery is increasing the demand for cup carriers for restaurants, cafes, food stalls, etc. All these factors are contributing to the growth of the North America cup carriers market, which is expected to expand at a CAGR of 4.1% during the forecast period.
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There are various designs and multiple cup options from 2, 4 to more than 6 cups available in the cup carriers market in North America. Cup carriers present a reasonable solution to takeaway segments such as fast-food restaurants or coffee outlets. Furthermore, cup carriers are an excellent solution for on the go beverages. Manufacturers now provide their customers with customizable choices and brand-specific designs. Moreover, there is an ongoing trend for compact packaging prevalent in the food and beverage industry. The growing demand in the food & beverage and packaging industries and the increasing number of restaurants and beverage outlets in North America are expected to propel the cup carriers market in North America during the forecast period.
North America Cup Carriers Market: Overview
- According to Transparency Market Research’s latest report on the North America cup carriers market for the forecast period of 2021-2031, the market is estimated to grow, owing to the demand from the beverage industry
- The North America cup carriers market is expected to clock 4.1% value growth rate during the forecast period. Practice of takeaways is likely to increase the sales of cup carriers in the years to come.
Coffee Consumption in North America to Drive Demand for Cup Carriers
- Coffee is one of the rich sources of antioxidants in western diets and contains several antioxidants good for health. These are a few of the factors for its popularity and increase in demand in North America. According to a survey by the National Coffee Association USA, 62% of Americans drink coffee every day, and almost half (48%) of the daily coffee drinkers in the U.S. buy their coffee from a quick-service restaurant, cafes, and drive through.
- Despite the onset of the pandemic in the year 2020, coffee consumption increased in Canada. Coffee Association of Canada confirmed that coffee consumption in Canada has surged from 69% of daily coffee drinkers in April 2020 to 71% of them in October 2020.
- Increasing coffee consumption is expected to boost the demand for cup carriers in North America since it makes carrying coffee convenient and helps customers to save time by taking it on the go.
Growing Demand from Outdoor Social Occasions to Reshape Market for Cup Carriers in North America
- Retail sales channels for cup carriers also target outdoor social occasions that involve buffet tables. Outdoor social events such as social club meetings, community get-togethers, etc. create considerable demand for beverages with disposable cup carriers for attendees.
- Molded fiber cup carriers are popular among end users and buyers of cup carriers for the retail market segment. Molded fiber cup carrier is highly preferred due their lightweight and eco-friendly features. Communities and clubs regularly organize get-togethers and meetings to enhance socialization value among individuals in their organizations.
- The cup carriers market is expected to continue to grow in North America due to the strong demand being generated from single-use cutleries required at several social occasions. Non-profit organizations, sports clubs, community clubs, and other local and social groups are growing rapidly around the world. These social groups regularly organize congregations and conventions of large members. Cup carriers emerge as effective and convenient solutions for a large assembly of people.
Takeaway Culture, Food Delivery in North America to Boost Cup Carriers Market
- Individual food choices and convenience of food at home are giving a boost to takeaway culture in North America. Pandemic has boosted food & beverage delivery and takeaway food in North America. Customers prefer food delivery apps and takeaway instead of eating at restaurants due to lockdown restrictions and personal safety.
- Customers favor eco-friendly packaging material when it comes to food and beverage packaging. This is helping paper/molded fiber segment in material to gain traction and grow in the market.
Preference for Insulated Bags for Beverage Delivery Act as Restraint to Cup Carriers Market
- Temperature controlling is a crucial step for online beverage and food delivery. Insulated cup carrier bags not only help to maintain the temperature of beverage stored but also ensure cushioning and safety of it from any unwanted twitch. Insulated bags are reusable, and made from jute, cotton canvas, hemp or any other biodegradable materials.
- These materials are steady and carry different weights on the go. Thus, it can be used to deliver drinks without the fear of ripping off. Many of the food delivery companies are adopting these bags instead of cup carriers due its benefits and ability to carry more. These factors could hamper the growth of the cup carriers market in North America.
North America Cup Carriers Market: Key Findings
- North America cup carriers market is expected to accelerate 1.5 times of the current value by 2031. This growth can be attributed to increase in beverage consumption in North America.
- As per TMR analysis, paper/molded fiber material segment is estimated to hold above 80% of the market share in 2021. Amid the COVID-19 situation, consumer inclination toward safe and sustainable packaging has increased, and this is boosting the market for paper/molded fiber cup carriers in North America.
- In terms of number of cups, two to four cup carriers are expected to attract an incremental opportunity of US$ 270 Mn by 2031. These cup carriers are economical and handy leading to their high demand.
- Food service outlets in the end use category is expected to expand 1.6x of its current market value by 2031, while household segment is likely to lose 1.8% of its market share by the end of the forecast period
- Due to the presence of key players and larger customer base, the U.S. holds a share of more than 86% of the cup carriers market in North America. However, Canada is expected to have a forecast growth rate of 5.1%.
North America Cup Carriers Market: Competition Landscape
- North America cup carriers market is moderately competitive, owing to a large number of local players in the market. This competition among key players is carefully studied based on developments, strategies, and segmental revenue of companies.
- TMR analysis includes outlines of key players in the North America cup carriers market study, which includes
- Graphic Packaging International, LLC
- Southern Champion Tray, LP
- Pactiv LLC
- Sabert Corporation
- Georgia-Pacific Consumer Products LP
- WestRock Company
- Huhtamäki Oyj
- Karat (Lollicup)
- Green Paper Products, LLC
- TMR distinguished these cup carriers market players as per their segmental earnings into different tier slabs.
Impact of COVID-19 on North America Cup Carriers Market
- Pandemic in North America has resulted in lockdown situations, which led to the shutting down of restaurants, food deliveries, and foodservice outlets. This is affecting the cup carriers market in North America.
- COVID-19 has heavily impacted the cup carriers market in North America resulting in a negative year on year growth of almost 0.7%. The market will observe a sluggish growth for a few years, but is expected to attain pace by the year 2025.
- The delay in transportation is leading to a lag in the supply of raw materials, increased costs of labor, and decreased demand by customer
North America Cup Carriers Market – Scope of Report
Transparency Market Research (TMR) started a new study on the North America cup carriers market, providing forecast for the period of 2021-2031. In the study, growth opportunity for the North America cup carriers market is witnessed. The report provides valuable insights, which enable readers to make winning business decisions for future growth of their businesses.
The report highlights significant factors that are constantly determining the growth of the North America cup carriers market, untapped opportunities for manufacturers, trends and developments, and other insights across various key segments. Macroeconomic factors that are directly or indirectly affecting market growth are also incorporated in the report.
Key Questions Answered in TMR’s North America Cup Carriers Market Report
- What will be the impact of COVID-19 on the North America cup carriers market?
- Which end use will be the most lucrative for cup carriers?
- What will be market size for cup carriers market in North America by the end of 2031?
- Which is the most preferred material in the North America cup carriers market?
- Which country will remain most lucrative for market growth?
- Which are the top five market players of the cup carriers market in North America?
- Which material holds maximum market share of the North America cup carriers market?
- Who are major key players in the North America cup carriers market?
Key indicators associated with the North America cup carriers market have been calculated thoroughly in the report. The study enumerates vital market dynamics such as key drivers, challenges, and trends, along with opportunities in the North America cup carriers market. A comprehensive study on the value chain, which includes component suppliers, manufacturers, distributors, and end users have been incorporated in the North America market report. Other key aspects laid down in the market include pricing strategy of leading market players and comparative analysis of cup carriers. Furthermore, forecast factors and forecast scenarios of the North America cup carriers market have been covered in the report to understand future prospects of the market.
A comprehensive evaluation and forecast on the North America cup carriers market have been provided on the basis of material, number of cups, end use, and country. Y-o-Y growth comparison, volume and revenue comparison, and market share comparison of various market segments are provided in the report. The North America cup carriers market has been analyzed at both regional and country levels.
The report delivers an exhaustive assessment on the structure of the North America cup carriers market, in tandem with a dashboard view of all leading company profiles in the report. Every company’s share analysis on market players have also been presented in the report, apart from the footprint matrix of profiled market players. It also highlights key end users for the North America cup carriers market.
The TMR Group includes outlines of key players in the North America cup carriers market study, which includes Graphic Packaging International, LLC, Southern Champion Tray, LP, Pactiv LLC, Sabert Corporation, Georgia-Pacific Consumer Products LP, WestRock Company, Huhtamäki Oyj, Karat (Lollicup), Green Paper Products, LLC and MULTIPAP. TMR distinguished these cup carriers market players in North America as per their segmental earnings into different tier slabs.
A realistic methodology, along with a holistic approach makes the base for sharp insights, which are provided in the North America cup carriers market for the study evaluation period. The TMR report comprises of detailed information on growth prospects, along with riveting insights into the forecast assessment of the market. Extensive primary and secondary researches have been employed to garner keen insights into the forecast study of the North America cup carriers market. The report has further gone through a cross-validation by in-house professionals to make the North America cup carriers market report one-of-its-kind, with the highest credibility.
North America Cup Carriers Market – Segmentation
The North America cup carriers market has been segmented on the basis of material, number of cups, end use, and country. Each of these segments have been analyzed to provide readers with a holistic view of the market.
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