Transparency Market Research delivers key insights for the cup carriers market in its published report, which include North America industry analysis, size, share, growth, trends, and forecast for 2021–2031. In terms of growth, the North America cup carriers market is projected to witness rapid growth during the forecast period, owing to increased beverage consumption in North America and growth of food service outlets, about which, TMR offers detailed insights and forecasts in the North America cup carriers market report.
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Cup carriers are widely used across North America to hold and move beverages. They are convenient way of carrying around beverages without any hassle. Beverage cup carriers are made of paper/molded fiber, plastic, and other materials such as jute, wood, or bioplastics. Cup carriers are capable of holding one to six cups in a tray format with an optional handle.
The food & beverage sector is expanding and becoming progressively dynamic in North America. This transformation provides various opportunities for packaging manufacturers to suffice the demand for packaging solutions in the food & beverage sector. This is expected to boost the cup carriers market.
Manufacturers are focusing on expanding their cup carriers portfolios to better meet the growing demand from on the go food consumers. There seems to be a key focus on design to enable optimum consumer convenience. Food takeaway culture in North America is playing a huge role in shaping the cup carriers market.
Growth of Beverage Industry in North America
Due to the outbreak of COVID and increasing health issues, consumers are focusing on health and well-being, and adopting immunity-boosting, less sugary and fat-free beverages across the U.S. This is not only causing a revolution in the beverage industry but also increasing consumers count for the same. The accelerating beverage industry is a positive sign for cup carriers and would benefit the market in the near future.
- Beverage manufacturers are well aware of this trend and are contributing their best to cater the market. Neuro, a well-renowned beverage manufacturer based in Los Angeles, launched a probiotic kombucha in April 2020, which improves digestion and increase immunity.
- In March 2021, Starbucks across the U.S. launched non-dairy, vegan, and gluten-free drink option, which is available for takeaway as well as delivery in a disposable cup with cup carriers
Digital Printing on Cup Carriers to Uplift Market
Digital printing is used to create and copy images on any physical packaging. It is widely used by manufacturers to highlight their products through publishing brand details, logo, product information, taglines, brand ambassadors, etc. in the packaging. Digital printing is often used on cup carriers to increase the product attractiveness and make it more informative. It is also utilized as a customization tool and provides customer information on the product. Print-on-demand is one of the trends helping cup carriers to survive in the market.
Increasing Wastage Act as Barrier for Cup Carriers Market in North America
Cup carriers with all their benefits also contribute to wastage. Single-use plastics cannot be recycled or re-used, making it an underlined waste. Single-use plastic is harmful for the environment and causes problems for aquatic lives. The TMR researchers have estimated that more than 8.3 billion tons of plastic was produced since 1950, and more than 60% of it has either been disposed into the natural environment or a landfill. This could hamper the position of cup carriers in the market.
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North America Cup Carriers Market: Competition Landscape
TMR analysed that the North America cup carriers market is moderately competitive, due to a large number of local players in the market. This competition among key players is carefully studied based on developments, strategies, and segmental revenues 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 and MULTIPAP. TMR distinguished these cup carriers market players as per their segmental earnings into different tier slabs.
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