Analysis of Vending Cups market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Persistent growth in the global beverage industry has intensified the demand for the installation of beverage vending machines over the last two decades. Vending cups form an integral part of beverage vending machines, to carry beverages in a specified quantity, and are thus considered a new holding solution for enhanced gripping. Key players in the foodservice disposables market are out to manufacture quality solutions, such as vending cups, in order to avoid jamming a beverage vending machine. Physical attributes such as lightweight and easy-to-carry vending cups make them the prime selection in the beverage industry. The market for vending cups is expected to witness blistering growth, owing to the intensifying demand for on-the-go beverages. Brand owners are largely inclined to vending cups made from plastic in order to reduce the risks of contamination.
The increased consumption of premium hot beverages at retail stores, institutional services, workplaces, coffee house, etc., is expected to drive the vending cups market over the forecast period. The increasing installation of beverage vending machines at cafés and coffee houses is projected to fuel the vending cups market over the forecast period. The market for vending cups is largely established in North America, as the per capita beverage consumption in USA largely exceeds in comparison to other regions.
However, the installation of vending machines involves high initial investment, which is further expected to hamper the vending cups market over the forecast period.
Among the geographies, North America, in terms of market share, is projected to be a major contributor to the vending cups market, owing to the maximum installed base of beverage vending machines across the United States of America. North America has the highest density of beverage vending machines, with their installation in almost every food service outlet, cafeteria, corporate office, etc., thus leading to the demand for vending cups throughout the region. The market for vending cups in Europe is expected to follow the North American pattern of beverage consumption, and hence, is projected to witness an in-line growth over the forecast period.
However, Asia Pacific is expected to register healthy double-digit growth in terms of the installation of beverage vending machines. China is projected to be a prime market for vending cups, followed by India in the Asia Pacific region. The increasing introduction of new hot beverage vending machines for dispensing tea and coffee is promoting the growth of the vending cups market across the Asia Pacific region. Moreover, with an increase in beverage consumption in the Middle Eastern & African countries, such as Saudi Arabia, the UAE, South Africa, Nigeria, Egypt, etc., the market for vending cups is expected to be a very lucrative market over the forecast period.
Overall, the global vending cups market is expected to register a healthy CAGR over the forecast period.
Some of the key players operating in the global vending cups market include,
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Globally, the vending cups market can be segmented on the basis of material type, cup size, and application.
On the basis of material type, the global vending cups market has been segmented as,
On the basis of cup size, the global vending cups market has been segmented as,
On the basis of application, the global vending cups market has been segmented as,
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Fact.MR
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The vending cups market is currently valued at US$ 2.1 billion.
The vending cups market is predicted to be 3.4% CAGR during the forecast period.
For the market for vending cups, the UK is anticipated to have a large market share.
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