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According to FMI, the market for vending cups generated US$2.05 billion in revenue in 2021. By the end of 2028, the global market for vending cups is anticipated to grow by 1.3 times its current market value. The top 3 nations are expected to own 39.9% of the global vending cup market in 2022, as the demand for vending cups will increase.
According to recently released data from a market research of vending cups, the global market for paper vending cups had year-over-year (YoY) growth of 5.2 percent in 2021, reaching US$ 1.2 Bn. Between 2022 and 2028, the paper vending cup market is projected to grow at a CAGR of 4.0 percent.
Strategy Analysis through Competition Tracking The global vending cups market showcases an extremely fragmented-high competition landscape, with the small, tier-3 companies accounting for the largest market share. Tier 3 companies dealing in vending cups such as Dispo International, SwissPrimePack, and Benders Paper Cups receive most of their revenue through aggressively defending their product portfolios.
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Other key insights from competitive landscape analysis include:
Tier-3 companies in the global vending cups market account for a major share of the market, contributed to nearly 60 percent of the total global market share. Tier-2 players, including RPC Tedeco Gizeh and International Paper Company, contributing, falling under the 1-2.5 percent revenue share bracket, are anticipated to account for nearly 16-20 percent of the total vending cups market Tier-1 companies, Huhtamaki Oyj, Coveris Holdings S.A., New WinCup Holdings, Inc., and Nupik-flo UK Ltd.-sharing a revenue bracket of above 2.5 percent, are estimated to hold a total of 20-25 percent of the vending cups market share.
However, larger vending cups companies are projected to have relatively stronger clout with suppliers and therefore, less alarmed by the pricing issue than smaller operators, considering competitive pricing remains a vital factor for vending cups manufacturers.
The key players engaged in manufacturing vending cups are focusing on expanding their presence through investing in manufacturing facilities along with increasing their production capacity. Also, the players are developing innovative packaging solutions.
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Vending Cups Market by Category
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The post The Vending Cups Market is estimated at US$ ~2.1 Bn in 2022 and is projected to reach US$ ~2.6 Bn by 2028 appeared first on Future Market Insights.
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