Paper cups are used in food and beverage, household and institutional sectors. Their high utility across the spectrum can be attributed to their low-weight, eco-friendly nature, cost-effectiveness, and high recyclability. According to a Future Market Insights (FMI) report, the market is expected to surpass US$ 9210 Mn in 2021, at a CAGR of 4.5% between 2021 and 2031.
Amidst banning of single use plastics across the globe and growing efforts to eliminate plastic from packaging has led to emergence of paper based packaging items as a feasible solution. This has lead to adoption of paper cups in food service industry over past few years.
Request a report sample at https://www.futuremarketinsights.com/reports/sample/rep-gb-7591
Increasing focus on developing recyclable, biodegradable and plastic free cups, high demand for packaged foods and incorporation of disposable products in online food delivery services will further accelerate the market growth.
Presence of fast food giants and rising awareness in western countries regarding harmful effects of plastic has boosted the adoption of paper cups in such region. Market players are emphasizing on penetrating emerging economies of Asia and Africa due to surge in opening of fast food joints, rise in millennial and working population and soaring popularity of dining out in these countries.
Key Takeaways from FMI’s Paper Cups Market Study
The U.S. will drive the paper cups market in upcoming years due to establishment of modern food service industries in urban cities of the country. Increase in disposable income of people, and busy lifestyle will further accelerate the market growth. Establishment of new fast food joints and coffee and beverage shops in GCC countries will boost the demand for paper cups in the region. China will offer lucrative opportunities for paper cups market expansion. Improvements in recycling infrastructure, boosted tourism, and high consumption of tea and coffee will drive the paper cup market growth.
India paper cups market is forecast to experience substantial demand during the forecast period owing to improved standards of living, changes in consumer lifestyle habits, and ban of single use plastics in the country. More than 65% of global paper cups market sales comprises of hot beverage cups owing to increasing demand of on-the-go coffee by millennials. Emergence of eating out trend rather than eating home cooked meals will create an absolute dollar of opportunity worth more than US$ 1.4 billion over the forecast period.
Why Is U.S leading the Paper cups Market?
Stringent government policies regarding usage of plastic packaging, increasing paper recycling activities and presence of leading fast food chain in the country will boost the consumption of paper cups across the U.S.
As per the U.S. Environmental Protection Agency’s report, more than 292 million tons of municipal solid waste (MSW) was generated in 2018. Around 69 million tons of total generated MSW was recycled and 25 million tons was composted.
“Implementation of strict regulations on plastic waste generation WILL drive the sales of paper cups to reduce pollution. Rising demand for disposable and biodegradable packaging to cater to busy lifestyle will boost the paper cups market growth throughout the forecast period,” says the FMI analyst.
Ask an Analyst@ https://www.futuremarketinsights.com/ask-the-analyst/rep-gb-7591
Future Market Insight (FMI) explains the recent competitive scenario in the paper cups market along with different strategies employed by manufacturers to gain significant edge.
Key players in the paper cups market are focusing on new product development to gain popularity among end users.
For example, in December 2020, BrandBase introduced the world’s first plastic-free disposable coffee cup called “Jungle Cup” which biodegrades within 12 weeks without any external processing.
In January 2020, Lavazza Professional introduced biodegradable and recyclable cup especially for vending machines.
Key Segments Covered in Paper cups Market Study
Up to 150 ml 151 to 350 ml 351 to 500 ml Above 500 ml
Cold Beverage Cups Hot Beverage Cups
Supermarkets Distributors Departmental Stores Online Sales
Food service Institutional Households
North America Latin America Western Europe Eastern Europe Asia Pacific Middle East and Africa
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Unit No: 1602-006
Jumeirah Bay 2
Plot No: JLT-PH2-X2A
Jumeirah Lakes Towers Dubai
United Arab Emirates