The use of eco-friendly and biodegradable products is rising in popularity as more people around the world become aware of environmental issues. Nowadays, paper cups are frequently preferred over ones with plastic components. Businesses such as quick-service restaurants, cafeterias, and other caterers are using more paper cups as a result of this consumer trend. Additionally, a sizable portion of the global population's busy lifestyle is driving up demand for everyday items such as paper cups.
According to Data Bridge Market Research, the Paper Cup Market is expected to reach USD 13.55 billion by 2030, which is USD 10.61 billion in 2022, registering a CAGR of 3.10% during the forecast period of 2023 to 2030.
" Increasing awareness surge the market growth"
Consumers’ shop is significantly impacted by growing consumer awareness of the damaging effects that plastics have on the environment. The most popular substitute for plastic packaging is corn starch. In order to promote a green brand image, well-known online food delivery services are also phasing out corn starch packaging. For instance, the Indian company shiva food packaging sells superior corn starch clamshell food containers, which are frequently used to serve food items.
What restraints the growth of the paper cup market ?
“Recycling can act as a challenge to the market growth rate"
Through their waterproof plastic or wax coating, paper cups are difficult to recycle. Although these coatings are designed to stop leaks, they make recycling more difficult. Paper cups have a lower recycling rate than other paper products because traditional recycling facilities are not set up to handle these coatings. The inability to separate the cup from its coating due to the presence of plastic or wax restricts the amount of materials that can be recycled effectively. This obstacle emphasizes the requirement for specialized recycling infrastructure or cutting-edge technologies to get around the coating barrier and boost paper cup recycling rates.
Segmentation: Global Paper Cup Market
The paper cup market is segmented on the basis of cup capacity, cup type, wall type, end-user, and distribution channel.
- On the basis of cup capacity, the paper cup market is segmented into up to 150 ml, 150 to 350 ml, 350 to 500 ml, and above 500 ml.
- On the basis of cup type, the paper cup market is segmented into cold beverage cup, hot beverage cup.
- On the basis of wall type, the paper cup market is segmented into single wall paper cups, double wall paper cups, and triple wallpaper cups.
- On the basis of end-user, the paper cup market is segmented into coffee and tea shops, QSR and other fast food shops, offices and educational institutions, residential use, and others.
- On the basis of distribution channel, the paper cup market is segmented into institutional sales, retail sales.
Regional Insights: Asia Pacific is expected to dominate the Global Paper Cup Market
Asia-Pacific dominates the market and will continue to flourish its trend of dominance during the forecast period. The major factor attributable to the region’s dominance are owing to the rising demand for paper cups. China is also the world leader in the production and consumption of disposable paper cups. Thus, with the ease with which disposable paper cups can be made, China dominates the Asia-Pacific paper cup market.
North America will undergo the highest growth rate during the forecast period owing to the region's expanding need for disposable paper cups in the commercial and industrial sectors.
To know more about the study, visit, https://www.databridgemarketresearch.com/ko/reports/global-paper-cup-market
Recent Developments in Global Paper Cup Market
- In 2021, Yogurt in paper cups was introduced, according to Chobani. Other dairy products such as cold brew coffee, oat milk, and coffee creamers can now be packaged using paper. The business promises to continue looking for paper-based alternatives to plastic packaging.
- In 2021, As per Bender Paper Cups, the "Garda Embossed Insulated Cup" was introduced. The product line includes a wide variety of hot mugs. The cup's stunning and unique design features a swirl pattern that allows for excellent insulation and print quality.
The Prominent Key Players Operating in the Global Paper Cup Market Include:
- Huhtamaki (Finland)
- Konie Cups International, Inc (U.S.)
- Genpak, LLC (U.S.)
- Conver Pack, Inc (U.S.)
- Dart Container Corporation (U.S.)
- Georgia-Pacific (U.S.)
- F Bender limited (U.K.)
- Graphic Packaging International LLC (U.S.)
- Kap Cones Pvt. Ltd. (India)
- Grupo phoenix (U.S.)
- Jiangsu Xinyu Bio-Tech Co., Ltd. (China)
- Eco-Products Inc (U.S.)
- International Paper (U.S.)
- Detmold (Australia)
Above are the key players covered in the report, to know about more and exhaustive list of paper cup market companies contact, https://www.databridgemarketresearch.com/ko/contact
Research Methodology: Global Paper Cup Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by dbmr research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, global vs regional and vendor share analysis. Please request analyst call in case of further inquiry.
