Paper Cup Market Size to Reach USD 9.1 Billion by 2030; Rise in Production of Recyclable and Bio

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26 Aug, 2022, 10:10 ET

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NEWARK, N.J., Aug. 26, 2022 /PRNewswire/ -- As per the report published by The Brainy Insights, the global paper cup market is expected to grow from USD 6.22 billion in 2021 to USD 9.1 billion by 2030, at a CAGR of 4.3% during the forecast period 2022-2030.

Rising consumption of drinks and having fast food due to busy lifestyles in various cities in evolved countries has led to new coffee shops and quick-service restaurants. The trend is slowly penetrating growing regions. The rise in population and increasing per capita income in developing nations have raised the fast food and beverage market. Evolving lifestyles and setting up fast-food restaurants in growing countries will significantly drive paper cup sales.

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Paper cups are affordable, environmental-friendly, and very hygienic. It has raised the need for paper cups in takeaway and food delivery applications. The toxic nature of disposable plastics on the environment has encouraged the development of disposable packaging resolutions to lower carbon emissions, improve recycling, and adequate waste management. These elements are anticipated to maintain the demand for paper cups in forthcoming years.

Competitive Strategy

To enhance their market position in the global paper cup market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.

Market Growth & Trends

The market is encountering massive development due to demand from fast food outlets, cafes, and restaurants. Increasing per capita income, better living standards, and choosing suitable and disposable containers also propelled the market growth. Also, the growing craze of takeaway services contributes to market growth. Similarly, rising health awareness boosts the possible population to accept non-reusable cups. Regardless, the availability of recyclable and biodegradable plastic cups may hamper the market expansion. Also, the need for paper cups expanded due to increasing international pressure on integrating sustainable materials in the food and beverage sector to stop the usage of single-use plastic and the growth of effective waste disposal and recycling systems for eco-friendly products. Growing innovation to substitute plastic with other materials has led to the development of paper-based packaging, including edible cups, paper cups created from grain, and others. Besides, focusing on compostable foodservice packaging will push the need for paper cups in the future duration.

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Key Findings

The wall type segment is divided into single wallpaper cups, double wallpaper cups, & triple wallpaper cups. In 2021, the double-wallpaper cups segment accounted for the largest share of the market, with 34% and a market revenue of 2.11 billion. The double-walled cup contains two walls of paper with an air pocket that helps hold easily when serving hot beverages. Accordingly, double-walled is considerably utilized for serving hot drinks, and the raised usage of hot beverages pushes the need for double-walled paper cups.

The cup segment is divided into cold paper cups & hot paper cups. In 2021, the cold paper cups segment accounted for the largest share of the market, with 62% and a market revenue of 3.8 billion. The growth is due to the increasing popularity of consuming soft beverages, juices, and cold coffee among customers in today's busy lifestyle.

The end-user segment is divided into residential, quick service restaurants, institutional, & others. In 2021, the institution segment dominated the market with the largest market share of 28% and market revenue of 1.7 billion. A significant driver is the rising adoption of disposable paper cups in academies, institutes, and colleges to serve water and other beverages.

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Regional Segment Analysis of the Paper Cup Market

Among all regions, the Asia-Pacific region emerged as the largest market for the global paper cup market, with a market share of around 33.5% and 2.0 billion of the market revenue in 2021. The Asia Pacific region is the most significant global population that slowly boosts the need for various food and beverage products. Additionally, the rising consumption of hot beverages like coffee and tea ultimately affects the usage of paper cups in the region. The increasing penetration of coffee chains like Starbucks & Barista boosts paper cup consumption. The revenues of Starbucks have been four times in the Asia Pacific region in the past decade. The consumption of soft drinks is assessed to rise in the area. Therefore, Asia Pacific is anticipated to dominate and grow the market during the projection time.

Key players operating in the global paper cup market are:

This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global paper cup market based on the below-mentioned segments:

Global Paper Cup Market by Wall Type:

Global Paper Cup Market by Cup:

Global Paper Cup Market by End User:

About the report:

The global paper cup market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.

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About The Brainy Insights:

The Brainy Insights is a market research company aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirements, whether they are looking to expand or planning to launch a new product in the global market.

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SOURCE The Brainy Insights