The global paper cups and paper plates market was worth US$ 106 Billion in 2018. Paper cups and paper plates are made from paper-based materials and are often coated or lined with plastic or wax to prevent the contents from soaking through the paper. As consumers are nowadays becoming more sanitation and hygiene conscious, they prefer disposables over the reusable utensils. They are extensively used for serving food and beverages like tea, coffee, soft drinks, instant noodles and sweet corn. Currently, there is a wide variety of different paper cups and plates available in the market, which vary in size, form and texture.
On account of their lightweight, cost-effectiveness, biodegradability, and ability to provide air resistance, internal strength and stiffness, paper cups and paper plates are extensively being utilized in the food and beverage industry. Also, they do not require cleaning and can be easily discarded after use. Apart from this, there has been a rise in the influence of westernization and increasing fast food consumption in developing regions. This has led to an escalated demand for paper disposables for packing food and beverages. Besides this, paper cups and plates are significantly more biodegradable as compared to plastic and foam counterparts and tend to take lesser time to get decomposed. Moreover, manufacturers are also coming up with new strategies, such as advanced substrate technology, to prevent the contamination of packaged food items by grease and oxygen. This is projected to further augment the demand for paper cups and paper plates globally. Looking forward, IMARC Group expects the market value to reach US$ 119 Billion by 2024, exhibiting a CAGR of nearly 2% during 2019-2024.
Global Paper Cups Market Breakup:
Currently, hot paper cups exhibit a clear dominance in the market, holding the largest market share.
At present, single walled paper cups represent the leading segment with the majority of the market share.
Global Paper Plates Market Breakup:
Amongst these, heavy duty paper plates are the most popular product type across the globe.
Region-wise, Asia Pacific enjoys the leading position in the market, accounting for the largest market share.
The market is highly fragmented in nature with the presence of numerous small and large manufacturers who compete in terms of prices and quality. Some of the leading players operating in the market are:
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