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- Global Paper Cups Market
Global Paper Cups Market to Reach US$ 8.2 Billion by 2028, Bolstered by Growing Environmental Awareness Among Masses
July 27, 2022
The latest report by IMARC Group, titled “Paper Cups Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,” finds that the global paper cups market size reached US$ 6.7 Billion in 2022. Paper cups refer to disposable cups used by individuals for serving food and beverages. They are coated with polyethylene, which helps increase durability and performance by preventing condensed moisture from soaking, spillage, or leakage. Nowadays, paper cups are gaining traction among the masses, especially the working population, due to their eco-friendly nature, cost-effectiveness, ease of handling, and enhanced convenience. Moreover, these cups are also utilized across commercial establishments, such as food joints, restaurants, cafes and educational institutions.
Global Paper Cups Market Trends:
The market is primarily driven by the increasing environmental concerns among the masses. In addition, the growing focus on sustainable development has impelled individuals to use paper-based alternatives over plastic disposables. Besides this, governments of numerous countries are undertaking various initiatives to impose a ban on plastics and reduce carbon emissions. This, coupled with the rising product adoption in hotels, restaurants, and cafes (HoReCa) for dine-in serving and takeaway purposes, is positively influencing the market growth. Moreover, the emergence of online food delivery platforms, the inflating disposable incomes of individuals, and continuous product innovations are some of the other factors propelling the market growth. Looking forward, IMARC Group expects the market value to reach US$ 8.2 Billion by 2028, exhibiting a CAGR of 3.5% during 2023-2028.
Market Summary:
- Based on the cup type, hot paper cups exhibit a clear dominance in the market.
- On the basis of the wall type, the market has been segregated into single, double, and triple wall. Amongst these, single-wall paper cups account for the majority of the total market share.
- Based on the application, the market has been segmented into tea and coffee, chilled food and beverages, and others. Currently, the tea and coffee segment holds the largest market share.
- On the basis of the end user, the market has been classified into coffee and tea shops, QSR and other fast-food shops, offices and educational institutions, residential use, and others. Presently, coffee and tea shops exhibit a clear dominance in the market.
- Based on the distribution channel, the market has been segregated into institutional and retail sales. Amongst these, institutional sale accounts for the majority of the market share.
- Region-wise, Asia Pacific holds the leading position in the market. Other major regions include North America, Europe, South America, and the Middle East and Africa.
- The competitive landscape of the market has been examined in the report, with some of the key players being Benders Paper Cups, Huhtamaki Oyj, The International Paper Company, Dart Container Corporation, and Go-Pak Group.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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