Made out of paper, paper cups are often laminated with a plastic or wax layer in order to prevent any liquids from dripping out. Owing to their advantages which include light-weight, user-friendly, hygienic, bio-degradable, recyclable and non-toxic, paper cups are highly preferred in the consumption of food and beverages like tea, coffee, soft drinks, instant noodles, sweet corn, etc. A new research report by IMARC Group, titled “Paper Cups: Global Industry Trends, share, Size, Growth, Opportunity and Forecast 2018-2023”, estimates that the market reached a volume of 254.5 Billion Units in 2017. The report further anticipates the market to reach a volume of approximately 280 Billion Units by 2023, at a projected CAGR of around 1.6% over the forecast period.
Global Paper Cups Market Drivers/Constraints:
- Changing eating patterns, hectic lifestyles and urbanisation have resulted in a shift towards ready-to-eat food products. This coupled with flourishing fast-food services has facilitated the demand for paper cups globally.
- In comparison to plastic, styrofoam and glass cups, paper cups are environment-friendly, biodegradable and take a lesser time to get decomposed. As a result, they are extensively used in public spheres, such as offices, hospitals, and large-scale organisations and institutions.
- Growing consciousness about hygiene and sanitation represents another factor which is strengthening the demand of paper cups. This is due to the fact that paper cups are exposed to high heat during their manufacturing process which kills bacteria and makes them sterile.
- As the production of paper cups is directly proportional to deforestation, it can have a negative impact on the environment. This acts as a major constraint for the growth of the paper cups market.
Product Type Insights:
On the basis of type, paper cups for cold beverages hold for the majority of the market share. They are followed by polystyrene, plastic and hot beverages cups.
Based on application, tea/coffee represents the largest application segment accounting for the majority of the global paper cups market. This can be accredited to rising consumer consciousness for hygienic drinking cups in both the mature as well as emerging markets. Tea/coffee is followed by chilled food/beverages and other food/beverages.
On a geographical front, Asia Pacific exhibits a clear dominance in the market with the majority of the share. It is followed by North America, Europe, South America, and Middle East and Africa.
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:
- Benders Paper Cups
- International Paper
- Dart Container
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.
Follow us on twitter: @imarcglobal