Global Paper Cups Market 2021-2026 includes an elaborative summary of the market that provides in-depth knowledge of various segments of the market. The report focuses on the emerging trends in the Global and regional spaces on all the significant components, such as market capacity, demand and supply, production, profit, and competitive landscape. The research evaluates the Global Paper Cups market size, growth scenario, potential opportunities, trend analysis, and competitive analysis of the market. Also, the report presents the impact of the Covid-19 pandemic on the Paper Cups market comparing it with the working of the market before covid-19 and suggestions related to growth Post-Covid-19.
The Paper Cups Market is expected to grow at a CAGR of 2.72% over the forecast period (2021-2026).
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Market Overview: –
– The major demand for Paper Cups is being generated by the Food Service Industry across the globe. The rising trend of takeaways has generated a need for paper cups. Indicative of this is the growing demand for short-run custom printed cups that majorly used by individual coffee and ice cream shops that need lower volumes and fast deliveries. Huhtamaki to better serve this segment of the foodservice industry acquired CupPrint in 2018. Further, more than 225 million customers in the United States, one of the leading fast-food markets in the world are expected to use disposable cups by 2023, according to data released by the US Census Bureau.
Competitive Landscape: –
The competitive landscape of the market is becoming increasingly fragmented leading due to the entry of several small players in the emerging markets. In the developed economies though the market remains relatively consolidated as compared to developing economies. Some of the recent developments in the market are as follows: –
– In October 2019 – Genomelabs Bio Private Limited launched ‘EAT CUP which is an eco-friendly and biodegradable cup made from natural grain products. The cup produced is itself edible making it suitable for any kind of beverage consumption.
Key Market Trends: –
Emergence of Bio-Degradable Paper Cups is Expected to Drive Market Expansion
– Conventional paper cups are coated with Low-Density Polyethylene (LDPE) that is used for paper coating due to its high resistance to water and grease. These cups are suitable for being used in cups to carry juice, hot beverages, dairy and soft drinks. However, the difficulty of industrially decomposing synthetic polymer-coated paper cups has led to the rise of biodegradable cups with comparable performance.
– Poly Lactic Acid, a biobased thermoplastic polymer derived from renewable resources, is used in the lining of bio-degradable paper cups. The two major advantages for PLA coated cups are they do not require an additional step in recycling to separate the PE from the paper. When the recycling process is undertaken, PLA does not interfere with the process.
– Eden Springs recently introduced a fully compostable and biodegradable plant-based water cup, that can be used for both cold and hot beverage. Lavazza Professional introduced KLIX Eco Cup, a new recyclable and biodegradable product.
Asia-Pacific to be the Fastest Growing Market for Paper Cups
– Asia-pacific has been continually experiencing growth in per-capita incomes along with rising urbanization. This coupled with a strong coffee and tea consumption culture is expected to drive the need for the use of paper cups in the future as convenience foods continue to rise in popularity in this region.
– This can be corroborated by having a closer look at the sales figures of Starbucks in the region. Revenue of Starbucks has quadrupled in Asia-pacific between 2013 and 2018, growing from USD 1.13 billion to USD 4.47 billion by 2018. In China alone, the company reported third-quarter revenue of CNY 1.54 billion higher than most expectations of analysts. The expansion of the market is further vindicated by the growth of Chinese coffee startup Luckin that announced plans to open 2,500 new stores and overtake Starbucks Corporation in the country.
– Major Asian markets like India are considered under-penetrated in terms of Softdrinks consumption. With the change in this data, the need for paper cups is also expected to increase. According to Varun Beverage, PepsiCos India bottling partner, the soft drink consumption in the country is expected to double by 2021 from 2019.
Significant Features that are under Offering and Key Highlights of the Reports:
– Detailed overview of Paper Cups Market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application, etc.
– Historical, Current, and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Paper Cups Market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth
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