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Paper Cups Market to Reach Valuation US$ 9.2 Bn by 2030

The paper cups market is anticipated to garner notable gains, registering a CAGR of 4.4% every year, according to a 2022 study by Precedence Research, the Canada-based market Insight Company.

The paper cups market is surging, with an overall revenue growth expectation of hundreds of billions of dollars within the next ten years. The market is expected to grow to US$ 9.2 billion by 2030 from US$ 5.72 billion in 2021. The report contains 150+ pages with detailed analysis.

Paper Cups Market Size 2020 to 2030

The paper cups are made of cardboard and are disposable in nature. The paper cups are extensively used for the packaging and serving hot and cold beverages across the globe. The paper cups have a low-density polyethylene coating that helps to retain the original taste and aroma of the beverage.

The rising concerns regarding the plastic wastes accumulation is a major factor that propels the demand for the paper cups across the global market. Moreover, the rising penetration of quick services restaurants along with the rising demand for the home deliveries is boosting the adoption of paper cups. The changing consumption habits, rising urban population and busy and hectic schedule of the consumers are driving the growth of the global paper cups market.

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Crucial factors accountable for market growth are:
Paper Cups Market Report Scope

 

Report Coverage Details
Market Size US$ 5.5 billion in 2020
Growth Rate CAGR of 4.4% from 2021 to 2030
Latest Market Asia Pacific
Fastest Growing Market North America
Paper Cups Marekt Report Highlights
Paper Cups Marekt Dynamics

Drivers – The rising number of institutions and commercial spaces in the developing regions is a significant driver of the paper cups market growth. The introduction of compostable and bio-degradable paper cups is expected to drive the market growth in the upcoming years.

Restraints – Availability of plastic cups at a cheaper price than the paper cups is a major restraining factor that discourages the small beverage vendors to adopt paper cups. Further the single use feature of the paper cups is a major restraining factor. The paper cups require a huge energy for manufacturing and it is disposed only after a single use.

Also Read: Bottled Water Market Size to Touch US$ 500.7 Billion By 2030

Opportunities – The rising popularity of organic paper cup is gaining rapid traction in the developed markets like Europe. The increased consumer awareness regarding health and hygiene and environmental issues is expected to drive the demand for the organic paper cups in the forthcoming years.

Regional Snapshots

Based on the region, the Asia Pacific was the dominating paper cups market in 2020. The Asia Pacific region is the home to the largest global population that gradually fosters the demand for the various food and beverages products among the population. Further, the increased consumption of hot beverages like tea and coffee is positively impacting the consumption of paper cups in the region. The rising penetration of coffee chains like Starbucks is boosting the paper cups consumption in the region.

The revenues of the Starbucks quadrupled in the Asia Pacific region in the past decade. The consumption of soft drinks is estimated to rise in the region. According to Varun Beverages, bottling partner of PepsiCo in India, the consumption of soft drinks is estimated to be doubled by the end of 2021 as compared to the consumption in the year 2019. Hence, Asia Pacific is estimated to be a fastest-growing market during the forecast period.

North America is the second largest market for the paper cups. This is due to the increased penetration of fast-food chains such as Subway, KFC, and Domino’s that commonly offers soft drinks in its daily affordable meal. Furthermore, the on-the-go consumption of beverages is growing in the region owing to rise in the number of employment that leads to a busy and hectic schedule of the consumers.

Recent Developments

Some of the prominent players in the paper cups market include:

Market Segmentation

By Type

By Wall Type

By End User

By Geography

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