Paper cups are convenient, affordable, and eco-friendly disposable cups used across cafes, restaurants, schools, offices and events. They are made from paperboard which is recyclable, light weight, cost effective and easy to produce cups. Paper cups are a staple of the quick service restaurant industry and are commonly used by cafes and takeaway food shops. The global Paper Cups Market is estimated to be valued at US$ 45 billion in 2023 and is expected to exhibit a CAGR of 24% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Growth Accelerated by Increasing Demand from Food Services Sector
The increasing fast food chains, cafes, takeaway food shops and quick service restaurants have been driving the demand for paper cups significantly. Paper cups offer versatility, ease of use and are 100% recyclable which is appealing to businesses as well as customers. Growing popularity of on-the-go food and beverages coupled with rising disposable incomes in developing economies is fueling the sales of paper cups across food service outlets. Various innovations in materials and designs suited for hot as well as cold beverages are further supporting the growth of paper cups market. Manufacturers are enhancing paper cup capacities to hold more volume and withstand high temperatures for longer periods of time.
Segment Analysis
The global paper cups market size is dominated by the cold beverage segment. Cold beverages primarily include coffee, juices, and soft drinks. The ease of use and availability in different sizes have made paper cups an ideal option for on-the-go consumption of cold drinks. As more people opt for an outdoor lifestyle and consumption of beverages away from home increases, the demand for paper cups from the cold beverage segment continues to rise.
Key Takeaways
The global paper cups market is expected to witness high growth over the forecast period of 2023 to 2030. The increasing demand for convenience packaging from the foodservice industry is one of the major factors driving the market.
Regional analysis: North America currently accounts for the largest share in the global paper cups market. The presence of leading quick service restaurants and coffee chains in the region has ensured high demand for paper cups. The Asia Pacific region is expected to record the fastest growth during the forecast period. Rapid urbanization, growing disposable incomes, and changing lifestyles in countries such as China and India are increasing the sales of paper cups.
Key players: Major players operating in the paper cups market include Dart Container Corporation, Georgia-Pacific, Huhtamaki, International Paper Company, Konie Cups International, Reynolds Group Holdings, and Genpak. Dart Container Corporation is one of the largest manufacturers and suppliers of paper cups globally. Genpak specializes in manufacturing paper cups using recycled paper content.
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