Keeping in mind the customer requirement, the finest Paper Cups Market research report is constructed with the professional and in-depth study of Paper Cups Market industry. Market segmentation studies conducted in this report with respect to product type, applications, and geography are valuable in taking any verdict about the products. This market report serves the purpose of businesses of making enhanced decisions, deal with marketing of goods or services, and achieve better profitability by prioritizing market goals.
With the use of up to date and proven tools and techniques, complex market insights are organized in simpler version in the first class Paper Cups Market business report for the better understanding of end user.
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Driven by growing emphasis on better consumer experience, the paper cups market saw steady growth rate of 4.5% CAGR between 2021 and 2031, reaching valuation of around US$ 9210 million by the end of the year. Future Market Insights(FMI) estimates that paper cups revenues grew by 4.3%year-on-year in 2021 owing to outbreak of COVID-19 pandemic and rising demand of on-the-go paper cups around the world.
Key Takeaways from FMI’s Paper Cups Market Study
- The U.S. will drive the paper cups market in upcoming years due to establishment of modern food service industries in urban cities of the country. Increase in disposable income of people, and busy lifestyle will further accelerate the market growth.
- Establishment of new fast food joints and coffee and beverage shops in GCC countries will boost the demand for paper cups in the region.
- China will offer lucrative opportunities for paper cups market expansion. Improvements in recycling infrastructure, boosted tourism, and high consumption of tea and coffee will drive the paper cup market growth.
- India paper cups market is forecast to experience substantial demand during the forecast period owing to improved standards of living, changes in consumer lifestyle habits, and ban of single use plastics in the country.
- More than 65% of global paper cups market sales comprises of hot beverage cups owing to increasing demand of on-the-go coffee by millennials.
- Emergence of eating out trend rather than eating home cooked meals will create an absolute dollar of opportunity worth more than US$ 1.4 billion over the forecast period.
“Implementation of strict regulations on plastic waste generation WILL drive the sales of paper cups to reduce pollution. Rising demand for disposable and biodegradable packaging to cater to busy lifestyle will boost the paper cups market growth throughout the forecast period,” says the FMI analyst
The Paper Cups Market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Paper Cups Market.
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Competitive Landscape
Future Market Insight (FMI) explains the recent competitive scenario in the paper cups market along with different strategies employed by manufacturers to gain significant edge.
Key players in the paper cups market are focusing on new product development to gain popularity among end users.
For example, in December 2020, BrandBase introduced the world’s first plastic-free disposable coffee cup called “Jungle Cup” which biodegrades within 12 weeks without any external processing.
In January 2020, Lavazza Professional introduced biodegradable and recyclable cup especially for vending machines.
In July 2019, Huhtamaki announced its new 100% PEFC (Programme for the Endorsement of Forest Certification) certified paperboard made “Bioware Impresso” double walled hot cup as a part of its existing Bioware compostable range.
The report also states that manufacturers are also focusing on the expansion of businesses in the developing markets owing to booming fast food industry in those regions and partnering with new value chain participants to achieve sales growth.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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