The market for recyclable cups is anticipated to grow at a value CAGR of 5.3% and is anticipated to experience a healthy growth trajectory. By the end of 2022, the market for recyclable cups is anticipated to be worth US$450 million, according to this landmark analysis by Future Market Insights. Additionally, according to the previously indicated CAGR, the market is anticipated to reach US$ 754.2 Million. Growing Environmental Concern Will Benefit the Market for Recyclable Cups
The market is anticipated to profit over the projected period from the industries’ increased preference for renewable products as a result of rising environmental consciousness. The style tries to wean people off of using conventional plastic cups. The market for biodegradable cups is benefiting from such considerations.
Recyclable Cups market – Key Players
The key players in recyclable cups market include
- Berry Plastics Corporation,
- Eco-Products, Inc.,
- FrugalPac Limited.,
- Paper Cup Company,
- Genpak, LLC.,
- Huhtamaki Oyj,
- JAMES CROPPER PLC
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications.
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Recyclable Cups market– Dynamics
There have been an increase in quick service restaurants over the past few decades due to consumers changing life style and food habits leading to a parallel rise in the demand for more hygienic packaging and serving materials and the trend is expected to continue over the forecast period thereby creating more opportunities for recyclable cups market.
Recyclable cups are made from paper and plastic which gives it an extra advantage of being molded and designed to make the product attractive and visually appealing. The recyclable cups are intended to reduce the environmental and health impacts caused by the use of traditional disposable cups made from materials hard to recyclable.
The recyclable cups also helps the manufacturer in reducing the carbon footprint thereby reducing the cost of overall production. Attributed by these features, the recyclable cups market is anticipated to grow in terms of demand throughout the forecast period. However, the recyclable cups market is very fragmented in nature. The presence of local players and the offering of the products at comparatively lower prices tends to hamper the growth of multinational players in this market.
Recyclable Cups market – Region wise outlook
The global recyclable cups marketis segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.
Over past few decades, North America has been an established market. However, due to stringent law implication on the disposable cups and consumer concern over health and hygiene are anticipated to drive the market of recyclable cups in North America. Asia Pacific with two emerging economies, China and India is expected to dominate the recyclable cups market over the forecast period.
Asia Pacific have witnessed an increase in quick service restaurants over the past few years and the trend is expected to continue over the forecast period. The major consumption of recyclable cups is anticipated to account from food service and food retail sectors, therefore, Asia pacific is expected to witness substantial growth in recyclable cups market between 2017 and 2027.
However, revenue from the markets in Latin America and Middle Eastern countries is sluggish currently due to stagnant economy which is also expected to translate into lower demand for recyclable cups in these regions.
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Recyclable Cups market – Segmentation
The Recyclable Cups market is segmented as follows:
On the basis of technology, Recyclable Cupsmarket is segmented into:
- Thermoformed molding
- Injection molding
On the basis of material type, Recyclable cups market is segmented into:
- Paper
- Plastic
- LDPE
- HDPE
- PLA
On the basis of product type, Recyclable cups market is segmented into:
- Printable
- Non-printable
On the basis of product type, Recyclable cups market is segmented into:
- Less than 200 ml
- 200 ml – 400 ml
- 400 ml – 600 ml
- More than 600 ml
On the basis of application, Recyclable cups market is segmented into:
- Food
- Dairy
- Beverages
On the basis of end use, Recyclable cups market is segmented into:
- Food service
- Food retail
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