Paper cups market showed stable growth rate of 4.5% CAGR between 2021 and 2031, reaching valuation of roughly US$ 9210 million by the end of the year, driven by increased emphasis on enhanced consumer experience. According to Future Market Insights (FMI), paper cup revenues will increase by 4.3% year on year in 2021 as a result of the COVID-19 epidemic and increased demand for on-the-go paper cups globally.
According to FMI, the North America paper cups market will grow at a 3.7% CAGR during the forecast period due to increased manufacturing and export of paper cups from the United States, as well as rising demand from fast food restaurants in the region.
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Amidst banning of single use plastics across the globe and growing efforts to eliminate plastic from packaging has led to emergence of paper based packaging items as a feasible solution. This has lead to adoption of paper cups in food service industry over past few years.
Rising establishment of quick service restaurants in emerging economies and adoption of take away culture to suit the need of convenience will drive the paper cups demand during the forecast period.
Increasing focus on developing recyclable, biodegradable and plastic free cups, high demand for packaged foods and incorporation of disposable products in online food delivery services will further accelerate the market growth.
Presence of fast food giants and rising awareness in western countries regarding harmful effects of plastic has boosted the adoption of paper cups in such region. Market players are emphasizing on penetrating emerging economies of Asia and Africa due to surge in opening of fast food joints, rise in millennial and working population and soaring popularity of dining out in these countries.
Emergence of online food services and adoption of on-the-go services will create opportunities for market growth. Increasing installation of modern vending machines in high crowd locations like railways and airport to provide better consumer experience will positively influence the market growth in upcoming years.
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
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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Key Segments Covered in Paper cups Market Study
- Up to 150 ml
- 151 to 350 ml
- 351 to 500 ml
- Above 500 ml
- Cold Beverage Cups
- Hot Beverage Cups
- Departmental Stores
- Online Sales
- Food service
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific
- Middle East and Africa
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