Global Paper Cups Market Trends, Key Players, Product Scope, Growth Rate Outlook, Challenge and Forecast to 2024

In recent years, the global paper cups market has witnessed steady growth. This can be attributed to the rising hygiene awareness among consumers, burgeoning food and beverage industry, and implementation of the ‘Clean Seas’ campaign by the UNO.

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According to the latest market research report by IMARC Group, titled “Paper Cups Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global paper cups market reached a volume of about 316 Billion Units in 2018, exhibiting a CAGR of nearly 3% during 2011-2018. Paper cups are disposable cups lined with a layer of plastic or wax which prevents liquids from soaking through or leaking out of the paper. These cups are exposed to high heat during the manufacturing process which kills harmful bacteria, thereby making them sterile. Owing to hectic lifestyles and long working hours, consumers nowadays are shifting from non-disposable utensils to paper cups so as to save their time. This shift, coupled with the emerging trend of takeaway services, is influencing the growth of the paper cups market across the globe.

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Market Trends:

With rapid urbanization and rising health awareness, the demand for paper cups has increased in the past few years as they are relatively hygienic in nature over their re-usable substitutes. Moreover, the United Nations Organization (UNO) introduced the ‘Clean Seas’ campaign in 2017 for minimizing litter in water bodies. The campaign has encouraged governments worldwide to start awareness campaigns for their citizens and implement stringent policies to reduce the use of plastics. For instance, the governments of France and India have implemented regulations to discontinue the use of plastic cups and promote the adoption of eco-friendly substitutes like paper cups. Further, inflating income levels have increased the demand for fast food and beverages like noodles, soups, tea, coffee and aerated drinks which are contributing to the growth of the paper cups market. By 2024, the market for paper cups is projected to exceed 356 Billion Units, expanding at a CAGR of around 2% during the forecast period.

Market Segmentation:

Market Breakup by Cup Type:

1. Cold Paper Cups

2. Hot Paper Cups

According to industry analysis, the market is bifurcated on the basis of product types into cold and hot paper cups. At present, hot paper cups dominate the market as they are used for consuming hot beverages and food items such as tea, coffee, soup and noodles.

Market Breakup by Wall Type:

1. Single Wall Paper Cups

2. Double Wall Paper Cups

On the basis of wall types, the market is divided into single and double wall paper cups. Presently, single wall paper cups represent the biggest segment, accounting for the biggest market share.

Market Breakup by Application:

1. Tea and Coffee

2. Chilled Food and Beverages

3. Other Food and Beverages

Based on applications, the paper cups market is segmented into tea and coffee, chilled food and beverages, and other food and beverages. Currently, tea and coffee represent the largest segment as they are widely consumed across the globe.

Market Performance of Key Regions:

1. Asia Pacific

2. North America

3. Europe

4. South America

5. Middle East and Africa

Region-wise, the market has been segmented into Asia Pacific, North America, Europe, South America, and Middle East and Africa. Amongst these, Asia Pacific is the leading market, holding the majority of the global share.

Competitive Landscape:

The competitive landscape of the industry has been examined in the report with detailed profiles of the key players operating in the global market.

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This release was published on openPR.