The global paper cups market size is expected to gain momentum owing to the increasing consumption of sustainable products during the forecast period. This information is published by Fortune Business Insights™ in an upcoming report, titled, “Paper Cups Market, 2023-2030.” They are disposable cups that are used to serve food and beverages. Consumers increasingly prefer these cups to save time and effort due to their hectic lifestyles, and busy schedules, as they do not require cleaning and can be readily tossed after use. The growing popularity of takeaway services and ready-to-eat food around the world has also influenced the need for disposable cups.
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List of Key Players Profiled in the Global Market for Paper Cups:
- Nippon Paper Industries Co. Ltd.
- Go-Pak UK Ltd.
- F Bender Limited
- The International Paper Company
- Dixie Consumer Products LLC
What does the Report Offer?
The paper cups market reports include detailed information on developing trends, market drivers, development opportunities, and market restraints that may affect the industry’s market dynamics. It consists of a product, application, and competition analysis and an in-depth examination of the market segments for food contact paper.
Paper Cups Industry Segments-
By product type, the market is segmented into hot paper cups and cold paper cups. On the basis of wall type, the market is segregated into single-walled cups, and double-walled cups. On the basis of application, the market is fragmented into the household, and commercial. Finally, by geography, the market is divided into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Drivers & Restraints-
Increasing Demand for Eco-Friendly Products to Stimulate Growth
The global paper cups market growth is expected to grow due to the increased demand for eco-friendly materials during the projected period. They are gaining popularity due to their availability in a variety of shapes and sizes, and the fact that they are sustainable. The development of biodegradable cups with waterproof linings produced from biomaterials derived from corn, sugarcane, or potatoes is anticipated to drive the market forward. Paper cups are suited for industrial decomposition because they are made of biodegradable materials. To address environmental concerns, these cups are projected to reduce the usage of plastic cups even more.
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REGIONAL INSIGHTS
Government Initiatives to Promote Growth in North America
North America is expected to hold the largest global paper cups market share during the forecast period. The rising government restrictions such as banning plastic packaging in the food industry, growing awareness of the necessity of paper cups, and a burgeoning food and beverage business, will promote paper cup sales in the region.
The Asia Pacific is expected to have a sizable share of the market. In China, rising tea and coffee consumption, and growing awareness of the destructive effects of plastic on the environment, have produced a favorable climate for the expansion of the market.
Negative Impact Caused During Covid-19 on the Market
The COVID-19 outbreak on the market is projected to be significantly impacted in the short term, as production has abruptly ceased, and the entire packaging supply chain has been disrupted due to the global shutdown. However, in the long run, with businesses returning to normal, and the food-service industry growing, the market is likely to recover in the coming years.
Competitive Landscape-
Manufacturers to launch Eco-friendly products to strengthen the market position
A growing number of businesses are looking to expand their manufacturing capacity and regional presence. This motivation drives them to engage in a variety of strategic activities, including collaborations, mergers, acquisitions, and partnerships.
Industry Development-
- January 2020: Lavazza Professional launched biodegradable, and recyclable cups for vending machines, manufactured using paper sources.
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