Paper Cups Market is projected to exceed US$ 14 billion by 2033 with rising demand

As per a new report by Future Market Insights, the global paper cups market is projected to reach US$ 14 billion by 2033. A valuation of around US$ 10 billion is expected to be showcased by the market in 2023, while it is likely to exhibit a CAGR of 4.4% between 2023 and 2033.

Paper cups are a worthwhile alternative to plastic cups as paper material is cost-effective and provides a sustainable and disposable alternative to plastic material. Paper cups are primarily single-use cups, which is the main reason for using these cups.

These disposable cups are again segregated through various recycling methods, and the material is again reused for the formation of paper cups. The material of paper cups is a mixture of paper pulp, including bagasse and other natural material. There is no toxin left behind during the recycling process.

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Single-use paper cups are gaining attention in food service industry such as hotels, restaurants, and online delivery processes. These businesses require disposable plates, bowls, and cups for serving purposes. There are numerous opportunities that are likely to be created by ‘away-from-home’ consumption of beverages.

A fast-paced lifestyle has influenced food & beverage consumption patterns to a certain extent. This would create lucrative opportunities for growth in the paper cups market, which manufacturers must focus on.

In the next ten years, focus of manufacturers on the millennial population is likely to intensify. Surging millennial population is expected to be a key driver to expansion of the global paper cups market, as millennials have been known to experience nearly twice the number of away-from-home situations, as compared to adults.

To expand their businesses, manufacturers of paper cups must know what the modern consumer wants and anticipate how their preferences may change over time. Manufacturers of paper cups are expected to mainly focus on the design and appearance of their products to target specific consumers. For instance, high-quality printing on paper cups has a high consumer appeal.

Key Takeaways from Paper Cups Market

• By cup type, the hot beverage cups segment is likely to account for more than 65% of market share by 2023.
• In terms of cup capacity, the 151 to 350 ml segment is expected to generate the lion’s share in the global paper cups market by 2033.
• The food service industry by end user is anticipated to account for 3% of the global paper cups market share by 2023.
• Germany paper cups market is estimated to record a CAGR of 3% during the forecast period.
• The United Kingdom paper cups market is set to create an incremental growth opportunity of US$ 20 million in the next ten years.

 “Increasing popularity of paper cups owing to rising installation of vending machines in offices, recreational parks, shopping malls, and airports would drive sales in the global market. Key companies are likely to spend huge sums in the development of unique products to expand their portfolios,” says a lead analyst at Future Market Insights.

Get Exclusive Insights into the Paper Cups Market Report

Future Market Insights, in its new report, offers an unbiased analysis of the paper cups market, analysing historical demand from 2014 to 2022 and forecast statistics for 2023 to 2033. The study reveals market growth projections for the paper cups based on the cup capacity (up to 150 ml, 151 to 350 ml, 351 to 500 ml, above 500 ml), cup type (cold beverage cup, hot beverage cup), sales channel (supermarket/hypermarket, distributor, departmental/specialty/discount stores, online stores), and end user (food service, institutional, household) across seven regions.

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.

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 “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

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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