Paper Cups Market is projected to reach a valuation of US$ 14 billion by 2033

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.

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.

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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.

Increasing Emphasis on Printed Paper Cups to Enhance their Aesthetic Appeal Worldwide

Printability has continuously been a key deciding factor for product acceptance. By using paper cups, it is easy to print logos of various beverage brands on their products. Colorful graphics would gain high attention, as compared to simple and plain products.

The importance is to have uniqueness and originality among key players. Brands want something that customers can link with, and which is unique to that specific brand. Key players are coming up with printed paper cups worldwide. Multi-color printing is another key trend in the paper cups market. Hence, the focus is expected to be on creating high-quality printed designs that modern consumers can relate to. Printability of paper cups is also being used as a marketing tool by beverage brand owners.

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Competition Landscape: Paper Cups Market

Few key players operating in the global paper cups market include Berry Global Group Inc., Huhtamaki Oyj, Georgia-Pacific LLC, Genpak, LLC, Pactiv LLC, Dart Container Corporation, Frugal Pac Limited, Grupo Phoenix Capital Limited, F Bender Limited, ConverPack Inc., and Sabert Corporation among others.

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

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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About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

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