Future Market Insights, a leading provider of market intelligence and consulting services, has released updated projections for the PLA (Polylactic Acid) cup market, forecasting steady growth from 2024 to 2034. The market is expected to exhibit a compound annual growth rate (CAGR) of 4.5% over the next decade.
In 2024, the PLA cup market is anticipated to be valued at USD 184.3 million, marking a significant increase of approximately 5.2% from its 2023 valuation of USD 175.2 million. Looking towards 2034, the market is projected to grow nearly 1.5 times to reach USD 286.2 million.
PLA cups, renowned for their eco-friendly properties and biodegradability, are increasingly favored over conventional plastic alternatives due to growing environmental concerns and stringent regulations. The market’s growth trajectory is underpinned by rising consumer preference for sustainable packaging solutions across various sectors including food and beverage, healthcare, and personal care.
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Key Takeaways from the Market Analysis
- The global PLA cup market was valued at US$ 147.1 million in 2019.
- From 2019 to 2023, the PLA cup market experienced a CAGR of 3.60%.
- The United States PLA cup industry is anticipated to develop with a 2.7% CAGR from 2024 to 2034.
- PLA cups will be used for foods and beverages having a capacity of 8 to 14 oz, with a 36.2% market share in 2024.
- PLA cups are widely to be used in food service outlets, with a 47.4% market share in 2024.
“Environmental implication of the conventional plastic cups and consumer trend towards biodegradable cups is propelling the growth in the PLA cup market,” – says an FMI analyst.
Competitive Landscape
Sourcing of raw materials is a key tactic by which the market players can achieve a competitive advantage in the global market. They are launching packaging materials completely manufactured from sustainable, renewable and natural materials.
For example, EnviroWare® launched by Celebration Paper & Plastics Ltd. is 100% eco friendly in nature. These packaging materials are also commercially compostable and compliant with EN13432.
FSC® (Forest Stewardship Council®) certified materials are another thing market players and startups can turn to. These products are made out of wood based products and cause no harm to the environment.
Key Development
- In 2024, Eco-Products introduced new sandwich wraps, paper bags, and other items to its GreenStripe range of compostable products. The versatile, innovative products are manufactured with no-added PFAS. These products are also certified by the Biodegradable Products Institute as compostable in various commercial facilities.
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More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the PLA cup market, providing historical data for 2019 to 2023 and forecast statistics from 2023 to 2033.
To understand opportunities in the PLA cup market, the market is segmented on the basis of capacity (up to 7 oz., 8 to 14 oz., 15 to 20 oz., above 20 oz.), sales channel (online, offline), end use (food service outlets (hotels, cafes), institutional (private institutes, malls & multiplexes, household) and region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, Middle East & Africa)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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