Global Paper Cups Market to be Driven by the Booming Tea and Coffee Segment in the Forecast Period of 2021-2026
The new report by Expert Market Research titled, ‘Global Paper Cups Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global paper cups market, assessing the market based on its segments like typestypes, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020):
The paper cups market is being driven by the increasing consumption of beverages, especially tea and coffee. Tea and coffee have a potential to boost the immune system, fight-off inflammation and can even prevent heart diseases and cancer. Usually, people prefer consuming a cup of hot coffee or tea when they need a push for the day. Therefore, this factor is aiding the market growth as paper cups serve as a convenient option for on-the-go beverages. The growing popularity of the product can also be attributed to the various advantages it offers. Paper cups are cheap and can be recycled. Sometimes, paper cups are ordered in bulk for house parties, restaurant chains, and hotels, among others. Over the forecast period, the market will further be aided by the rising popularity of desserts, expresso, cappuccino, and ice tea, among others.
Industry Definition and Major Segments
A paper cup is a disposable cup made of thin paper or cardboard and is carefully coated so that the food item or beverage doesn’t leak out. The product is eco-friendly, cost-effective and can be recycled. It is widely used for serving drinks such as coffee, tea, cold drinks, and others and can also be used for domestic purpose.
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On the basis of type, the market can be divided into:
- Hot Paper Cups
- Cold Paper Cups
The wall type can be segmented as follows:
- Single Walled Cups
- Double Walled Cups
The product finds application in the following segments:
Among these, the tea and coffee segment account for the largest share in the market.
The regional markets for paper cups include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Among these, the Asia Pacific is the leading consumer of the product.
Market Trends
The global paper cups market is expected to be driven by the growing R&D activities by the key manufacturers towards recycling of the product, which is likely to be an important trend in the market. The increasing environmental conscious among the consumers is leading to the increased adoption of these biodegradable cups. Further, the stringent regulations by the government pertaining to the use of single plastic to curb environmental hazards is likely to enhance the product demand. Therefore, the replacement of plastic cups by paper is expected to further aid the market growth.
Key Market Players
The major players in the market are F Bender Limited, Huhtamäki Oyj , Nippon Paper Industries Co., Ltd., The International Paper Company, Dart Container Corporation, Dixie Consumer Products LLC, and Go-Pak UK LTD, among othersThe report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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