January 11, 2023 11:30 AM ET |Source: GreyViews GreyViews
Pune India, Jan. 11, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the paper cups market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the paper cups market are present across various countries in the above-mentioned regions. Coffee Paper Cups With Lids
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the type, wall type, end-user, and regions. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs. The significant players operating in the global paper cups market are Conver Pack, Inc, Dart Container Corporation, Georgia-Pacific, F Bender limited, Huhtamaki, Konie Cups International, Inc, Genpak, LLC, Graphic Packaging International LLC, Kap Cones Pvt. Ltd., Grupo phoenix, Jiangsu Xinyu Bio-Tech Co., Ltd., Eco-Products Inc, International Paper, Detmold among others. To achieve a substantial market share in the worldwide paper cups market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures. The paper cup is a disposable cup that is typically used to consume food and beverages such as tea, coffee, soft drinks, and soups. In order to increase the durability and performance of these cups, polyethylene, the most common plastic resin, with which the paper cup is coated, prevents condensed moisture from soaking in and retaining flavour. Globally, disposable paper cups are preferred by consumers because of the hygiene factor, easy disposal, and the increase in on-the-go consumption. In order to meet the demand for eco-friendly and completely biodegradable disposable paper cups, paper cup manufacturers have been focusing on product innovation and expansion through sustainable manufacturing methods, resulting in a growing market for biodegradable paper cups in cafeterias, quick-service restaurants, and other catering services. Additionally, quick-service restaurants are partnering with food chains, generating a larger demand for paper cups. The global market for smart packaging solutions is expected to grow rapidly over the forecast timeframe, resulting in bright market opportunities. The technology used in smart packaging includes antimicrobial materials and temperature control packaging, desiccants and oxygen scavengers, labels, and devices that monitor the environmental conditions to ensure the product's safety, creating new opportunities for the market growth across the world.
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Scope of Paper Cups Market Report:
Hot beverage paper cups are expected to be the fastest-growing segment in 2022.
The type segment is hot beverage paper cups and cold beverage paper cups. The hot beverage paper cups segment is expected to witness the highest growth rate during the forecast period. Over the forecast period, hot paper cups are expected to dominate the global market owing to the growing demand for coffee, tea, and hot chocolate worldwide. These paper cups are partly coated with PE resins to make them anti-blocking and thermally insulating.
Double-walled is expected to be the fastest-growing segment in 2022.
The wall-type segment includes single-walled and double-walled. The double-walled segment is expected to witness the highest growth rate during the forecast period. The double-walled cup is more comfortable to handle when serving hot liquids, such as tea or coffee, as it has two layers of paper and an air gap between them. Thus, double-walled paper cups are frequently used to serve hot beverages, and their use is on the rise as hot beverage consumption increases.
The commercial is expected to be the fastest-growing segment in 2022.
The end-user segment includes commercial, industrial, and household. The commercial segment is expected to witness the highest growth rate during the forecast period. As a result of the increasing penetration of quick-service restaurants and popular coffee chains throughout the world, the commercial segment led the global paper cup market with remarkable revenue share, which is expected to continue throughout the forecast period.
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the paper cups market include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The Asia Pacific region witnessed a major share. The paper cups market is mostly driven by Asia Pacific's growing population, rising disposable income, and increased demand for food and beverage goods. Paper cups are expected to see an increase in sales as a result of increasing government initiatives to reduce the environment associated with plastic, such as banning plastic packaging for the food industry, growing consumer awareness about the importance of paper cups, and a growing food and beverage industry.
Germany's paper cups market size was valued at USD 0.46 billion in 2022 and is expected to reach USD 0.66 billion by 2030, at a CAGR of 4.7% from 2023 to 2030. Paper cup carriers are expected to be significantly influenced by the beverage industry, which is expanding and becoming more active in the country, in the next few years. A variety of well-known businesses is offering a selection of paper cup carriers to meet the growing demand for beverages to be consumed on the go throughout the country.
China’s paper cups market size was valued at USD 0.59 billion in 2022 and is expected to reach USD 0.86 billion by 2030, at a CAGR of 4.9% from 2023 to 2030. As a way to reduce their carbon footprint, leading coffee and tea houses in China are promoting the use of biodegradable cold and hot beverage cups. A growing awareness of the harmful effects plastic has on the environment in China has created a conducive environment for the growth of paper cup markets.
India's paper cups market size was valued at USD 0.45 billion in 2022 and is expected to reach USD 0.65 billion by 2030, at a CAGR of 4.8% from 2023 to 2030. India's market is growing because of global travel, which has resulted in major automobile manufacturers increasing production over the past years, due to the excellent properties of wire insulation and jacketing compounds, such as their hardness and recyclable properties, which are used in various automotive applications. Covid-19 Impact Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven owing to the rising demand for biodegradable cups in order to protect the environment from the harmful effects of plastic cups, propelling the growth of the market across the countries.
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