iCrowdNewswire Dec 31, 2020 5:00 AM ET
Global Disposable Paper Cups Market is estimated to be valued at USD 10,966.6 Million by 2025, registering a CAGR of 4.79% during the forecast period. Disposable paper cups are made up of paper and are lined with plastic or wax to find extensive usage in the food retail and foodservice sectors as they prevent leakage or soaking by paper. The prominent factor driving the growth of the market is the healthy growth of the food and beverage industry across the globe. Additionally, the increasing consumption of disposable paper cups in coffee and tea restaurants and for household purposes and regulations associated with the use of plastic-based products are also projected to boost the market growth. However, the growing unorganized sector is likely to hamper the global disposable paper cups market growth.
North America constituted a dominant share of the disposable paper cups market in 2018 owing to the growing foodservice sector in the region. The US followed by Canada are among the lucrative markets for manufacturers in the region. The restrictions associated with the consumption of plastic have further boosted the sales of disposable paper cups in North America. The market in Asia-Pacific is projected to record the highest CAGR during the review period. China accounted for the largest share of the Asia-Pacific disposable paper cups market in 2018 and is expected to retain its dominance during the review period. Other factors such as changing lifestyles and increasing spending capacity of the middle-class populace are expected to drive the growth of the disposable paper cups market in the region. The growing commercial sector in Asia-Pacific is expected to provide lucrative opportunities to disposable paper cups manufacturers in the coming years.
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Global Disposable Paper Cups Market has been segmented on the basis of Type, Application, Distribution Channel, and Region.
By type, the market has been divided into poly-coated paper, wax-coated paper, air pocket insulated, post-consumer fiber, and others. The poly-coated paper segment accounted for maximum market share in 2018, and the same is expected to register the highest CAGR of 5.50% during the forecast period. The low cost and versatility offered by poly-coated paper cups are likely to drive the growth of this segment during the forecast period.
By Application, the market has been divided into tea and coffee, chilled food and beverages, and others. The tea and coffee segment accounted for the maximum market share in 2018 and the same is expected to grow at the highest CAGR during the assessment period. According to MRFR, almost 71% of the American population consumes coffee daily. Also, the market for coffee in Europe is established. Asia is an attractive market owing to rapid economic growth and a large population base. Moreover, the young and upper-middle-class consumers in India are increasingly incorporating specialty teas, such as green and iced tea, into their lifestyles.
Based on Distribution Channel, the global disposable paper cups market has been classified as foodservice and food retail. The food retail segment is further bifurcated as supermarkets and hypermarkets, online, convenience stores, and others. The foodservice segment accounted for a larger market share in 2018. The food services segment includes hotels, restaurants, bars, cafés, and industrial settings and corporates. Disposable paper cups are increasingly used in the foodservice industry to serve cocktails, mocktails, coffees, and dairy products. Rising disposable incomes and rapid urbanization are driving the growth of the foodservice industry with an increasing number of consumers opting to dine out.
Key Findings of the Study
- The Global Disposable Paper Cups Market is expected to register a growth rate of 4.79% from 2019 to 2025. The growth of the foodservice sector and growing consumption of tea and coffee in emerging economies are projected to propel the growth of the global disposable paper cups market.
- The poly-coated paper segment is estimated to retain its prominent share by 2025. The poly-coated paper segment is anticipated to register a growth rate of 5.50% during the forecast period.
- The tea and coffee segment is estimated to retain its prominent share by 2025. The tea and coffee segment is anticipated to register the highest growth rate of 5.13% during the forecast period.
- The foodservice segment accounted for the largest market share in 2018 and is expected to grow at a rate of 5.15% during the forecast period.
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Geographically, the Global Disposable Paper Cups Market has been categorized as North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. As per MRFR analysis, North America dominated the market, accounting for the largest share in 2018. Whereas, Asia-Pacific is projected to register the highest CAGR of 5.88% during the forecast period. Europe disposable paper cups market accounted for the prominent market share in 2018.
Market Research Future recognizes Huhtamaki (Finland), Dart Container Corporation (US), Reynolds Consumer Products (US), Graphic Packaging International, LLC (US), Seda Group, Inc (Italy), Eco-Products, Inc. (US), Compagnie Européenne d’Emballage Robert Schisler (France), F Bender Limited (UK), DUNI AB (Sweden), Stanpac Inc (Canada), Geotegrity, Inc (China), Konie Cups International, Inc. (US), YesPac (US), and Lollicup USA Inc (US) as the Key Players in the Global Disposable Paper Cups Market.
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