Research Nester published a report titled “Reusable Coffee Cup Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global reusable coffee cup market in terms of market segmentation by material type, applications, distribution channels, end users, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global reusable coffee cup market is to grow at a CAGR of 5.8% over the forecast period, i.e., 2022-2031. On the basis of application, market is segmented into residential, office, travelling, hospitality and others. The residential segment is to produce a revenue of USD 14,889.8 million by the end of 2031. It is anticipated to grow at a CAGR of 6.1% over the forecast period. The segment garnered a revenue of USD 8,289.1 million in 2021. Increased use of tea and coffee by households is to drive the growth of residential segment.
The global reusable coffee cup market is to be driven on the account of increased coffee users, rising need to curb plastic waste, higher use of reusable cups, increased tourism and increased online delivery of food. The global reusable coffee cup market is estimated to garner a revenue of USD 24,858.0 Million by the end of 2031. Further, the market generated a revenue of USD 13,108.5 Million in the year 2019.
On the basis of region, the global reusable coffee cup market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst all, the market in Europe is expected to generate a revenue of USD 9,396.3 million by the end of 2031. It is expected to grow at a CAGR of 6.5% over the forecast period. In 2021, reusable coffee cup market in Europe was valued at USD 4,576.3 million in 2021. This growth is on the account of government introduced policy for restraining the use of single-use plastic, higher tourist counts in Europe and increased number of coffee shops.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Increased Volume of Plastic Waste and Crucial Need to Strain the Environment with Plastic is to Elevate the Market Growth
Reusable cups are the best substitute of plastic cups. It helps to reduce the plastic waste significantly. As per the data of UN Environment Programme, every year 400 million tons of plastic waste is produced. The rising concern for plastic pollution worldwide is therefore projected to generate numerous opportunities for the growth of the market during the forecast period.
However, people not carrying their cups around, risk of getting infected during COVID-19 and indefinite price of raw material are few factors which are expected to operate as key restraint to the growth of global reusable coffee cup market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global reusable coffee cup market which includes company profiling of Thermos L.L.C., GlobalWAKEcup, KeepCup, Circular&Co., Frank Green, Ecoffee Cup, Tread Light Ltd., Klean Kanteen, Tefal, Joco Cups, Keurig Green Mountain, Inc., YETI COOLERS, LLC. and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global reusable coffee cup market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.