In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.
Request InsightsPurchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively. Request Insights
IN THE NEWS· June, 2021: BillerudKorsnäs announced the launch of its new range of paper-based serving and packaging products SWAPP for the food & beverage industry.
The global paper cups market is estimated to grow at a CAGR of ~4.5% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the increasing use of paper cups for serving fast food and beverages to reduce plastic waste, along with increasing consumption of fast food. Owing to the fast-paced and busy lifestyle in urban settlements, people often prefer ready-made fast food. The growing demand for fast food has raised the demand for paper cups for serving or packing the food items, such as, coffee, bakery items, and others. Moreover, paper cups are also being extensively used in transportation industry for serving water, tea, coffee, and other beverages, which is estimated to boost the market growth. The growing population, combined with rising per capita income, will improve the ability of people to buy packaged food, which is anticipated to boost the market growth. Furthermore, paper is recyclable and biodegradable, which is a greener alternative to plastic cups, which is estimated to boost the market growth. According to the UN Environment report, only 9% of all plastic waste gets recycled, while over 79% gets dumped in water bodies or end-up in open garbage dumps.
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The market is segmented by type into air pocket insulated, poly-coated, wax-coated, and others out of which, the wax-coated segment is anticipated to hold a notable share in the global paper cups market over the forecast period on account of better durability of wax-coated paper for serving beverages. Moreover, wax-coated paper cups are more environment friendly than poly-coated paper cups, as they can be easily recycled, which is another major growth driver for the segment.
On the basis of geographical analysis, the global paper cups market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the growing fast-food industry in the U.S. and Canada, backed by the busy lifestyle of the citizen in these countries. As per the report by National Health and Nutrition Examination Survey, 36% to 40% people consume fast food on any given day in the U.S.
The market in Asia Pacific region is estimated to witness modest growth over the forecast period on the back of presence of major paper manufacturing companies in the region, supported by easy availability of raw material and cheap labor in the region. Moreover, the growing fast-food industry in the region, along with high consumer base for the food is estimated to upsurge the demand for paper cups in the region.
The global paper cups market is further classified on the basis of region as follows:
Our in-depth analysis of the global paper cups market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Eco-friendly nature of paper cups, along with increasing application in food and beverages industry is estimated to boost the market growth.
The market is anticipated to attain a CAGR of ~4.5% over the forecast period, i.e., 2022 – 2030.
Chemicals used in these cups could be harmful, which is estimated to hamper the market growth.
The market in the Asia Pacific is estimated to gain significant market share over the forecast period owing to the large consumer base of the region, along with growing environmental awareness amongst the people.
The major players in the market are Pactiv Evergreen LLC, Frugalpac Limited, Ecologic Brands Inc., JUST Goods, Inc., Choose Packaging, Nippon Paper Industries Co., Ltd., Genpak, LLC, WestRock Co., Coveris Holding S.A, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, paper type, application, and by region.
The food & beverage industry segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.
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