by Paper cups are disposable cups made up of paper and are commonly used for serving beverages and food products. They are inexpensive, compostable, lightweight and provide insulation which keeps the drinks hot or cold for a longer duration. The growing food delivery and takeaway culture due to busy lifestyle has increased the demand for paper cups from food & beverage industry for serving items like coffee, juices, soups etc.
The global Paper Cups Market is estimated to be valued at US$ 98.81 Bn in 2024 and is expected to exhibit a CAGR of 24% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing demand from food & beverage industry is one of the key trends propelling the growth of global paper cups market. With increase in number of quick service restaurants, cafes, coffee shops and food delivery platforms, the consumption of paper cups have grown substantially over the years for serving hot and cold beverages as well as food items on-the-go. Paper cups are a cost-effective and convenient packaging solution for various food and beverage brands catering to online as well as offline consumers. The trend of remote working culture and online food orders during pandemic has further boosted the sales of paper cups over the past couple of years.
SWOT Analysis
Strength: Paper cups are cost-effective, affordable and easy to dispose of. They are lightweight and portable which make them ideal for on-the-go consumption.
Weakness: Paper cups lack durability and are not reusable. They also have low barrier properties which make them unsuitable for hot liquids. Production of paper cups involves usage of wood pulp which impacts the environment.
Opportunity: Increasing demand for convenience packaging from food chains and quick service restaurants. Growing acceptance of paper cups for events, parties and outdoor usage.
Threats: Strict environmental regulations around usage of paper cups. Rise in popularity of reusable alternatives like stainless steel, glass and bamboo cups.
Key Takeaways
The Global Paper Cups Market Size is expected to witness high growth over the forecast period of 2023 to 2030 supported by increasing urbanization and consumption of beverages and food away from home. The global Paper Cups Market is estimated to be valued at US$ 98.81 Bn in 2024 and is expected to exhibit a CAGR of 24% over the forecast period 2023 to 2030.
Regional analysis – North America dominates the global paper cups market currently with United States being the major consumer. Asia Pacific region is expected to be the fastest growing market attributed to growing middle class population and rising disposable incomes in countries like China and India.
Key players operating in the paper cups market are Graphic Packaging, Dart Container Corporation, Huhtamaki, Detpak, International Paper, Georgia-Pacific LLC, Magnum Packaging, Genpak LLC and other regional players. The market is consolidated with top players accounting for major share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
