Paper Cups Market is Projected to Expand at a CAGR of 4.0% During 2018 - 2027
VALLEY COTTAGE, New York, December 6, 2018 /PRNewswire/ --
Future Market Insights delivers vital insights on the paper cups market in its report titled "Paper Cups Market: Global Industry Analysis 2013 - 2017 and Opportunity Assessment 2018 - 2027". In terms of revenue, the global paper cups market is projected to expand at a CAGR of 4.0% during the forecast period.
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The global paper cups market is segmented by geographical regions as North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, and Middle East & Africa (MEA).
The per capita paper consumption is relatively high in the North American countries, specifically in the U.S. and Canada. Along with this, the relatively high per capita expenditure on eat-out habits has attributed to the highest consumption of paper cups in North America as compared to the consumption of paper cups in other geographical segments. Awareness of the adverse effects of plastic has booted the market for paper cups and other paper-based foodservice disposable products. The relatively organised manufacturing sector in North America has resulted in the origination of a significant number of global key paper cups market players. However, the rapidly increasing production and demand for Poly Lactic Acid (PLA) and other bio-degradable plastic-based foodservice disposables have restrained the demand for paper cups, leading to a sluggish growth of the paper cups market in North America during the forecast period.
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Majority of the developed economies of the Western Europe region have made amendments to strictly avoid the use of plastics and promote alternate materials such as paper. This has attributed to the significant pace in growth of the paper cups market in Western Europe. The pulp and paper processing industry of Western Europe is not sufficiently capable of serving the large demand for paper cups in the region. Thus, raw materials for manufacturing paper cups such as, pulp or lumber, are imported in the region primarily from MEA and the Asia Pacific. Moreover, for serving hot beverages, consumer preference is rapidly shifting from plastic cups to paper cups.
The Asia Pacific region is estimated to account for around 60% of the global population. The rapidly developing countries such as India, China, and ASEAN countries are gradually adopting the western culture and habits, resulting in a rise in eat-out habits and expenditure per capita. Globalization in the region has resulted in a rapidly developing corporate culture, adding a driving factor to the institutional segment by end-user in the Asia Pacific paper cups market. These factors are attributed to propel the growth in demand for paper cups in the region, and further projected to create the highest incremental revenue opportunity in the global paper cups market. The key global paper cups market players are expected to target the Asia Pacific region for the expansion of paper cups business.
Preview Analysis of Paper Cups Market Segmented by (Cup Capacity - Up to 150 ml, 150 to 350 ml, 350 to 500 ml & Above 500 ml; Cup Type - Cold Beverage Cup & Hot Beverage Cup; Sales Channel - Supermarket/Hypermarket, Distributors, Departmental/Speciality/Discount Stores & Online Sales; End user - Foodservice, Institutional & Household;): https://www.futuremarketinsights.com/reports/paper-cups-market
In Eastern Europe, the manufacturing sector of Poland is rapidly developing leading to significant growth in the economy of the country. The extremely cold weather of the region has driven the demand for hot beverages, which are preferably served in paper cups at institutes and foodservice outlets. Various developments introduced in paper cups, such as, double-wall paper cups and thermal insulation paper cups are an ideal solution for serving hot beverages. The factors have attributed to the growth in the paper cups market in the Eastern Europe region. On the other hand, huge availability of plastics at economic prices in the region has restrained the demand for paper cups. The pulp and paper processing industry of the MEA region, specifically the GCC countries, is significantly large enough to serve the consumer and industrial requirements for paper products.
The key players operating in the global paper cups market include Dart Container Corporation, Georgia-Pacific LLC, Huhtamaki Oyj, Genpak, LLC, International Paper Company, Lollicup USA, Inc., Westrock Company, Pactiv LLC, Coveris Holdings S.A., Nippon Paper Industries Co., Ltd., Paper Cup Company, and Be Green Packaging, among many others.
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