PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1490130
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1490130
The global paper cups market is estimated to be valued at USD 10.58 Bn in 2024 and is expected to reach USD 13.38 Bn by 2031, growing at a compound annual growth rate (CAGR) of 3.4% from 2024 to 2031.
Report Coverage | Report Details | ||
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Base Year: | 2023 | Market Size in 2024: | US$ 10.58 Bn |
Historical Data for: | 2019 To 2023 | Forecast Period: | 2024 To 2031 |
Forecast Period 2024 to 2031 CAGR: | 3.40% | 2031 Value Projection: | US$ 13.38 Bn |
Paper cups have widespread applications across various end-use industries such as food service, institutional, and household. Changing consumer preferences towards ready-to-eat food and growing on-the-go consumption have been propelling the demand for paper cups globally. In addition, increasing availability of colorful and attractive paper cups through e-commerce channels and retail stores have boosted their adoption among households. Rapid urbanization coupled with rising disposable income has positively impacted the market growth over the past few years. However, stringent regulations regarding use of plastic and availability of alternatives, such as glass and porcelain cups, which may restrain the market expansion during the forecast period.
Market Dynamics:
The global paper cups market is driven by the growing fast food and QSR industry worldwide. Ready-to-eat food trend and increasing demand for on-the-go consumption among millennial have fueled food service establishments. This, in turn, has resulted in heightened use of paper cups by restaurants and cafes. Moreover, the wide availability of paper cups through various distribution channels coupled with product innovation in terms of sizes, shapes, and graphics has increased their adoption among households. However, stringent policies by governments aiming to curb plastic utilization act as a major restraint. Additionally, emergence of alternatives including glass, ceramic, and metal cups pose challenges to market growth. On the positive side, the growing e-commerce sector and improving retail infrastructure especially in developing nations present lucrative opportunities over coming years.
Key Features of the Study:
Detailed Segmentation-