Paper Cups Market Size, Rising Impact of COVID-19, Growth Analysis, Opportunities and Overview Forecast to 2026

Market Insights Reports delivers key insights on the Paper Cups market in its latest report titled, “Paper Cups Market - Growth, Trends, COVID-19 Impact, And Forecasts (2021 - 2026)” provides an in-depth analysis of key players strategies, market growth, product demand, growth factors, technological innovations, regional outlook and global dynamics which includes drivers, challenges, and opportunities dominant in the industry. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.

The Paper Cups Market is expected to grow at a CAGR of 2.72% over the forecast period (2021-2026).

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Top Key Players in the Global Paper Cups Market: DART, Swastik Paper Convertors, DEMEI, Haoyuan Cups, Zhangchiyoudu, Anbao Paper, Zhongfu, Konie Cups, International Paper, Huixin, Far East Cup, Hxin, Kangbao Paper Cup, Lollicup USA, Letica, Grupo Phoenix, Eco-Products, JIALE PLASTIC, Xinyu Paper Cup, Koch Industries, Huhtamaki, Kap Cones, JIAZHIBAO and Others.

Industry News:

- In October 2019 - Genomelabs Bio Private Limited launched 'EAT CUP which is an eco-friendly and biodegradable cup made from natural grain products. The cup produced is itself edible making it suitable for any kind of beverage consumption.

- In May 2019 - Stora Enso introduces renewable paperboard cups. The cups have been produced without a traditional plastic coating and is designed for full fiber recovery. It is suitable for hot and cold drinking cups, as well as for ice cream packaging.

Key Market Trends

Emergence of Bio-Degradable Paper Cups is Expected to Drive Market Expansion

- Conventional paper cups are coated with Low-Density Polyethylene (LDPE) that is used for paper coating due to its high resistance to water and grease. These cups are suitable for being used in cups to carry juice, hot beverages, dairy and soft drinks. However, the difficulty of industrially decomposing synthetic polymer-coated paper cups has led to the rise of biodegradable cups with comparable performance.

- Poly Lactic Acid, a biobased thermoplastic polymer derived from renewable resources, is used in the lining of bio-degradable paper cups. The two major advantages for PLA coated cups are they do not require an additional step in recycling to separate the PE from the paper. When the recycling process is undertaken, PLA does not interfere with the process.

- Eden Springs recently introduced a fully compostable and biodegradable plant-based water cup, that can be used for both cold and hot beverage. Lavazza Professional introduced KLIX Eco Cup, a new recyclable and biodegradable product.

- However, the cost of PLA is higher as compared to synthetic plastics like LDPE, thus making it the primary restraining factor in its widescale use. This is expected to slow down the adoption of PLA coated cups as a majority of the end-user segments are small units with limited capital

Top Line Market Forecast:

Both Regional and Global sectors are included in the Outlook, with special breakouts for the NAM, European, MENA, and Asia-Pacific regions. The data covered is from 2015 to 2019 historically and from 2020 to 2026 forecasted, it also includes the impact of Covid-19 both on the short- and long-term prospects of the industry.

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Asia-Pacific to be the Fastest Growing Market for Paper Cups

- Asia-pacific has been continually experiencing growth in per-capita incomes along with rising urbanization. This coupled with a strong coffee and tea consumption culture is expected to drive the need for the use of paper cups in the future as convenience foods continue to rise in popularity in this region.

- This can be corroborated by having a closer look at the sales figures of Starbucks in the region. Revenue of Starbucks has quadrupled in Asia-pacific between 2013 and 2018, growing from USD 1.13 billion to USD 4.47 billion by 2018. In China alone, the company reported third-quarter revenue of CNY 1.54 billion higher than most expectations of analysts. The expansion of the market is further vindicated by the growth of Chinese coffee startup Luckin that announced plans to open 2,500 new stores and overtake Starbucks Corporation in the country.

- Major Asian markets like India are considered under-penetrated in terms of Softdrinks consumption. With the change in this data, the need for paper cups is also expected to increase. According to Varun Beverage, PepsiCo’s India bottling partner, the soft drink consumption in the country is expected to double by 2021 from 2019.

- Additionally, the ban on single-use plastics is expected to drive the growth in the use of paper cups in the region. Countries like Indonesia and Thailand are enforcing bans by 2020 and 2021 respectively. Further, China has instructed the restaurant industry of the country to reduce the use of single-use plastic items by at least 30%.

This Paper Cups Market report addresses:

- The Market size from 2016-2021

- Expected market growth until 2026

- Forecast of how market drivers, restraints, and future opportunities will affect

- Segment and regions that will drive or lead the market growth and why

- Comprehensive mapping of the competitive landscape

- In-depth analysis of key sustainability strategies adopted by market place

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Post Covid-19 Analysis:

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