The global paper cups market size was valued at US$ 5.5 billion in 2020. It is predicted to worth around US$ 9.2 billion by 2030 and is poised to grow at a noteworthy CAGR of 4.4% from 2021 to 2030.
The paper cups are made of cardboard and are disposable in nature. The paper cups are extensively used for the packaging and serving hot and cold beverages across the globe. The paper cups have a low-density polyethylene coating that helps to retain the original taste and aroma of the beverage. The rising concerns regarding the plastic wastes accumulation is a major factor that propels the demand for the paper cups across the global market. Moreover, the rising penetration of quick services restaurants along with the rising demand for the home deliveries is boosting the adoption of paper cups. The changing consumption habits, rising urban population and busy and hectic schedule of the consumers are driving the growth of the global paper cups market.
Crucial factors accountable for market growth are:
- Rising penetration of coffee chains and quick service restaurants
- Changing lifestyle of the consumers
- Busy and hectic schedule of the consumers
- Rising penetration of home delivery platforms
- Rapidly growing food and beverages industry
- Increasing government initiatives to reduces plastic wastes
- Rising consumer awareness regarding health and hygiene
- Development of organic, compostable, and bio-degradable paper cups
Post time: Jul-05-2022