by Paper cups are finding wide applications in the food service industry owing to their advantages such as easy storage, low cost, and ease of disposal. Paper cups are easily available at food joints including fast food chains, coffee shops, restaurants, and at offices for holding a variety of beverages and food items. The growing food service industry around the world owing to busy lifestyles and out-of-home consumption is fueling the demand for paper cups.
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:
One of the key trends driving the growth of the paper cups market is the increasing adoption of paper cups by QSR chains and coffee shops. The ease of use and cost-effectiveness of paper cups compared to other materials have allowed their widespread adoption across the fast food sector. For instance, major QSR chains such as McDonald’s, KFC, Starbucks, and Dunkin’ brands use paper cups for serving beverages and food items at their outlets globally. This large-scale usage of paper cups by popular food service brands enhances their brand visibility and drives their overall demand. Furthermore, the growing number of coffee shop and QSR chain outlets worldwide is augmenting the consumption of paper cups, which is expected to continue over the forecast period.
Segment Analysis
The global paper cups market is segmented on the basis of material type, wall thickness, end-use, and region. Based on material type, the paper cups market is segmented into hot paper and cold paper. The cold paper sub-segment dominates the market as cold paper cups are readily available in the market and are cost-effective. Based on wall thickness, the market is divided into single wall, double wall, and triple wall. The single wall paper cups hold the largest market share owing to lower price as compared to double wall and triple wall paper cups.
Key Takeaways
The Global Paper Cups Market Share is expected to witness high growth over the forecast period due to increased consumption at quick service restaurants, food chains, and cafes. 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 and is expected to maintain its lead over the forecast period. This is attributed to growing fast food chains and quick service restaurants in the region. Asia Pacific region is expected to witness the fastest growth driven by increasing per capita income and growing population in developing nations such as India and China.
Key players:
The paper cups market is moderately fragmented with the presence of multiple segments. Key players operating in the paper cups market are Graphic Packaging International, Dart Container Corporation, Huhtamaki, Genpak, and other regional players. Graphic Packaging International dominates the market share owing to its large product portfolio and wide distribution network across regions.
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Source: Coherent Market Insights, Public sources, Desk research
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