The paper cups market grew at a steady 4.5 percent CAGR between 2021 and 2031, reaching a valuation of roughly US$ 9210 million by the end of the year, owing to an increasing emphasis on enhanced consumer experience. Paper cup revenues increased by 4.3 percent year over year in 2021, according to Future Market Insights (FMI), owing to the advent of the COVID-19 pandemic and rising demand for on-the-go paper cups around the world.
According to FMI, the North American paper cups market will rise at a 3.7 percent CAGR over the projected period, owing to high paper cup manufacturing and exports from the United States, as well as rising demand for fast food restaurants in the region.
The paper cups market grew at a steady 4.5 percent CAGR between 2021 and 2031, reaching a valuation of $921 million by the end of the year, owing to a growing emphasis on a better consumer experience. Paper cup sales are expected to climb 4.3 percent YoY in 2021, according to Future Market Insights (FMI), because to the COVID-19 pandemic and growing demand for paper cups on the go around the world.
The rising fast-food business, combined with the hectic lifestyle of today’s generation, is the primary driver of paper cup demand.
This market research report on Paper Cups offers an in-depth examination of the existing state of the industry, current market potential, and future prospects. This market research report on Paper Cups also includes information on market analysis, market definitions, market segmentation, major development areas, competition analysis, and research techniques.
Paper-based packaging, such as paper cups and edible cups made from grains, has developed as a result of an increasing number of inventions substituting plastics with other materials. Beyond that, over the next few years, demand for paper cups will be driven by a focus on compostable food service packaging.
FMI’s Paper Cups Market Study Highlights:
As the modern food service business establishes itself in American urban areas, the United States will lead the paper cup market in the next years. Market expansion will be accelerated by rising disposable income and people’s busy lifestyles.
China will offer lucrative chances for the paper cup business to grow. The paper cup market will develop as recycling infrastructure improves, tourism grows, and tea and coffee consumption rises.