Paper Cup Market Report 2020: Size, Share, Price Trends, Industry Growth and Forecast till 2025
According to IMARC Group’s recently published report titled “Paper Cup Industry Trends, Market Share, Size, Growth, Opportunity and Forecast 2020-2025”, the market reached a volume of 264 Billion Units in 2019. Looking forward, IMARC Group expects the global paper cups market to continuously grow during the next five years.
Paper cups are disposable cups lined with a layer of plastic or wax which prevents liquids from soaking through or leaking out of the paper. These cups are exposed to high heat during the manufacturing process which kills harmful bacteria, thereby making them sterile. Owing to hectic lifestyles and long working hours, consumers nowadays are shifting from non-disposable utensils to paper cups so as to save their time. This shift, coupled with the emerging trend of takeaway services, is influencing the growth of the paper cups market across the globe.
Global Paper Cup Market Trends:
With rapid urbanization and rising health awareness, the demand for paper cups has increased in the past few years as they are relatively hygienic in nature over their re-usable substitutes. Moreover, the United Nations Organization (UNO) introduced the ‘Clean Seas’ campaign in 2017 for minimizing litter in water bodies. The campaign has encouraged governments worldwide to start awareness campaigns for their citizens and implement stringent policies to reduce the use of plastics. For instance, the governments of France and India have implemented regulations to discontinue the use of plastic cups and promote the adoption of eco-friendly substitutes like paper cups. Further, inflating income levels have increased the demand for fast food and beverages like noodles, soups, tea, coffee and aerated drinks which are contributing to the growth of the paper cups market.
Some of the major players operating in the industry include:
- The International Paper Company (NYSE: IP)
- Huhtamaki (HOYFF)
- Dart Container
- Go-Pak
- Benders Paper Cups
Explore Related Research Reports: https://www.imarcgroup.com/categories/packaging-market-reports
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