Arlington, VA, May 18, 2017 --(PR.com
)-- A latest report by IMARC Group, entitled “Paper Cups Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022,” finds that the global paper cups market has grown at a CAGR of 3% during 2009-2016, reaching a consumption value of 250 Billion units. Paper cups are used worldwide to serve food and beverages like tea, coffee, instant noodles, sweet corn, soft drinks, etc. Paper cups are coated with polyethylene to make them liquid resistant thereby increasing their durability. The coating also helps to weld the seams together. The paper cups are bifurcated into two types: hot and cold. Hot cups usually have a wax coating on one side of the cup, which is designed to withstand the heat. On the other hand, cold paper cups have the wax coating on both the sides, which prevents the paper from getting soggy. In recent years, paper cups account for half of the total global disposable cups consumption, followed by polystyrene foam cups and plastic cups. According to the report, the market is expected to reach a consumption value of 266 Billion units by 2022.
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The report has conducted a thorough evaluation of the market and finds that due to the global recession in 2009 and a resulting slowdown in food and beverage consumption, the paper cups market suffered a slow growth. However, 2010 onwards, the demand for paper cups has improved and the market has witnessed continuous growth. This improvement is brought about by a number of factors. The primary factor is expansion in the fast food industry which is highly dependent on disposable paper cups. The other places where paper cups serve an indispensable function include offices, hospitals, and large-scale organisations and institutions. Moreover, growing consciousness about hygiene and sanitation have also pushed people towards utilizing paper cups in public places. This can be seen as a result of its decomposable material which make paper cups eco-friendly and biodegradable. Along with this, paper cups can also be recycled from the pulp gathered from the old cups, thereby decreasing the damage done to the environment.
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The report has segmented the market on a regional basis. The regions covered in the report include North America, China, Asia-Pacific (excluding China), South America, Western Europe, Africa/Middle East, Central Europe and Russia/Eastern Europe. Currently, North America represents the largest market of paper cups accounting for a quarter of the total global share. The report also provides the details of the competitive landscape of the market with the key players being Benders Paper Cups, Huhtamaki, International Paper, Dart Container, Dixie and Go-Pak.
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