Global Paper Cups and Paper Plates Market 2018, Demand by Regions, Share and Forecast to 2023
This can be accredited to rising health and sanitation awareness and growing demand from the food service sector.
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The latest report by IMARC Group, titled “Paper Cups and Paper Plates Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, finds that the global paper cups and paper plates market reached a value of more than US$ 104 in 2016. Paper cups and paper plates are disposable containers made of paper and are lined with wax or plastic to prevent leaking or soaking of the liquid through the paper. Coating paper cups and plates with polyethylene increases their performance and durability, and helps in retaining moisture and flavour. These cups and plates also possess the ability to provide air resistance, internal strength and stiffness. These properties make paper cups and plates highly user-friendly and have expanded their presence across the globe.
Highlights of the global paper cups and paper plates market:
The thriving food service sector industry remains the key growth-inducing factor.Paper cups dominate the market, representing the most popular product type.Asia Pacific is the leading market holding the largest share globally.
Packaging is a critical aspect of the food service sector where paper cups and plates are extensively used for serving and packaging various foods and beverages due to their light-weight and low cost. Therefore, the growing food service sector is fuelling the demand for paper cups and plates globally. Moreover, manufacturers are also coming up with improved product variants, such as paper cups and plates with advanced substrate technology, so as to prevent contamination of packaged food items by grease and oxygen. Apart from this, rising concerns regarding sanitation and hygiene driven by urbanisation and increasing health awareness have encouraged people to opt for disposable cups and plates instead of the reusable cups and plates. Furthermore, they are biodegradable and recyclable as opposed to plastic, which has positively influenced the market. In line with this, the governments of many regions are also encouraging the use of environment-friendly substitutes in the market. Owing to the aforementioned factors, the market is expected to exceed US$ 118 by 2022, exhibiting a CAGR of more than 2% during 2016-2022.
On the basis of type, paper cups represent the largest product type, accounting for the majority of the total share. This can be attributed to the preference of ‘to-go’ beverages by the consumers in most cafés. Paper cups are followed by paper plates. Region-wise, Asia-Pacific dominates the market, followed by North America. Other major regions include Europe, Latin America, and the Middle East and Africa. On evaluating the competitive landscape, it is found that Dart Container, Huhtamaki, Pactiv LLC, Letica Corporation and Georgia Pacific are the key players operating in the market.
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The report by IMARC Group has examined the global paper cups and paper plates market on the basis of:
Paper cupsPaper plates
Asia-PacificNorth AmericaEuropeLatin AmericaMiddle East and Africa
Dart ContainerHuhtamakiPactiv LLCLetica CorporationGeorgia Pacific
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