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The global plastic cups market is projected to grow from an estimated value of USD 12.6 Billion in 2020. The growth in the industry is expected to be driven by the increased demand for quick service restaurants (QSR) from the urban markets. Increased disposable incomes, as well as changing food trends, are also expected to increase the demand for plastic cups in the coming years. Due to the rising beverage industry, the Asia Pacific is expected to see a rapid growth in the next few years. Metropolitan areas are the main drivers of the plastic cups market growth in the region owing to the massive penetration of cafés and restaurants and the global fast-food chains in tier 1 as well as tier 2 and 3. The key drivers of growth in the Asia Pacific industry are countries such as China, Japan, and India, who are supported by their economic growth as well as the rising workforce.
The market is also being driven by the rising product diversification by the key players in the market. In the year 2018, Dart Container Corporation, one of the key players, added a wide range of plastic cups to their collection. This new addition included MicroGreen™? PET insulated cups and Solo®? Ultra Clear™? New 12 oz Squat PET Cup. Plastic cups are also widely available on Amazon (NASDAQ: AMZN) and Walmart (NYSE: WMT), among other major distribution channels, further aiding the market growth.
Market Analysis by Nature, Type, Raw Material, Distribution Channel, Application, End Use, and Regions:
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The major players in the global plastic cups market are Huhtamäki Oyj, Georgia-Pacific Consumer Products LP., Dart Container Corporation, Greiner Packaging International GmbH, Berry Global Inc., Cosmoplast Ind. Co. (L.L.C.), and Day Young Enterprise Co., Ltd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
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