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Global Plastic Cups Market is Expected to Grow at a CAGR of 8.2% between 2021 and 2026.

According to a new report by EMR titled, ‘Global Plastic Cups Market Report and Forecast 2021-2026’, the global plastic cups market is expected to grow at a CAGR of 8.2% in the forecast period of 2021-2026 and is projected to reach a value of USD 20.3 billion by 2026.

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:

  • Based on nature, the industry can be divided into disposable, non-disposable, and recyclable.
  • The types can be divided into heavy duty, hard wall, heavy duty, flexible, and thin wall, among others.
  • The raw materials can be categorised as polylactic acid (PLA), polypropylene (PP), polystyrene (PS), polyethylene terephthalate (PET), and poly vinyl chloride (PVC), among others.
  • The distribution channels include institutional and retail.
  • Plastic cups find their applications in chilled food and beverages, and hot food and beverages, among others.
  • The end-uses in the industry include the ice cream industry, QSR and other fast food shops, offices and educational institutions, and residential use, among others.
  • The regional markets for plastic cups include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global plastic cups market is being driven by the rapid urbanisation and increasing per capita incomes of the consumers across the globe.
  • The global working population has also witnessed an increase, which has led to higher standards of living among consumers, along with increasingly busy lifestyles. These factors are also driving the growth of the market.
  • The growing café culture and the rising penetration of fast food chains are also positively influencing the market.

Key Offerings of the Report:

  • The EMR report gives an overview of the global plastic cups market for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the nature, types, raw materials, distribution channels, applications, end-uses, and major regions of plastic cups.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

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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