Paper cups market is likely to witness a promising CAGR of 3.1% during the forecast period, according to a report from Stratview Research.
COVID-19 pandemic – Boon or a Curse to the industry?
The outbreak of COVID-19 has severely impacted several industries across the world. Tough government measures such as lockdown of major economies, has pressed the ‘pause button’ for most of the industries. For most of the industries, the revenue has gone down in 2020 and has resumed an uptrend gradually from 2021.
Key insights on Paper Cups Market
Paper cups market is likely to witness a promising CAGR of 3.1% during the forecast period. The prime factor that is contributing to the demand for paper cups is the growing fast-food market coupled with busy lifestyle of the current era.
Asia-Pacific is estimated to contribute for the largest market share over the forecast period. The Asia-Pacific market is expected to grow with a lucrative CAGR due to growing disposable incomes and rising urbanization coupled with huge demand for coffee and tea in the region. North America is expected to account for a significant market share owing to ban on single use plastics for disposable cups.
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Report Scope & Market Segmentation
Paper Cups Market Share: By End-User Type
Based on the end-user type, the market is segmented as quick service restaurants, institutional, and others. The quick service restaurants segment held the largest share by end-user type in 2019 and is expected to maintain its vanguard owing to the rising trend of takeaway food coupled with regulatory guidelines to replace plastic disposable cups with paper cups in various countries.
Paper Cups Market Share: By Cup Type
Based on the cup type, the market is segmented as hot paper cup and cool paper cup. The cool paper cup segment is expected to grow with a higher CAGR over the forecast period owing to the growing adoption in serving cold beverages such as soft drinks and juices.
Paper Cups Market Share: By Wall Type
Based on the wall type, the market is segmented as single wall, double wall and triple wall. The double wall segment held the largest share in 2019 and is expected to maintain its leading position as it is a perfect blend of product quality and reasonable pricing. Ban on single-use-plastics in various countries will also boost the segmental growth.
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Which key questions will this report answer?
This market research report focuses to deliver relevant information regarding the market trends, structure and growth during the forecast period. It also offers insights into different market segments and other factors affecting the market.
Some of the key questions answered by the report are:
What is the impact of COVID-19 on the market forecast?
What are the trends, drivers, and challenges?
How competitive is the market? Who are the market leaders?
What are the key strategies adopted by the market players?
Which segments offer the greatest opportunities?
Which are the most attractive regions?
What are the key success factors for the market players?
How does the business environment impact the market?
Which strategic alliances have taken place recently and their significance?
Stratview Research’s reports are generated after accumulating data from various authenticated sources. > 10 primary interviews with industry experts are conducted by us for every report. Insights gained from primary interviews, in-depth analysis of company statements and annual reports, accompanied by a number of articles, whitepapers, and reports help us to connect the dots and triangulate the market in the most effective manner.
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