August 23, 2022 09:22 ET | Source: ReportLinker ReportLinker

New York, Aug. 23, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Paper Cups Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" - https://www.reportlinker.com/p06187422/?utm_source=GNW Many cafes and restaurants have shifted towards carry-out only or curbside pick-up. Some limited their in-store capacity and implemented creative delivery services to ensure food delivery during the lockdowns. This is expected to create significant demand for paper cup solutions across the food and beverage industry. In a few places, due to the pandemic, the ban on single-use plastics has been temporarily lifted, as consumers are reluctant toward reusable packaging products due to the threats of infection. Hence, paper is considered crucial as the world went to lockdowns to help limit the spread of the coronavirus. This is primarily because paper is considered a viable packaging product due to the increasing demand for hygiene products. Key Highlights Paper cups have gained wide acceptance owing to their significant properties, such as easy-to-use, hygienic, safe, and other functionality. They also meet the needs of modern life cost-effectively. According to the Green match 2021, 16 billion paper cups are used for coffee every single year. One of the major factors driving the market growth is the rising demand for paper cups in the increasing trend of consumption of on-the-go beverages. Consumption on the go has continuously increased alongside rising urbanization, which is associated with frenetic habits. According to IPI Aseptic Packaging, more than half of the world’s population already lives in cities and towns, and by 2050, this percentage is expected to rise to two-thirds. This is probably going to increase the demand for handy, time-saving products as well as on-the-go consumption. It is particularly clear in developing nations in Asia, Latin America, and the Middle East, where workers frequently have lengthy commutes and little time to eat and drink at home since infrastructure development frequently lags behind economic growth. The ban on single-use plastic regulation that came into effect in 2022 in India is expected to significantly affect the use of plastics in the end-user industries, like food and beverage, where they have been extensively used in bags, bottles, and straws, cups, and containers. According to the ASSOCHAM, glass and rigid plastics constitute about two-thirds of packaging in the beverage sector in India. The regulations are also expected to affect pharmaceutical packaging, where extensive use of plastics is made. Thus, the paper cups market is expected to witness significant growth, especially in the food and beverage sector in the forecasted period. Due to the entry of multiple competitors in the emerging regions, the competitive environment of the paper cup industry is getting more and more fragmented. In contrast to developing nations, the market in industrialized countries is still highly consolidated. The players operating in the market are entering into partnerships and collaborations to strengthen their product portfolio further. For instance, Essity’s Torkbrand announced in October 2021 that its logistics partner HAVI would manage a recycling initiative that entails turning McDonald’s beverage, milkshake, and ice cream cups into hygiene paper. The pilot program will take place in Germany. The 2020 pilot program, according to the firms, proved that paper cups could be shredded and used as feedstock in certain of Essity’s mills. This allegedly suggests that Torktoilet paper is produced using McDonald’s paper cups. Acquisitions, partnerships with industry participants, and new product/service rollouts have been key competitive strategies exhibited by vendors in the market studied. The biodegradability of paper cup products has led to a gradual shift in the market from plastics share in the away-from-home segment. The COVID-19 pandemic has limited the operations of various industries and harmed a number of businesses globally. Because of people’s growing hygiene concerns, the pandemic has had a beneficial effect on the paper cup business and boosted the demand for disposable plates, cups, and bowls. To prevent COVID-19 infections, people limit themselves from sharing their personal items with others, including meals. However, the production of paper cups had been hampered by the lack of raw material supplies. Moreover, the market for throwaway paper cups was greatly impacted by government lockdowns and the growing trend of working from home. Key Market Trends Rising Demand for on-the-go Consumption of Beverages The beverage industry is growing and becoming more dynamic around the world, and it is expected to play a significant role in driving the market for paper cup carriers. Several prominent companies are supplying a variety of paper cup carriers to fulfill the rising demand for on-the-go beverages across regions. In addition, the option of ordering beverages for takeaway and home delivery has grown in popularity. Likewise, cup carriers that are both long-lasting and attractive are observed to be in high demand. Retailers, on the other hand, are expected to increase paper cup consumption as multiple partnerships to increase footfalls, and the lead customer experience in terms of on-to-go consumption is observed. For instance, in November 2021, Costa Coffee and M&S Food formed a new partnership to provide UK customers with a dining and on-the-go experience. The latter firm attributed the partnership to an expansion of its current food offering and helped Costa become the go-to place for people looking for food and coffee on the go. It is not unexpected that more and more meals and drinks are being consumed on the go, and this trend doesn’t appear to be slowing down. According to the IPI AspecticPackaging company, more than 40% of global consumers drink on-the-go at least once a week, with fortified milk, sipping yogurt, and energy drinks among their preferred options. People’s attitudes about beverage intake are being significantly influenced by the on-the-go lifestyle and the growth of healthy drinks. Customers are increasingly looking for functional beverages in straightforward packaging that can reflect their way of life today. This is where paper cups come into the picture. Quick service restaurants are serving beverages in paper cups to consumers nowadays. Paper cups with resealable tops that are eye-catching, simple to use, comfortable to hold, and that fit in customers’ handbags are typically the best packaging for on-the-go consumption. When placed inside a backpack during the day, the bag must be both lightweight and durable enough to safeguard the beverage. Asia Pacific to be the Fastest Growing Market for Paper Cups Packaging demand for paper cups in the region dominates firstly due to the comparative population and secondly because of away from home consumption rising across Central and Southeastern Asia. For instance, according to data published by Vietnam Pulp and Paper Association (VPPA), the consumption of paper for packaging in the country during the month of May 2021 stood at 404,711 tons, which was slightly down (4%) compared to the previous month. Various paper Cups packaging vendors operating in the region are optimistic about their prospects in 2021 and the following years, owing to Vietnam’s stable business situation. Moreover, according to SSI Securities Joint Stock Company, in Vietnam, the consumption of paper packaging is expected to increase by 12% during the forecast period due to continuing urbanization. These are the positive aspects that let the paper cup packaging grow. In India, the government announced a ban on the application of single-use plastics that got enforced by July 1, 2022. Growing awareness among consumers about negative effects of plastics on the environment is playing a vital role in purchasing behavior. Corn starch is among the most commonly usedsubstitute for plastic packaging. Also, leading online food delivery systems are also switching to corn starch packaging to promote an eco-friendly brand image. For instance, Shiva Food Packaging, an Indian company, offers superior quality Cornstarch Clamshell Food Container, which is widely used to serve food products on various occasions. This food tray is manufactured at its production facility using the corn starch raw material, which is eco-friendly in nature. The company also supplies packaging products to all wholesalers and suppliers all over the world in various shapes and sizes. It also claims to be an eco-friendly product that is 100% biodegradable and compostable. Therefore, a potential opportunity for the growth of this niche market has opened up in India in the wake of current trends. Starting from January 2021, the Chinese government prohibited the use of single-use and non-biodegradable plastics in eateries. The move is intended to encourage the usage of environmentally friendly products and lifestyles. The government is also making investments in paper recycling. These factors are formulating a promising and innovative market for paper cups. Competitive Landscape The competitive landscape of the Global Paper Cups Market is becoming increasingly fragmented, leading due to the entry of several small players in the emerging markets. In the developed economies, though, the market remains relatively consolidated as compared to developing economies. Some of the recent developments in the market are as follows: - September 2021 - Tekni-Plex has completed its acquisition of rigid packaging solutions leader Grupo Phoenix, putting the company in a stronger position to broaden its market-focused, customer-driven innovations, especially in food and beverage markets. May 2021- Graphic Packaging Holding Company stated that its successful partnership with International Paper Company came to an end. International Paper’s membership interests in Graphic Packaging International’s partners were exchanged for an equal number of shares of Graphic Packaging’s common stock in the last installment. As a result, Graphic Packaging owns the partnership entirely. Additional Benefits: The market estimate (ME) sheet in Excel format 3 months of analyst support Read the full report: https://www.reportlinker.com/p06187422/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________