The new report by Expert Market Research titled, ‘Global Plastic Cups Market Report and Forecast 2023-2028’, gives an in-depth analysis of the global plastic cups market size, assessing the market based on its segments like nature, types, raw materials, distribution channels, applications, end uses, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2021): USD 14.2 billion (Global Disposable Cups Market)
- Forecast CAGR (2023-2028): 5.8% (Global Disposable Cups Market)
- Forecast Market Size (2027): USD 20 billion (Global Disposable Cups Market)
The global plastic cups market is being driven by the thriving disposable cups industry. The increased demand for disposable cups for chilled and hot foods and beverages has been providing an impetus to the plastics cups industry. The plastic cups can either be single use or could be used multiple times. They can also be made from recyclable materials.
Over the forecast period, the flourishing ice-cream industry is expected to propel the demand for plastic cups owing to the rising popularity of new, innovative flavours. Further, fast-food stalls and quick service restaurants require bulk quantities of plastic cups. Therefore, the expansion of the fast-food chains in developed as well as developing economies is projected further aid the market growth in the forecast period.
Industry Definition and Major Segments
Plastic cups are the containers made of plastic and are commonly used in the food and beverages industry. The product can store hot or cold food and beverages. Plastic cups can either be single use or could be used multiple times.
By nature, the plastic cups industry can be segmented into:
Based on type, the market can be segmented into:
- Heavy Duty, Hard Wall
- Heavy Duty, Flexible
- Thin Wall
The major types of raw materials used in the market include:
- Polylactic Acid (PLA)
- Polypropylene (PP)
- Polystyrene (PS)
- Polyethylene Terephthalate (PET)
- Poly Vinyl Chloride (PVC)
The distribution channels of the product are following:
On the basis of application, the market can be segmented into:
- Chilled Food and Beverages
- Hot Food and Beverages
The significant end uses of the product include:
- Ice Cream Industry
- QSR and Other Fast Food Shops
- Offices and Educational Institutions
- Residential Use
On the basis of regional markets, the industry is divided into:
1 North America
1.1 United States of America
2.2 United Kingdom
3 Asia Pacific
4 Latin America
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.4 South Africa
The growing popularity of beverages, dairy products, and fast-foods is likely to be the key trend driving the growth of the plastic cups market. Plastic cups are cheap and convenient for those who lead a busy and hectic lifestyle. Products like ice cream, waffles, pancakes, ready-to-eat noodles, and yogurt, among others require plastic cups for packaging and serving.
These items are likely to experience a significant demand especially among children after the ease of lockdown and recovery of various sectors in the post-COVID days. Therefore, this factor is expected to propel the market growth in the forecast period. Furthermore, the growing R&D activities towards efficient recycling of the product is anticipated to further bolster the market growth.
Key Market Players
The major players in the 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 report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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