The global recyclable cups market is set to experience a promising growth path with an anticipated value CAGR of 5.3%. As per a comprehensive study by Future Market Insights, the demand for recyclable cups remains strong, with an estimated valuation of US$ 450 million by the close of 2022. Looking ahead, with the projected CAGR, the market is on track to reach an impressive valuation of US$ 754.2 million.
This growth trajectory underscores the increasing consumer preference for sustainable and eco-friendly packaging solutions, driving the adoption of recyclable cups in various industries and highlighting the growing importance of environmental responsibility in packaging choices.
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Recyclable Cups market– Dynamics
There have been an increase in quick service restaurants over the past few decades due to consumers changing life style and food habits leading to a parallel rise in the demand for more hygienic packaging and serving materials and the trend is expected to continue over the forecast period thereby creating more opportunities for recyclable cups market. Recyclable cups are made from paper and plastic which gives it an extra advantage of being molded and designed to make the product attractive and visually appealing.
The recyclable cups are intended to reduce the environmental and health impacts caused by the use of traditional disposable cups made from materials hard to recyclable. The recyclable cups also helps the manufacturer in reducing the carbon footprint thereby reducing the cost of overall production. Attributed by these features, the recyclable cups market is anticipated to grow in terms of demand throughout the forecast period. However, the recyclable cups market is very fragmented in nature. The presence of local players and the offering of the products at comparatively lower prices tends to hamper the growth of multinational players in this market.
Region-wise outlook
The global recyclable cups marketis segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.
Over past few decades, North America has been an established market. However, due to stringent law implication on the disposable cups and consumer concern over health and hygiene are anticipated to drive the market of recyclable cups in North America. Asia Pacific with two emerging economies, China and India is expected to dominate the recyclable cups market over the forecast period. Asia Pacific have witnessed an increase in quick service restaurants over the past few years and the trend is expected to continue over the forecast period.
The major consumption of recyclable cups is anticipated to account from food service and food retail sectors, therefore, Asia pacific is expected to witness substantial growth in recyclable cups market between 2017 and 2027. However, revenue from the markets in Latin America and Middle Eastern countries is sluggish currently due to stagnant economy which is also expected to translate into lower demand for recyclable cups in these regions.
Key Players
The key players in recyclable cups market include Berry Plastics Corporation, Eco-Products, Inc., FrugalPac Limited., Paper Cup Company, Genpak, LLC., Huhtamaki Oyj, JAMES CROPPER PLC
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications.
The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
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Recyclable Cups market – Segmentation
On the basis of technology,
- Thermoformed molding
- Injection molding
On the basis of material type,
- Paper
- Plastic
- LDPE
- HDPE
- PLA
On the basis of product type,
- Printable
- Non-printable
On the basis of product type,
- Less than 200 ml
- 200 ml – 400 ml
- 400 ml – 600 ml
- More than 600 ml
On the basis of application,
- Food
- Dairy
- Beverages
On the basis of end use,
- Food service
- Food retail
Author:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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