Aug 18, 2020 (SUPER MARKET RESEARCH via COMTEX) — The new report by Expert Market Research titled, ‘Global Plastic Cups Market Size, Share, Price, Trends, Report and Forecast 2020-2025′, gives an in-depth analysis of the global plastic cups market, 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 (2015-2025)
- Historical Market Size (2019): USD 14.2 billion
- Forecast CAGR (2020-2025): 5.8%
- Forecast Market Size (2025): USD 20 billion
The global plastic cups market is being driven by the thriving foodservice industry and the expansion of the quick service restaurant (QSR) chains. The growing consumption of and demand for fast food and beverages like coffee and milkshakes are aiding the overall industry growth. Other factors like escalating disposable incomes, rising standards of living, and growing penetration of coffee houses and fast-food chains in developing nations are significantly contributing to the industry growth. Over the forecast period, the growing technological advancements, increasing demand for non-disposable cups, and the development of recyclable cups with enhanced properties will boost the market growth. However, the outbreak of COVID-19 is expected to adversely impact the industry growth over the forecast period.
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Industry Definition and Major Segments
Plastic cup refers to a cup made out of plastic materials. They come in a variety of shapes, colours, designs, and sizes and are convenient and easy to handle. The different resins used to make plastic a versatile material for producing cups.
On the basis of nature, the industry is divided into:
The various types of plastic cups available in the industry include:
- Heavy Duty, Hard Wall
- Heavy Duty, Flexible
- Thin Wall
By raw material, the industry can be divided into:
- Polylactic Acid (PLA)
- Polypropylene (PP)
- Polystyrene (PS)
- Polyethylene Terephthalate (PET)
- Poly Vinyl Chloride (PVC)
The major distribution channels of the product are as follows:
On the basis of application, the industry has been segmented into:
- Chilled Food and Beverages
- Hot Food and Beverages
Based on end use, the market is broadly categorised into:
- Ice Cream Industry
- QSR and Other Fast Food Shops
- Offices and Educational Institutions
- Residential Use
The regional markets for plastic cups include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The global plastic cups market is expected to be driven by the introduction of favourable policies and the development of new innovations. The growing inclination towards non-disposable or reusable cups in order to reduce the plastic waste is expected to aid the market growth. For instance, Starbucks Corporation (NASDAQ: SBUX), one of the leading coffee house chains, is promoting the use of reusable cups over single-use cups. The company offers its customers bringing their own coffee mugs and personal tumblers with various cash incentives and discounts, thus, creating the reusable cup habit. Further, the growing investments by the major players in the product innovation will significantly contribute to the industry growth. For instance, Dart Container Corporation added Bare(R) by Solo(R) Eco-Forward(R) RPET Clear Cups and Solo(R) Ultra Clear PET Cold Cups, which are greener and will enhance visibility with their crystal clarity and print capability, respectively.
Key Market Players
The major players in the market are Huhtamaki Oyj (HEL: HUH1V), 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.
Note 1: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
Note 2: For a snapshot of the primary and secondary data of the market (2015-2025), along with business strategies and detailed market segmentation, please click on request sample report. The sample report shall be delivered to you within 24 hours.
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