Newly released data from beverage cups market analysis shows that global demand of the overall beverage cups market is forecasted to expand at a value compound annual growth rate (CAGR) of 6% from 2021-2031 and reach millions of units by 2031.
In terms of growth, the beverage cups market is projected to witness a prominent sales growth rate by 2031, owing to the increasing trend of quick delivery, ready-to-go food ordering, and rising consumer’s choice for disposable and sustainable packaging.
Beverage Cups Market: Market Outlook
In today’s fast-developing market, cutthroat competition is almost every part of life, including the packaging industry. It becomes crucial for companies to increase productivity by using sustainable and eco-friendly materials and adopting innovative technology. The novel food packaging is now designed according to the consumer’s needs, priorities, and preferences.
The beverage cup is a drink carrier or a top-open cup for drinking, pouring, and holding liquid beverage items. The beverage cups are mainly made of glass, paper and, plastic material, whereas polypropylene is used to manufacture plastic cups. The beverage cups are widely used for drinking hot coffee, tea, fruit juices, cold drinks, soups, and other liquid beverage products.
Also, these beverage cups are disposable or recyclable designed and available in different sizes, shapes, styles, and colours as per functions and applicability.
The beverage cups, along with added insulation features, are excellent in serving hot or cold beverages. The single or double coating layers offers sturdiness and rigidity to the cup and are moisture-resistant, smooth, and stable. Therefore, the increasing demand for disposable, biodegradable cups to serve hot and cold beverages could boost the beverage cups market.
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What Are the Key Market Drivers Impacting the Growth of Beverage Cups Market?
Beverage cups have become trendy due to rising consumer’s convenience and single-use consumption patterns. The consumers are aware of health, hygiene, and cleanliness.
Thus, they prefer the safest, reliable and convenient packaging solution. Most public places, restaurants, offices, and significant family events like weddings, parties, get-togethers, and beverage cups are used to serve soft drinks, hot or cold drinks, and water.
The paper or plastic beverage cups are primarily applicable for single-use purposes, which creates the safety of spreading the contamination and hand and oral infection. The beverage cups are also safe for drinking any food liquid products. It retains the food quality, flavour, taste, and hygiene and protects the contents from outside pollution and dust particles. All these factors will augment the growth of the beverage cups market.
What is the Key Trend Increasing Sales of Beverage Cups Market?
In today’s day and age, the trend of outdoor readymade food eating and drinking is increasing rapidly due to busy lifestyle utilize the beverage cups for saving time and efforts of cleaning and can be discarded easily after use.
Online food and beverages ordering, increasing trend of a quick delivery, rising social and family functions, picnics, and outings will propel the sales of the beverage cups in the market.
Find your sweet spots for generating winning opportunities in this market.
What are the Key Opportunities Shaping the Consumption of Beverage Cups?
The customized printed paper cups with eye-catchy designs and printing could create a brand image opportunity for the customer. The food service, restaurants, hotels, cafeterias, and food delivery companies could consider customized printing on the cups the best option for brand promotion and publicity. The consumer prefers visually appealing and attractive designs.
Additionally, serving the drinks in environment-friendly optimal packing with biodegradable or compostable properties could enhance the growth opportunity of the beverage cups market. The cost-effective, sturdy beverage cups are the best option for glass-ceramic cups due to the difficulty in carrying them around and the chances of breakages.
Furthermore, due to being unbreakable, safe, and easy to handle, the beverage cups are a perfect choice for child-friendly and older adults. Many offices, industrial units, supermarkets, malls keep the tea/coffee vending machines or juice and soft drink stations for people with disposable beverage cups. During travel in railways, the beverage cups are served for liquid foods due to being easily disposable, safe, and convenient. Owing to this, there will be significant growth in the beverage cups market.
are actively involved in beverage cups market for different applications.
Key Asian players such as
Nippon Paper Industries Co.Ltd.
Anbao
Xiamen Weihao Eco-Friendly Tech Co.Ltd
Dongguan City
Chun Fu Mold Co.Ltd
Nisuma and WBS
others are actively involved in beverage cups market for different applications.
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What Strategies are the Key Players Adopting for Increasing their Market Share in Beverage Cups Market?
The manufacturers involved in manufacturing beverage cups adopt various strategies such as innovation and product launch, focusing on sustainability to serve the increasing demand for the beverage cups market.
Huhtamäki Oyj recently introduced single wall and multi-wall paper cups made for PEFC certified paperboard with lid. They have also developed bioware paper cups compostable as per EN12432 compostable norms. The reCup is an exclusive recyclable paper cup made with an innovative barrier coating, EarthCoating, specially engineered to recycle the cups easily in mainstream waste facilities.
Why is India a Big Market for the Beverage Cups Market?
Tea is the most popular and widely accepted drink in India. Small tea shops are available in every nook and corner of the country. India is a densely populated country, and teas and coffee consumption is exceptionally high India. With the increasing number of restaurants, cafeterias, tea, and coffee shop chains, the penetration of western fast-food supply chains could enhance the growth of the beverage cups market in India.
Indian people are fond of tea and coffee; hence the consumption of tea is extremely high. Beverage cups are also widely used in family functions, weddings, corporate events due to their lightweight, sturdiness, cost-effective, eco-friendly, and sustainable packaging solution. Therefore, the Indian market is expecting an exponential growth of beverage cups market.
How has the COVID-19 Pandemic Impacted the Beverage Cups Market?
The Covid-19 outbreak hampered the production activity, slow down the sales, and affected the profitability of the companies. Various food service companies have taken measures to supply hygienic, safe food packaging to consumers due to Covid-19. The lockdowns and hotels, cafeteria, restaurant close for the public affected the beverage cups market.
Despite that, the fast-food giants, restaurant-to-go, and small and big food operators switched over to disposable beverage cups for food packaging for the consumer's safety and hygienic concern.
Due to Covid-19, the hospitals, Covid patients quarantine centres, and home quarantine patients considered the beverage cups the best solution due to their single-serve purpose and easily disposable; hence, there is no risk of virus spread and increasing infection. Therefore the Covid-19 pandemic generated substantial growth in the beverages cup market.
Key Segments of Beverage Cups Market Covered in the Report
