The global cold waxed paper cups market is expected to increase at a growth rate of ~6.5%, during the forecast period.
Demand for the cold waxed paper cups will witness steady recovery in the short term, with an optimistic growth outlook in the long run after the pandemic. The market growth is set to gain substantial sales in the forecast period, owing to astonishing features of cold waxed paper cups such as biodegradable and availability of different sizes, shapes.
Cold waxed paper cups have become the most prominent solution for drinking any kind of cold beverage. These cups are consumer-friendly and can be taken anywhere. The rising number of quick-service restaurants across the globe has led to strong sales and demand for cold waxed paper cups.
Cold waxed paper cups are made from paper-based materials and to prevent the contents from soaking through the paper, cold waxed paper cups are commonly coated or lined with plastic or wax. Disposables are preferred over reusable cups as customers become more sanitation and hygiene awareness. Cold waxed paper cups come in a range of sizes, shapes, and textures which is favouring the growth of the cold waxed paper cups market.
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Cold waxed paper cups are widely used in the food & beverage sector due to their lightweight, cost-effectiveness, biodegradability, and ability to provide air resistance, internal strength, and stiffness. They also don’t need to be cleaned and can be easily tossed after usage.
Aside from that, there has been an increase in the influence of westernization in developing regions, as well as an increase in fast food consumption. Furthermore, as compared to plastic and foam competitors, cold waxed paper cups are substantially more biodegradable and require less time to degrade.
Producers or manufacturers in the market are developing new tactics, such as enhanced substrate technology, to minimise grease and oxygen contamination of packaged food items. This is expected to boost demand for cold waxed paper cups around the world.
The rising use of PET and PP based containers has increased the demand for cold waxed paper cups as these materials come under thermoplastic which is reversible and can be reshaped and reheated.
Paper cups are cost-effective, thermal resistance, durable and well-suited for dry and wet products and the key players in the market are using these materials more for the target market which is projected to bolster the sales in the forecasted period.
As the cold waxed paper cups are single-use and they are ultimately thrown after the use which is hindering the market. Additionally, other cups made of wood, aluminium and others are restricting the growth of the cold waxed paper cups market.
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A few of the players actively participating in the cold waxed paper cups market consist of
In consideration of the income and changing lifestyles of people in the U.S. the growth in the beverages and cosmetics end-use industries is anticipated to propel the demand for cold waxed paper cups in the market.
Manufacturers in the U.S. are shifting towards the production of cold waxed paper cups. Therefore, the country is expected to experience higher demand for cold waxed paper cups.
Due to COVID-19, consumers’ interest in health and safety, particularly in the immune system and overall health-enhancing products, has increased, which has brought the food & beverage industry to the focal point of attention.
Additionally, the increasing packaging needs in the food & beverage industry has led to a boost in the demand for cold waxed paper cups. Therefore, the packaging of beverages has increased the demand for cold waxed paper cups according to the consumers’ needs.