Foam Cups Market Revenue to Witness Steady Growth Through 2028
Posted: Feb 21, 2019
Evolving packaging market with the introduction of new packaging solutions for the growing food and beverages industry is encouraging packaging manufacturers to develop aesthetic and innovative solutions. The use of disposable cups is increasing in the global food & beverages packaging market owing to increased consumption by food service providers, households, and institutions. The disposable cups such as paper, plastic, and foam cups are maintaining their prominence in the global food packaging market due to its economy and easy availability. The foam cups keep beverages at their serving temperature inside and outside for a long time, due to which they are ideal for both hot and cold beverages.
The adoption of foam cups is decreasing over the time due to non-biodegradable and nearly impossible to recycling. The environment-friendly paper and fiber-based cups are taking the place of foam cups in the food services and retail stores. Recently, the giant food service providers from United States, such as Dunkin' Donuts and McDonald's, are looking forward to completely stop using foam cups till 2020. New York, the United States’ largest city, has banned foam cups and containers made up from expanded polystyrene (EPS) from the start of 2019. The key players in the foam cups market are engaging in the research and development to overcome the drawback of foam cups and provide eco-friendly solutions to the end-users.
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Paper vs. Foam Cups
Foam cups contain harmful chemicals such as benzene, which is harmful to animals. The paper cups having only a thin coating of polyethylene and aren’t toxic when consumed on accident. The foam cups are not eco-friendly and less recyclable as compared to the paper cups which reduce the market share of foam cups in global disposable cups market. On the other side, the manufacturing of foam cup requires fewer resources as compared to the paper cups in terms of water, energy, cutting trees and others. The biodegradable or compostable cups are also attributed to be a worthy environmental alternative for foam cups.
Asia Pacific is dominating the global foam cups market
The global disposable cups market is estimated to be valued at around US$ 14 Billion in 2019 and anticipated to experience impressive growth in the future. In the global disposable cups market, foam cups are estimated to witness a drop in market share during 2018-2026. Asia Pacific is attributed to be the largest consumer of foam cups owing to large number of food service providers in China, India, ASEAN countries and Japan. The Asia Pacific and North America are estimated to accounts for near about 50% of global foam cups market in 2019. The demand for foam cups is expected to boost in Latin America and Middle East & Africa on the backdrop of proper establishment of recycling regulations.
Global Foam Cups Market: Segmentation
The global foam cups market is segmented on the basis of capacity, cup type, sales channel, and end-user as follows:
On the basis of size, the global foam cups market has been segmented into:
Up to 10 Oz,10 to 16 Oz,16 to 20 Oz,20 to 32 Oz & More than 32 Oz
On the basis of cup type, the global foam cups market has been segmented into:
Hot cup type & Cold cup type
On the basis of the sales channel, the global foam cups market has been segmented into:
Supermarket/Hypermarket,Departmental/Speciality/Discount Stores,Distributors & Online sales
On the basis of end-user, the global foam cups market has been segmented into:
Foodservice,Institutional,Household & Catering services
Global Foam Cups Market: Key Players
Some of the key players operating in global foam cups market are as follows:
Genpak, LLC,Master Containers, Inc.,Dart Container Corporation,Huhtamaki Oyj,CKF Inc,Dixie Consumer Products LLC,Megafoam Containers Enterprise Sdn Bhd,Pactiv LLC,Lollicup USA, Inc.,Letica Corporation & Eco-Products Inc.
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