The GCC paper cup market is valued at USD 351.88 million in the current year and is expected to attain a CAGR of 3.40% during the forecast period to reach USD 437.26 million in the next five years. The recyclability of paper cups is one of the key factors driving the growth of the paper cup market. These cups can be recycled indefinitely because they are made of paper. Manufactured on par with environmental regulations, users benefit from the cost advantages of packaging while eliminating disposal concerns. It helps the vendors to contribute to the sustainability goals through their products.
The market is moderately fragmented, with few major players such as Huhtamaki Group, HotpackPackaging Industries LLC, and more. Companies focus on innovations as part of their business expansion and towards recyclability.
In November 2022, HotpackGlobal opened a manufacturing facility in Qatar. The cutting-edge manufacturing facility is a specialized factory that will create a wide range of Hotpack'spaper products, including folding and corrugated cartons, paper bags, and cups. It is situated in Doha's new industrial region.
In September 2022, Huhtamaki and Stora Enso launched a paper cup recycling initiative. The Cup Collective program aims to recycle used paper cups on an industrial scale and provide consumers and businesses convenient access to used paper cups, which can then be renewed into valuable recycled raw material.
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