Vending Cups Market Share, Size, Trends, Industry Analysis Report, By Material Type (Paper-Based, Plastics, and Others); By Cup Size; By Application (Vending Cups for Hot Beverages, Vending Cups for Cold Beverages, Vending Cups for water); By Region; Segment Forecast, 2023 - 2032
The global vending cups market size is expected to reach USD 2.92 billion by 2032, according to a new study by Polaris Market Research. The report “Vending Cups Market Share, Size, Trends, Industry Analysis Report, By Material Type (Paper-Based, Plastics, and Others); By Cup Size; By Application; By Region; Segment Forecast, 2022 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The rising use of vending cups over plastic cups is growing due to their various benefits for the environment. Nowadays, it's usual to observe people favoring paper cups over those made of plastic materials. The key players' focus to eliminate plastic use and also the launches of paper-based cups is growing the market.
For instance, in July 2022, the manufacturer of sturdy, compostable paper SOFi Straws, SOFi Products, based in Miami, announced the launch of the first 100% biodegradable cup that does not require a plastic cover. There are currently no cups available on the market that are 100% biodegradable and do not require a plastic top, according to Brandon Leeds, a co-founder of SOFi. This consumer tendency has led to an increase in the use of paper cups by businesses like quick-service restaurants, cafeterias, and other catering service providers.
Moreover, global paper cup use will rise as a result of strict government regulations and laws regulating the use of plastic packaging, expanding paper recycling efforts, and the availability of major fast food chains. According to the EPA, more than 292 million tonnes of municipal solid garbage were generated in 2018, according to a report by the U.S. Environmental Protection Agency. 25 million tonnes of the whole amount of municipal solid trash produced were composted, while approximately 69 million tonnes were recycled. The sales will also be boosted throughout the predicted period by growing government initiatives aimed at decreasing municipal solid waste, such as banning plastic packaging in the food industry and raising awareness of the value of paper cups.
Additionally, the public and private players are also collaborating for reducing the use of plastic and recycling plastics. For this, they are developing programs that are helpful for the environment. For instance, in September 2022, Huhtamaki & Stora Enso teamed up to introduce “The Cup Collective”, a brand-new program for recycling the paper cups. Therefore, the rising government regulations for reducing plastics use, increasing recycling programs, as well as launches of 100% bio-degradable paper bags are supporting the market to growth.
Vending Cups Market Report Highlights
The paper-based segment is anticipated to grow at a high CAGR over the forecast period. Increased health concerns, excessive product packaging, and extensive use of paper-based vending cups.
The less than 7oz segment accounted for highest of the global revenue share which is accelerated by the benefits such as it is ideally suited for family gatherings, small family functions
North America is expected to grow at a high CAGR over the projected period on account of due to a rise in the requirement for disposable paper cups in the industrial and commercial sectors in the region.
The global players include Conver Pack, Grupo Phoenix, Graphic Packaging, International Paper, Jiangsu Xinyu Bio-Tech, and Kap Cones.
Polaris Market Research has segmented the Vending Cups market report based on material type, cup size, application, and region:
Vending Cups, Material Type Outlook (Revenue - USD Billion, 2019 - 2032)
Paper-based
Prism Paper
Molded Pulp Fiber
Plastic
Polypropylene (PP)
Polyethylene (PE)
Polystyrene (PS)
Polyamide (PA)
Others
Others
Vending Cups, Cup Size Outlook (Revenue - USD Billion, 2019 - 2032)
8-12 oz Vending Cups
12-15 oz Vending Cups
15-20 oz Vending Cups
Vending Cups Sizing More than 20 oz
Vending Cups, Application Outlook (Revenue - USD Billion, 2019 - 2032)
Vending Cups for Hot Beverages
Tea
Coffee
Hot Chocolate
Others
Vending Cups for Cold Beverages
Carbonated Beverages
Alcoholic Beverages
Juices
Others
Vending Cups for water
Vending Cups, Regional Outlook (Revenue - USD Billion, 2019 - 2032)
North America
U.S.
Canada
Europe
Germany
UK
France
Italy
Spain
Russia
Netherlands
Asia Pacific
China
India
Japan
South Korea
Indonesia
Malaysia
Latin America
Argentina
Brazil
Mexico
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa