Research Nester released a report titled “Recyclable Cups Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overvi0065w of the global recyclable cups market in terms of market segmentation by material, application, product, capacity, technology, end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Recyclable cups are the cups that can be recycled and after recycling, new products can be made using them for a variety of end users. A lot of quick service restaurants are opting for recyclable or biodegradable cups for serving food and beverages as it not only contributes in reducing the waste but also provides a sustainable solution for environment protection. The recyclable cups market is anticipated to record a significant CAGR over the forecast period of 2020-2028.
The market is bifurcated into paper and plastic recyclable cups on the basis of martial used for manufacturing. The fact that both paper and plastic can be moulded and designed as per the choice of end user makes them an appealing choice. Designing the cups make them attractive and visually appealing. Moreover, cup designs now-a-days are associated with the identity of a brand. These factors coupled with the environmental factors such as waste management are expected to drive the market growth over the forecast period.
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Geographically, the global recyclable cups market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. North America have a dominating market share in terms of revenue on the back of presence of a large number of quick service restaurants and food packaging manufacturers in the region.
In Q4 2021, USA current-account deficit widened stood at $224.8 billion. However, in Q1 22, CAD rose by 29.6%, reached to $291.4 billion, adding $66.6 billion to the gap. Export of good and services increased by $25.7 billion to reach $1.03 trillion in the first quarter of 2022. However, goods and services deficit was $79.6 billion in June, down $5.3 billion from $84.9 billion in May, revised- reflecting some sight of relief. On the other hand, annual inflation rate in the country hit 8.5%. Energy CPI surged by 32.9% in July 2022, inflating the cost of logistic and some signs to disrupt supply chain whilst electricity cost upsurged by 15.2%, highest since Feb 2006. Apart from that, In July 2022, existing US home sales declined 5.9% to 4.81 million (seasonally adjusted annual rate), the lowest since May of 2020 and below market expectations of 4.89 million. As mortgage rate touches to peak 6%, sales for houses declined for a sixth consecutive month. Global energy crises to remain at focal point, pushing consumers to spend less on the products and services and save more.
On the other hand, the worst is expected to be seen in the European countries especially during 2022 winters. The energy and gas crises has already started grappling the region where in many Western European countries including Germany is looking for coal fired solutions to tackle the gas supply shortage, created by Russian-Ukraine conflict.
Amidst global concerns, market players have started looking for safe investments by holding on to the new technology and product launches. Factors like currency translation, disruption in global supply chain, Anti-China sentiments brewing across the globe, slowdown in Chinese economy, inflated products prices, USD getting stronger every week, decreasing purchasing power and strict measures taken by central banks/institutions across the world to ensure less spending and more saving, could hit the demand for the product and service badly in near future.
Environment Friendly Nature of Recyclable Cups to Boost the Market Growth
The amount of solid waste produced all over the world is increasing every year. According to World Bank, the world generated 2.01 billion tonnes of solid waste in 2016 and it is predicted to grow to 3.40 billion tonnes by 2050. In 2016, only 13.5% waste was recycled. Efforts are being made by United Nations and local governments to make people aware about waste management. They have identified that managing waste is one of the primary factor in keeping environment safe and clean. Recyclable cup helps in managing waste in a better way as it can be recycled and reused. This factor is expected to drive the market growth.
However, the presence of plastic coating in recyclable cups and the lack of infrastructure to separate that coating from the cup may hamper the recycling process and further impact the growth of recyclable cups.
This report also provides the existing competitive scenario of some of the key players of the global recyclable cups market which includes company profiling ofBioPak Pty Ltd., Pactiv LLC,Fabri-Kal Corp., Eco-Products, Inc., Lollicup USA Inc, George-Pacific (Dixie), Dart Container Corporation, Pactiv LLC,James Cropper PLC (LON: CRPR), Berry Global Group Inc. (NYSE: BERY) and Frugalpac Limited.
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The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global recyclable cups marketthat will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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