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APAC is the largest market for paper cups in the world: report
Global demand for paper cups will grow to $11.27b by 2030.
A report by The Brainy Insights revealed that the Asia Pacific region is the largest market for the global paper for cups industry, with a market share of 40.27% and a market value of around $3.39b in 2022.
This is because of the growing health consciousness of consumers in Asia, which has led to a significant increase in the use of paper cups in institutions, dispensaries, and railway stations.
Meanwhile, the global paper-for-cups market is expected to grow from $8.42b in 2022 to $11.27b by 2030, at a compound annual growth rate of 3.7%.
According to the report, the surge in awareness is constantly changing the lifestyle of consumers, hence the demand for paper cups is expected to increase significantly every year.
The application segment is divided into hot paper cups and cold paper cups. In 2022, the hot paper cups segment dominated the market with the largest market share of 64.64% and market revenue of $5.44b. Paper cups are commonly used for serving hot and cold beverages.
In 2022, the coffee and tea shops segment dominated the market with the largest market share of 38.20% and market revenue of $3.21b.
