Report : Asia Pacific Disposable Paper Cups Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Material (Air Pocket Insulated, Poly-Coated Paper, Wax Paper, and Others), and End-User (Food Service, Retail, and Institutional & Industrial)
The Air Pocket Insulated Segment to Dominate Asia Pacific Disposable Paper Cups Market during 2021-2028
According to a new market research study on “Asia Pacific Disposable Paper Cups Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast – by Material, End-User and Country,” is expected to reach US$ 1,902.04 million by 2028 from US$ 1,364.66 million in 2021. The market is estimated to grow at a CAGR of 4.9% from 2021 to 2028. The report provides trends prevailing in the Asia Pacific disposable paper cups market along with the drivers and restraints pertaining to the market growth. Rise in need from foodservice sector, and regulations pertaining to the use of paper-based solutions are major factors driving the growth of the Asia Pacific disposable paper cups market. However, Recyclability issues may hinder the growth of Asia Pacific disposable paper cups market.
The COVID-19 pandemic is causing a significant economic loss in Asia Pacific. The consequence and impact became worse during the second wave of the COVID-19 outbreak. The governments of various Asia Pacific countries took possible steps to restrict the spread by announcing lockdown, which, in turn, affected the revenue generated by the disposable paper cups market in the region. However, the situation changed significantly as the governments of countries such as China, India, and Japan introduced the vaccine and promoted the vaccination drives. Moreover, the governments eased out the lockdown restrictions and travel bans, which revived the growth of the tourism and foodservice sector across the region. This factor is projected to have a positive impact on the growth of the disposable paper cups market in Asia Pacific in the coming years. Moreover, as Asia Pacific is amongst the rapidly emerging regions due to the availability of cheap labor and manufacturing facilities, less trade barriers, and favorable government policies, many fast food companies are expanding their operations across the region. This factor may open significant growth opportunities for disposable paper cups manufacturers in the region during the forecast period.
The market for Asia Pacific disposable paper cups is segmented into material, end-user and country. Based on material, the market is segmented into air pocket insulated, poly-coated paper, wax paper, and others. In 2020, the air pocket insulated segment held the largest share in Asia Pacific disposable paper cups market. Based on end-user, the Asia Pacific disposable paper cups market is divided into food service, retail, and institutional & industrial. The retail segment is expected to be the fastest growing segment over the forecast period. Based on country, the Asia Pacific disposable paper cups market is segmented into Australia, China, India, Japan, South Korea and rest of Asia Pacific. In 2020, China held the largest share in Asia Pacific disposable paper cups market. Furthermore, in this present scenario of COVID 19 pandemic, the Asia Pacific disposable paper cups market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the Asia Pacific countries have been experiencing low production and a weak supply chain. Thereby, impacting the market for disposable paper cups.
Huhtamaki; Duni Group; Bender Limited; Tekni-Plex; SCG Packaging and Reynolds Group Ltd. are some of the leading companies in the Asia Pacific disposable paper cups market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
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