Report : South America 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 South America Disposable Paper Cups Market during 2021-2028
According to a new market research study on “South America 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$ 332.28 million by 2028 from US$ 280.60 million in 2021. The market is estimated to grow at a CAGR of 2.4% from 2021 to 2028. The report provides trends prevailing in the South America disposable paper cups market along with the drivers and restraints pertaining to the market growth. Heightening demand from foodservice sector, and regulations in favor of paper-based solutions are major factors driving the growth of the South America disposable paper cups market. However, recyclability issues with respect to disposable paper cups may hinder the growth of South America disposable paper cups market.
Brazil reported the highest number of COVID-19 confirmed cases across South America, followed by Argentina, Peru, Chile, and Ecuador. Governments in South America have taken an array of actions to protect their citizens and contain the spread of novel coronavirus. Containment measures in several countries of the region would reduce economic activity in the manufacturing and service sectors for at least the next quarter of 2020, with a rebound once the pandemic is contained. These factors affected the growth of the disposable paper cups market in South America. However, as the economies are recovering from losses, the market is also projected to witness growth across the region in the next few years. Moreover, the government has started encouraging people to follow hygiene measures. Thus, the demand for disposable paper cups across the region is expected to increase substantially during the forecast period.
The market for South America 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 poly-coated paper segment held the largest share in South America disposable paper cups market. Based on end-user, the South America disposable paper cups market is divided into food service, retail, and institutional & industrial. The food service segment is expected to be the fastest growing segment over the forecast period. Based on country, the South America disposable paper cups market is segmented into Brazil, Argentina and rest of South America. In 2020, rest of South America held the largest share in South America disposable paper cups market. Furthermore, in this present scenario of COVID 19 pandemic, the South America disposable paper cups market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the South America countries have been experiencing low production and a weak supply chain. Thereby, impacting the market for disposable paper cups.
Huhtamaki; Duni Group; Graphic Packaging International, LLC; Bender Limited; Tekni-Plex; and Reynolds Group Ltd. are some of the leading companies in the South America 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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