Foam Cups Market Value to Reach US$ 1.0 Bn by 2031: TMR Study

Transparency Market Research inc.
·4 min read

WILMINGTON, DE / ACCESSWIRE / January 30, 2023 / Transparency Market Research Inc. - According to a TMR study, the global foam cups market is anticipated to grow at a CAGR of 4.4% during the forecast period from 2022 to 2031.

Transparency Market Research inc., Monday, January 30, 2023, Press release picture
Transparency Market Research inc., Monday, January 30, 2023, Press release picture

Foam cups are products used to serve different beverages to consumers at residences and commercial establishments. These are available in several shapes and sizes, and are convenient and disposable packaging solutions. Foam cups are lightweight, easy to use, and have strong insulation characteristics that help to maintain the quality of the beverage.

Consumers prefer to purchase foam cups from offline distribution channels, such as retail stores, for the past many years. However, continuous growth of online distribution channels has shifted consumer preference toward purchasing foam cups from e-commerce websites. Benefits of purchasing foam cups from e-commerce websites are product availability at discounted prices and doorstep product delivery.

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Launch of new foam cups is enabling leading market players to increase revenue and gain an edge over competitors. Prominent market players are collaborating with other players to expand presence and increase revenue share. Well-established players are likely to increase their production capacities in a bid to meet customer requirements.

Key Findings of Market Study

  • Growing Number of Cafes and Restaurants Worldwide: There has been a surge in the number of cafes and restaurants globally in the past few years that serve beverages such as coffee, shakes, and tea. Hence, demand for foam cups has risen, which is likely to propel market growth.

  • Increase in Demand for Biodegradable Foam Cups: Consumers prefer environment-friendly and sustainable packaging solutions. Hence, manufacturers are focusing on producing biodegradable foam cups. Rise in demand for biodegradable, eco-friendly foam cups presents significant business opportunities for market players.

Foam Cups Market - Key Drivers

  • Rise in sections in population that consume different beverages is driving the global foam cups market

  • Continuous growth in the online food delivery industry is fueling demand for foam cups and bolstering market development

  • Surge in number of malls and theatres is anticipated to augment market growth during the forecast period

  • Growing usage at airports and other commercial establishments is triggering business growth

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Foam Cups Market - Regional Landscape

  • Asia Pacific is anticipated to account for dominant market share during the forecast period. Rise in consumption of food and beverages and increase in number of restaurants in countries, such as India and China, are projected to drive market size in the region in the next few years.

  • The market in North America is projected to witness significant growth during the forecast period due to increase in consumption of coffee among customers in countries such as the U.S. and Canada

Foam Cups Market - Key Players

The global market is fragmented, with the presence of large number of international and local players. Entry of new players is likely to intensify the competition during the forecast period.

Leading foam cups market players are investing significantly in R&D activities to manufacture improved products that meet consumer requirements. Increase in demand for these products is likely to propel business growth in the near future.

Key players operating in the market are WinCup, Inc., Policap LLC, Luban Pack, Dart Container Corporation, Michael Procos S.A., and Gallegoplast S.L.

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The global foam cups market is segmented as follows:

Capacity

  • 5 to 8 Oz

  • 9 to 12 Oz

  • Above 12 Oz

Distribution Channel

  • Online

  • Offline

Application

  • Household

  • HORECA

  • Institutional

Region

  • North America

  • Latin America

  • Europe

  • Asia Pacific

  • Middle East & Africa

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About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

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