The global sales of cold waxed paper cups are estimated to be worth USD 1.3 billion in 2021 and are anticipated to reach a value of USD 2.4 billion by 2031. Sales are projected to rise at a CAGR of 6.5% over the forecast period between 2021 and 2031. The revenue generated by cold waxed paper cups in 2020 was USD 1.2 billion.
Demand for the cold waxed paper cups will witness steady recovery in the short term, with an optimistic growth outlook in the long run after the pandemic. The market growth is set to gain substantial sales in the forecast period, owing to astonishing features of cold waxed paper cups such as biodegradable and availability of different sizes, shapes.
Increasing demand for sustainable and eco-friendly packaging solutions especially in food and beverage industry is pushing the cold waxed paper cups market. These cups are widely used in serving cold beverage like soft drinks, smoothies, iced coffee, etc. and they are effective as a barrier for moisture and grease.
Expansion of food service industry across regions is fueling the industry growth due to increasing cafes, restaurants, and quick service outlets in urban areas. Cold waxed paper cups are lightweight, easy to carry, and provide a spill-free experience which makes them ideal for on-the-go consumption which is further driving the market.
Global Cold Waxed Paper Cups Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2020 | USD 1.2 billion |
| Estimated Size, 2021 | USD 1.3 billion |
| Projected Size, 2031 | USD 2.4 billion |
| Value-based CAGR (2021 to 2031) | 6.5% |
Cold waxed paper cups have become the most prominent solution for drinking any kind of cold beverage. These cups are consumer-friendly and can be taken anywhere. The rising number of quick- full service restaurants across the globe has led to strong sales and demand for cold waxed paper cups.
Cold waxed paper cups are made from paper-based materials and to prevent the contents from soaking through the paper, cold waxed paper cups are commonly coated or lined with plastic or wax. Disposables are preferred over reusable cups as customers become more sanitation and hygiene awareness. Cold waxed paper cups come in a range of sizes, shapes, and textures which is favouring the growth of the cold waxed paper cups market.
Cold waxed paper cups are widely used in the food & beverage sector due to their lightweight, cost-effectiveness, biodegradability, and ability to provide air resistance, internal strength, and stiffness. They also don’t need to be cleaned and can be easily tossed after usage.
Aside from that, there has been an increase in the influence of westernization in developing regions, as well as an increase in fast food consumption. Furthermore, as compared to plastic and foam competitors, cold waxed paper cups are substantially more biodegradable and require less time to degrade.
Producers or manufacturers in the market are developing new tactics, such as enhanced substrate technology, to minimise grease and oxygen contamination of packaged food items. This is expected to boost demand for cold waxed paper cups around the world.
The rising use of PET and PP based containers has increased the demand for cold waxed paper cups as these materials come under thermoplastic which is reversible and can be reshaped and reheated.
Paper cups are cost-effective, thermal resistance, durable and well-suited for dry and wet products and the key players in the market are using these materials more for the target market which is projected to bolster the sales in the forecast period.
As the cold waxed paper cups are single-use and they are ultimately thrown after the use which is hindering the market. Additionally, other cups made of wood, aluminium and others are restricting the growth of the cold waxed paper cups market.
A few of the players actively participating in the cold waxed paper cups market consist of
In consideration of the income and changing lifestyles of people in the USA the growth in the beverages and cosmetics end-use industries is anticipated to propel the demand for cold waxed paper cups in the market.
Manufacturers in the USA are shifting towards the production of cold waxed paper cups. Therefore, the country is expected to experience higher demand for cold waxed paper cups.
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Cold Waxed Paper Cups Market
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