The adoption of paper cup in Korea is estimated to increase at a CAGR of 7.1% through 2033. Paper cup sales in Korea are poised to experience a rise to a valuation of USD 338 million in 2023. Demand for paper cup from coffee shops and convenience stores is likely to remain significant during the forecast period. This trend is likely to fuel the industry to a valuation of USD 671.4 million by 2033.
Key Trends- Highlights to Understand Emerging Key Opportunities
| Attributes | Details |
|---|---|
| Industry Size of Korea in 2023 | USD 338 million |
| Expected Industry Size of Korea by 2033 | USD 671.4 million |
| Forecasted CAGR from 2023 to 2033 | 7.1% |
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The table indicates that the paperboard segment dominates the industry by material type, acquiring a share of 55.1% in 2023. The table further details end use category and show that the beverage segment leads with a value share of 68.5% in 2023.
| Category | Industry Share in 2023 |
|---|---|
| Paperboard | 55.1% |
| Beverages | 68.5% |
South Korea has been actively promoting eco-friendly practices, and there is a growing trend towards sustainable materials. Paperboard cups align well with this ethos, as they are biodegradable and recyclable. Moreover, cultural preferences also come into play. Traditional Korean dining customs often involve hot beverages like tea or coffee, and paperboard cups provide a convenient and practical solution for takeout or on-the-go consumption. As Korea's hospitality industry gears itself for a new deposit program in December 2022, the number of paperboard cups supplied across 14 café chains and four fast-food restaurants has surged 30% since the pandemic began.
The local paper industry in Korea has seen considerable advancements in technology and infrastructure. This has led to the production of high-quality paperboard material that meets the stringent standards set by both regulatory bodies and consumers. This quality assurance has bolstered the confidence of businesses and consumers in choosing paperboard cups.
The culture of coffee is well entrenched in Korea. The country has one of the maximum per-capita coffee consumption rates in the world. Consumers in this country favor takeout coffee due to their passion for on-the-go lifestyles, which has increased demand for paper cups. The growth of coffee shop chains, both local and foreign, throughout urban areas only serves to further support this tendency.
Korea's culture of convenience stores is prominent. These shops, which are common in cities, sell a variety of drinks. Customers want grab-and-go alternatives because of how quickly modern life moves; thus, paper cups are the container of choice.
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South Gyeongsang province in South Korea is a significant hub for various industries, including the paper cup industry. The province is home to numerous manufacturers, ranging from small enterprises to large-scale companies, producing a wide range of paper cup products. These businesses contribute significantly to the local economy and also play a role in the larger context of South Korea's export-oriented manufacturing sector.
The industry in South Gyeongsang province is likely to be influenced by global trends such as the shift toward eco-friendly and sustainable packaging. Local companies might face challenges related to compliance with international quality standards and evolving environmental regulations.
South Gyeongsang, North Jeolla, South Jeolla, and Jeju are other regions playing key roles in the Korea paper cup industry.
The paper cup industry in Korea has become more dispersed. Customers are open to new ideas, making it simple for new businesses to enter Korea for paper cup. Gaining consumer loyalty is tough at first appearance. To retain customers, reputable brands continue to deliver the taste of fresh features powered by technology.
When emerging firms form alliances with leading corporations, they are likely to acquire significant exposure. Deploying technology correctly can aid in route optimization, assuring efficient delivery.
The emergence of super applications is another important competitive touchpoint. Key players in Korea keep expanding their operations beyond a particular category to provide their users with an all-inclusive approach.
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| Attributes | Details |
|---|---|
| Industry Size of Korea in 2023 | USD 338 million |
| Expected Industry Size in 2033 | USD 671.4 million |
| CAGR from 2023 to 2033 | 7.1% |
| Historical Analysis of Demand for Paper Cup in Korea | 2018 to 2022 |
| Demand Forecast for Paper Cup in Korea | 2023 to 2033 |
| Report Coverage | Industry Size, Industry Trends, Analysis of key factors influencing Paper Cup Adoption in Korea, Insights on Industry Players and their Industry Strategy in Korea, Ecosystem Analysis of Local and Regional Korea Providers |
| Key Regions Analyzed While Studying Opportunities in Paper Cup in Korea | South Gyeongsang, North Jeolla, South Jeolla, Jeju |
| Key Companies Profiled | Dong Hwa Industry Co., Ltd.; Kumho Paper Cup Co., Ltd.; DongBang Co., Ltd.; Daesung Paper Cup Co., Ltd.; Woosung Paper Co., Ltd.; Hwaseung Industries Co., Ltd.; Hwasung Paper Co., Ltd. |
The anticipated CAGR through 2033 is 7.1%.
Demand for paper cups in Korea is estimated to be worth USD 671.4 million by 2033.
The industry size is estimated to be USD 338 million in 2023.
Beverage is the preferred end user for paper cup in Korea.
Hot beverage cup is likely to remain a key contributor in Korea.
1. Executive Summary 2. Market Overview 3. Market Background 4. Korea Industry Analysis and Outlook 2018 to 2022 and Forecast, 2023 to 2033 5. Korea Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Capacity 5.1. 4 Oz 5.2. 8 Oz 5.3. 12 Oz 5.4. 16 Oz 5.5. 20 Oz 5.6. Other Capacities 6. Korea Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Material 6.1. Paperboard 6.2. Kraft Paper 6.3. Molded Fiber 7. Korea Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Coatings 7.1. PE Coatings 7.2. PLA 7.3. Water Based Barrier 7.4. Bio-based 8. Korea Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Distribution Channel 8.1. Direct Sales 8.2. Retail 8.3. Hypermarket 8.4. Supermarket 8.5. Convenience Stores 8.6. Speciality Stores 8.7. Distributors 8.8. Online 9. Korea Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Applications 9.1. Beverages 9.2. Cold 9.3. Hot 9.4. Food 9.5. Spreads 9.6. Sausages Dressings 9.7. Confectionary 9.8. Ice Cream 9.9. Yogurt 9.10. Drinks 10. Korea Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By End Use 10.1. Commercial Use 10.2. Hotels Cafes 10.3. Full Service Restaurants 10.4. Quick Service Restaurants 10.5. Venue Caterings 10.6. Mobile Food Vendors 10.7. Bakery and Patisserie 10.8. Institutional Use 10.9. School Colleges 10.10. Offices 10.11. Hospitals 10.12. Airports Railway 10.13. Household Use 11. Korea Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Region 11.1. South Gyeongsang 11.2. North Jeolla 11.3. South Jeolla 11.4. Jeju 11.5. Rest of Korea 12. South Gyeongsang Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 13. North Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 14. South Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 15. Jeju Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 16. Rest of Korea Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 17. Market Structure Analysis 18. Competition Analysis 18.1. Hyunjin Co., Ltd. 18.2. Yongho Industry Co., Ltd. 18.3. Konie Cups International, Inc. 18.4. Bio Futura 18.5. Berry Global Group, Inc. 18.6. Stanpac Inc. 18.7. Huhtamaki 18.8. Georgia Pacific LLC 18.9. Genpak, LLC 18.10. Pactiv LLC 18.11. Dart Container Corporation 18.12. Frugal Pac Limited 18.13. F Bender Limited 19. Assumptions & Acronyms Used 20. Research Methodology
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Demand and Sales Analysis of Paper Cup in Korea
