After a detailed analysis of the packaging domain, FMI recently published a new report on the PET cup market. As per the analysis, demand for PET cups holds a current market valuation of USD 579 million in 2024.
Going by this trend, demand could eventually rise and equate to a market valuation of USD 989.1 million, with a CAGR of 5.50% by 2034.
| Attributes | Details |
|---|---|
| PET Cup Market Value for 2024 | USD 579 million |
| PET Cup Market Value for 2034 | USD 989.1 million |
| PET Cup Market Forecast CAGR for 2024 to 2034 | 5.5% |
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As key markets such as the United States and Europe attain maturity in the packaging sector, the scope for PET Cups is poised to remain moderate in the next few years.
| Historical CAGR | 4.7% |
|---|---|
| Forecast CAGR | 5.5% |
The PET cup market has demonstrated a historical CAGR of 4.7%, showcasing steady expansion. With a forecasted CAGR of 5.5%, the market is poised for even stronger growth in the coming years.
The upward trajectory can be attributed to propelling consumer demand for convenient and sustainable packaging solutions, growing awareness about environmental concerns, and expanding applications across sectors like food and beverage, healthcare, and hospitality.
Innovations in PET cup designs and manufacturing processes tend to compel market growth, catering to evolving consumer preferences and industry regulations.
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The below section shows the leading segment. Based on the end use, the food service segment is accounted to hold a market share of 24% in 2024. Based on capacity type, the 10-15 Oz segment is accounted to hold a market share of 27% in 2024.
| Category | Market Share in 2024 |
|---|---|
| Food Service | 24% |
| 10-15 Oz | 27% |
Based on end use, the food service sector is accounted to hold a market share of 24% in 2024. The food service industry encompasses many establishments, including restaurants, cafes, fast food outlets, catering services, and food trucks, which extensively utilize PET cups to serve beverages, desserts, salads, and other food items.
PET cups' convenience, durability, and cost-effectiveness make them particularly well-suited for the fast-paced and on-the-go nature of the food service sector.
The rise in takeout, delivery, and outdoor dining trends further drives the demand for PET cups in this segment, as they offer customers hygienic and portable packaging solutions.
Based on capacity type, the 10-15 Oz sector is accounted to hold a market share of 27% in 2024. The 10-15 oz capacity range strikes a balance between serving size and portability, making it suitable for a diverse array of drinks such as soft drinks, juices, iced teas, and coffees, as well as snacks and desserts.
Consumers often prefer this size range for single servings in both commercial food service establishments and retail settings, contributing significantly to its market share within the PET cup segment.
The 10-15 oz segment also caters to the growing demand for portion control and moderation, aligning with consumer preferences for healthier consumption habits.
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The table mentions the top five countries ranked by revenue, with India holding the top position. India dominates the PET cup market due to its vibrant street food culture, bustling urbanization, and increasing demand for on-the-go beverages.
PET cups are widely utilized in street food stalls, juice bars, and tea shops, catering to the convenience and portability preferences of Indian consumers amidst rapid urban lifestyle changes.
Forecast CAGRs from 2024 to 2034
| Countries | CAGR from 2024 to 2034 |
|---|---|
| United States | 5.2% |
| Germany | 5% |
| United Kingdom | 4.9% |
| China | 5.6% |
| India | 5.7% |
The PET cup market is primarily used across various sectors in the United States, including food service establishments such as fast food chains, restaurants, cafes, and convenience stores.
With a strong emphasis on convenience and on-the-go consumption, PET cups are widely used for serving beverages like soft drinks, iced teas, coffees, and smoothies. PET cups' versatility, durability, and recyclability make them a preferred choice for consumers and businesses in the United States.
In Germany, known for its robust recycling infrastructure and environmental consciousness, the PET cup market is predominantly utilized in food service outlets, including beer gardens, cafes, and bakeries.
The consumers of Germany often opt for PET cups for their outdoor dining experiences, festivals, and picnics due to their lightweight and shatterproof properties.
A growing trend towards using PET cups in public events and gatherings as an alternative to traditional glassware, enhancing convenience and safety while reducing the risk of breakage and litter.
The PET cup market finds extensive usage in the food and beverage industry in the United Kingdom, particularly in cafes, fast-food chains, and sporting events.
With a culture of takeaway coffee and a rise in preference for on-the-go meals, PET cups are commonly used for serving hot and cold beverages like tea, coffee, and smoothies.
In China, the PET cup market experiences significant usage across various sectors, including street food vendors, bubble tea shops, and convenience stores.
With a burgeoning urban population and a thriving food culture, PET cups are widely used to serve beverages such as bubble tea, fruit juices, and milk tea, reflecting the country's enthusiasm for novel and trendy drinks.
The PET cup market in India is predominantly utilized in street food stalls, juice bars, and tea shops, catering to the diverse culinary landscape and bustling street food culture.
PET cups are extensively employed for serving traditional beverages such as chai (tea), lassi (yogurt drink), and nimbu pani (lemonade), offering a hygienic and convenient packaging solution for on-the-go consumption.
PET cups are widely used for packaging fruit juices, milkshakes, and flavored sodas in quick-service formats, reflecting the evolving preferences of Indian consumers towards convenient and portable food and beverage options.
The market is driven by innovation in sustainable packaging solutions, customization options, and strategic partnerships as companies strive to meet evolving consumer demands while adhering to regulatory standards and environmental concerns.
Some of the key developments
| Attributes | Details |
|---|---|
| Estimated Market Size in 2024 | USD 579 million |
| Projected Market Valuation in 2034 | USD 989.1 million |
| Value-based CAGR 2024 to 2034 | 5.50% |
| Forecast Period | 2024 to 2034 |
| Historical Data Available for | 2019 to 2023 |
| Market Analysis | Value in USD million |
| Key Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; Middle East and Africa |
| Key Market Segments Covered | End-use, Capacity, Distribution Channel, Region |
| Key Countries Profiled | The United States, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, Russia, Poland, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC countries, South Africa, Israel |
| Key Companies Profiled | Ningbo Yi Sheng Plastic Co. Ltd.; Huhtamaki Oyj; NNZ Group; Macpac S.A.; Sonoco Products Company; Temma Shiki Co. Ltd |
As of 2024, the market for PET cups is expected to be valued at USD 579 million.
The PET cup market is projected to expand at a CAGR of 5.50% between 2024 and 2034.
The 10-15 Oz PET cup segment experiences high demand, accumulating a market share of 27% in 2024.
By 2034, the market value of the PET cup is expected to reach USD 989.1 million.
India is likely the top-performing market, with a CAGR of 5.7%.
1. Executive Summary
2. Market Overview
3. Market Background
4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034
5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Capacity
5.1. 0 to 10 Oz
5.2. 11 to 15 Oz
5.3. 16 to 20 Oz
5.4. 21 to 25 Oz
6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End Use
6.1. Food Service
6.2. Bars & Pubs
6.3. Restaurants
7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Distribution Channel
7.1. Hypermarket
7.2. Supermarket
7.3. Departmental Stores
7.4. E-commerce
7.5. Direct Sales
8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
8.1. North America
8.2. Latin America
8.3. Western Europe
8.4. Eastern Europe
8.5. South Asia and Pacific
8.6. East Asia
8.7. Middle East and Africa
9. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
10. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
11. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
12. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
13. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
14. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
15. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
16. Key Countries Market Analysis
17. Market Structure Analysis
18. Competition Analysis
18.1. Ningbo Yi Sheng Plastic Co., Ltd.
18.2. Huhtamaki Oyj
18.3. NNZ Group
18.4. Macpac S.A.
18.5. Sonoco Products Company
18.6. Temma Shiki Co., Ltd
19. Assumptions & Acronyms Used
20. Research Methodology
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PET Cup Market
