US Paper Cups and Paper Plates Market Report: Trends, Growth, Share and key Players Till 2023
United States, 4 January 2019 -- The US paper cups and paper plates market has been witnessing a positive growth over the past few years. This can be attributed to the properties of paper cups and paper plates like cost-effectiveness, light-weight, biodegradability, etc. along with growing environmental concerns.
The latest report by IMARC Group, titled “US Paper Cups and Paper Plates Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, finds that the United States paper cups and paper plates market reached a value of more than US$ 20.5 Billion in 2017. Paper cups and paper plates are disposables made out of paper. They are often coated with wax or plastic to help them retain moisture, withstand heat and prevent them from becoming soggy. Paper cups and paper plates play a major role as they are degradable, easy to use and carry, and recyclable. In addition to this, their eco-friendly nature has expanded their usage worldwide. Moreover, as the United States has a well-established food and beverage industry, it represents one of the largest markets of paper cups and paper plates across the globe.
Highlights of the US paper cups and paper plates market:
• The thriving food and beverage industry is the key growth-inducing factor.
• Paper cups represent the most popular product type, accounting for the majority of the total share.
• By 2023, the market is expected to reach a value of US$ 21.7 Billion.
The high level of fast food consumption in the United States is providing a thrust to the food service industry which requires paper disposables for packing and serving food and beverages. This is anticipated to propel the growth of the United States paper cups and paper plates market. Additionally, consumers prefer to use paper disposables as they help in saving time and efforts, thereby encouraging their demand in the region. Further, the manufacturers are offering improved product variants such as paper cups and plates with advanced substrate technology so as to prevent the contamination of packaged food items by grease and oxygen. Owing to these factors, the United States paper cups and paper plates market is anticipated to reach a value of US$ 21.7 Billion by 2023, exhibiting a CAGR of more than 0.8% during 2018-2023.
The report by IMARC Group has examined the US Paper Cups and Paper Plates Market on the basis of:
Market Segmentation by Product Type:
• Paper Cups
• Paper Plates
On the basis of product type, the market has been segmented as paper cups and plates. Currently, paper cups represent the most popular product type. The paper cups segment is further segregated into hot paper cups and cold paper cups, and single wall paper cups and double wall paper cups. Whereas, the paper plates segment is categorised as heavy-duty paper plates and medium-duty paper plates.
• International Paper
On evaluating the competitive landscape of the market, it is found that the key players include International Paper, Dart, Dixie, Hefty and Huhtamaki.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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