ALBANY, N.Y., March 21, 2022 (GLOBE NEWSWIRE) -- Businesses in the food service industry are increasingly leaning on reducing their environmental footprint with the adoption of compostable and recyclable packaging solutions, expanding revenue possibilities for packaging companies in the biodegradable cups market. Paper-based beverages packaging have in recent years gained impetus, where ban on single-use plastics in packaging has been attracting regulatory push in several countries. The global biodegradable cups market is projected to reach US$ 578.7 Mn by 2027, from its valuation of US$ 449.7 Mn in 2022.
Advancements in designs and the coating used are unlocking new business value, assert the authors of an in-depth scrutiny on the biodegradable cups market. This has incentivized adoption of biodegradable materials including coating in the packaging products. Both paper and bio-plastics are growing in use for the wide range of products for institutional users and household users.
The need for functional as well as recyclable coating is spurring the trend toward constant spirit of innovation in coatings, such as the water-based compostable coating for cups. These are gaining popularity for different types of beverages. Cafeterias, quick service restaurants, and institutional buyers are keenly adopting PE coated paper cups for ice-creams and hot beverages, thus expanding profitable opportunities for stakeholders in the biodegradable cups market.
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Key Findings of Biodegradable Cups Market Study
- Rapid Adoption of Biodegradable Cups for Beverages in Food Service Outlets Creating Vast Revenue Gains: Food outlets have been increasingly bolstering inventory for recycling of single-use PE-coated paper cups. Food service chains are working collaboratively with municipalities to facilitate recovery and recycling of biodegradable cups. The efforts by coffee chains are stridently enriching the prospects of the biodegradable cups market. Effective recycling schemes are expected to spur the adoption of products among food service outlets in several economies, note the analysts in a TMR study on the biodegradable cups market. A spate of research on cradle-to-grave life cycle assessment of single-use cups will pave the way to new frontiers in the biodegradable cups market.
- Trend of Recyclable Packaging Solutions Propelling Innovation in Designs & Coatings: The analysts scrutinizing the growth dynamics of the biodegradable cups market have observed new formulations in environmental food grade barrier coatings. The product advancements in this direction have led to constant value-addition, expanding the horizon for players in the biodegradable cups market. A number of packaging companies are expanding biodegradable water-based barrier coating solutions notably for cups used for hot beverages in order to tap into vast avenues, assert the analysts. Of note, water-based coating technology has enabled pulp and paper companies in emerging markets to develop compostable and recyclable cups. A case is point is the increasing preference of water-based dispersion coatings for sidewall and the bottom of the cups. On the other hand, the market has witnessed increased shift toward plastic barrier-free biodegradable cups.
Regulations in developed regions notably in Europe are promoting the use of sustainable and safe food packaging. The aspect is pivoting the need for constant product innovation in the biodegradable cups market.
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Biodegradable Cups Market: Key Drivers
- Changing consumer sentiment toward discontinuing or reducing the use of fossil-based plastics in food & beverages packaging is continuously boosting the market outlook of biodegradable bags, notably Millennial and Generation Z.
- Rise in food outlet chains in several emerging economies, coupled with the trend of adoption of environmental-friendly packaging, is a key driver of the biodegradable bags market.
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Biodegradable Cups Market: Regional Growth Dynamics
- The Asia Pacific biodegradable bags market is estimated to witness an expansion of approximately 1.4 times from the current valuation by the end of the forecast period of 2022–2027. Rising trend of recyclable and compostable F&B packaging in several economies are boosting the size of the regional market, observe the analysts in an in-depth TMR study. In recent years, food service outlets have proliferated in the region, thereby offering fillip to the food service packaging industry.
- North America is expected to witness new revenue streams, underpinned largely by massive advancements in recycling and composting infrastructure. These were underpinned by concerted efforts by various stakeholders to enrich the F&B products recycling chain.
Biodegradable Cups Market: Key Players
Some of the key players in the biodegradable bags market are Vegware, Go-Pak UK LTD, Eco-Products, Inc., Lollicup USA, Inc., Pactiv LLC, Dart Container Corporation, Genpak LLC, Bio Futura B.V., Fabri-Kal, Benders Paper Cup Company, and Colpac Ltd.
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Global Biodegradable Cups Market Segmentation
Biodegradable Cups Market by Capacity
- Upto 7 oz
- 8 to 14 oz
- 15 to 20 oz
- Above 20 oz
Biodegradable Cups Market by Material Type
- Paper
- Bio-plastic
- Polylactic acid (PLA)
- Polybutylene succinate (PBS)
Biodegradable Cups Market by Product Type
- Single Wall
- Double Wall
Biodegradable Cups Market by Application
- Food
- Spreads
- Sauces & Dressing
- Confectionary
- Beverages
- Hot
- Cold
- Ice-cream
Biodegradable Cups Market by End Use
- Food Service Outlets
- Quick Service Restaurants
- Hotels
- Cafes
- Institutional
- Educational & Public Institutes
- Private Institutes
- Malls & Multiplexes
- Household
Biodegradable Cups Market by Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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