Biodegradable Cups Market

Biodegradable Cups Market Research, 2031

The global biodegradable cups market size was valued at $458.1 million in 2021, and is projected to reach $1.1 billion by 2031, growing at a CAGR of 8.5% from 2022 to 2031. Biodegradable substances are the materials that are able to decay naturally by the action of microorganisms. The biodegradable cups are made of the PLA coating, sugarcane starch, wheat straws, corn, and paper that can effectively disposed and recycled. The PLA coating is also known as poly-lactic acid that is derived from renewable and biodegradable materials. The manufacturers are improving the value added features of the biodegradable cups such as heat resistance, heat sealing, and water based elements that pose no risk for environment. The biodegradable cups are categorized into two types—biodegradable paper cups and biodegradable plastic cups.

The biodegradable cups market was briefly hampered during the outbreak of COVID-19. However the market recovered quickly as need for sustainable products raised post pandemic.

The global biodegradable cups market is in the introductory phase of the industry life cycle and is expected to explore new growth opportunities during the coming years. Some of the basic factors driving the growth of the market include governmental initiatives to eliminate single use plastic and strict regulatory outlook against the use of conventional plastic products for manufacturing of cups.

Industry trends are shifting toward biobased products to reduce dependence on conventional plastics for cups. Moreover, most of the manufacturers in industries such as packaging, textile and agriculture are shifting toward biobased plastic for manufacturing cups due to stringent regulations from the government. Such factors are largely impacting the biodegradable cups market growth. On the other hand, the growth of the market is negatively impacted by high cost of biodegradable cups over its conventional counterparts.

During the outbreak of the COVID-19 pandemic, construction, manufacturing, hotel, and tourism industries were majorly affected. Manufacturing activities were halted or restricted. This led to decline in manufacturing of various equipment used for biodegradable cups as well as their demand in the market, thereby restraining the growth of the biodegradable cups market.

Conversely, industries are gradually resuming their regular manufacturing and services. This is expected to lead to re-initiation of biodegradable cups companies at their full-scale capacities, that helped the biodegradable cups market share to recover by end of 2021.

The biodegradable cups market is segmented into type, application and capacity. By type, the market is fragmented into single walled, double walled and triple walled. By application, the market is categorized into food and beverages. By capacity, the market is divided into up to 7 oz, 8-14 oz and 14-20 oz.

On the basis of type, in 2021 the single walled segment dominated the biodegradable cups market, in terms of revenue, and triple walled segment is expected to witness growth at the highest CAGR during the forecast period. As per application, in 2021, the beverages segment led the market, and the food segment is expected to exhibit highest CAGR in the near future. By capacity, the up to 7 oz segment led the market in 2021, in terms of revenue and the 14-20 oz segment is anticipated to register highest CAGR during the forecast period. Region wise, Europe garnered the highest revenue in 2021; however, LAMEA is anticipated to register highest CAGR during the forecast period.

COMPETITION ANALYSIS

The major players profiled in the biodegradable cups market report include Bio Futura, B-V-O International GmbH, Colpac Ltd., Dart Container Corporation, Fabri-Kal, F Bender Limited., Genpak, LLC, Good Start Packaging, Go-Pak Group, Huhtamaki, KONIE CUPS INTERNATIONAL, INC., Lollicur USA Inc., Novolex, Nupik-Flo UK LTD., Pactiv LLC, Scyphus and WorldCentric.co. Major companies in the market have adopted product launch, partnership, business expansion, and acquisition as their key developmental strategies to offer better products and services to customers in the biodegradable cups industry.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the biodegradable cups market analysis from 2021 to 2031 to identify the prevailing biodegradable cups market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the biodegradable cups market forecast.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global biodegradable cups market trends, key players, market segments, application areas, and market growth strategies.

 Biodegradable Cups Market Report Highlights