Vending Cups Market Size Worth $2.92 Billion By 2032 | CAGR: 3.1%
The global vending cups market size is expected to reach USD 2.92 billion by 2032, according to a new study by Polaris Market Research. The report “Vending Cups Market Share, Size, Trends, Industry Analysis Report, By Material Type (Paper-Based, Plastics, and Others); By Cup Size; By Application; By Region; Segment Forecast, 2022 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The rising use of vending cups over plastic cups is growing due to their various benefits for the environment. Nowadays, it's usual to observe people favoring paper cups over those made of plastic materials. The key players' focus to eliminate plastic use and also the launches of paper-based cups is growing the market.
For instance, in July 2022, the manufacturer of sturdy, compostable paper SOFi Straws, SOFi Products, based in Miami, announced the launch of the first 100% biodegradable cup that does not require a plastic cover. There are currently no cups available on the market that are 100% biodegradable and do not require a plastic top, according to Brandon Leeds, a co-founder of SOFi. This consumer tendency has led to an increase in the use of paper cups by businesses like quick-service restaurants, cafeterias, and other catering service providers.
Moreover, global paper cup use will rise as a result of strict government regulations and laws regulating the use of plastic packaging, expanding paper recycling efforts, and the availability of major fast food chains. According to the EPA, more than 292 million tonnes of municipal solid garbage were generated in 2018, according to a report by the U.S. Environmental Protection Agency. 25 million tonnes of the whole amount of municipal solid trash produced were composted, while approximately 69 million tonnes were recycled. The sales will also be boosted throughout the predicted period by growing government initiatives aimed at decreasing municipal solid waste, such as banning plastic packaging in the food industry and raising awareness of the value of paper cups.
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Additionally, the public and private players are also collaborating for reducing the use of plastic and recycling plastics. For this, they are developing programs that are helpful for the environment. For instance, in September 2022, Huhtamaki & Stora Enso teamed up to introduce “The Cup Collective”, a brand-new program for recycling the paper cups. Therefore, the rising government regulations for reducing plastics use, increasing recycling programs, as well as launches of 100% bio-degradable paper bags are supporting the market to growth.
Vending Cups Market Report Highlights
- The paper-based segment is anticipated to grow at a high CAGR over the forecast period. Increased health concerns, excessive product packaging, and extensive use of paper-based vending cups.
- The less than 7oz segment accounted for highest of the global revenue share which is accelerated by the benefits such as it is ideally suited for family gatherings, small family functions
- North America is expected to grow at a high CAGR over the projected period on account of due to a rise in the requirement for disposable paper cups in the industrial and commercial sectors in the region.
- The global players include Conver Pack, Grupo Phoenix, Graphic Packaging, International Paper, Jiangsu Xinyu Bio-Tech, and Kap Cones.
Polaris Market Research has segmented the Vending Cups market report based on material type, cup size, application, and region:
Vending Cups, Material Type Outlook (Revenue - USD Billion, 2019 - 2032)
- Paper-based
- Prism Paper
- Molded Pulp Fiber
- Plastic
- Polypropylene (PP)
- Polyethylene (PE)
- Polystyrene (PS)
- Polyamide (PA)
- Others
- Others
Vending Cups, Cup Size Outlook (Revenue - USD Billion, 2019 - 2032)
- 8-12 oz Vending Cups
- 12-15 oz Vending Cups
- 15-20 oz Vending Cups
- Vending Cups Sizing More than 20 oz
Vending Cups, Application Outlook (Revenue - USD Billion, 2019 - 2032)
- Vending Cups for Hot Beverages
- Tea
- Coffee
- Hot Chocolate
- Others
- Vending Cups for Cold Beverages
- Carbonated Beverages
- Alcoholic Beverages
- Juices
- Others
- Vending Cups for water
Vending Cups, Regional Outlook (Revenue - USD Billion, 2019 - 2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Latin America
- Argentina
- Brazil
- Mexico
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
Vending Cups Market Report Scope
| Report Attributes | Details |
| Market size value in 2023 | USD 2.22 billion |
| Revenue Forecast in 2032 | USD 2.92 billion |
| CAGR | 3.1% from 2023 - 2032 |
| Base year | 2022 |
| Historical data | 2019 - 2021 |
| Forecast period | 2023 - 2032 |
| Quantitative units | Revenue in USD billion and CAGR from 2023 to 2032 |
| Segments Covered | By Material Type, By Cup Size, By Application, By Region |
| Regional scope | North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
| Key Companies | Conver Pack., Dart Container Corporation, Eco-Products, F Bender Limited, Genpak, Grupo Phoenix, Graphic Packaging International, Georgia-Pacific, Huhtamaki, International Paper, Jiangsu Xinyu Bio-Tech, Konie Cups International, and Kap Cones |
| For Specific Research Requirements |
