NEW YORK, Oct 14, 2022 (GLOBE NEWSWIRE) — Research Nester has released a detailed market report on the “Global Reusable Coffee Cup Market” for the forecast period, i.e. 2022 to 2031, which includes the following factors:
The global reusable coffee cup market is estimated to reach $24.85 billion in revenue by the end of 2031, with a CAGR of 5.8% over the forecast period (i.e. 2022 to 2031). At the same time, the market revenue in the amount of 13.10 billion US dollars in 2019 will reach 1 billion US dollars. The growth of the global market for reusable coffee cups is primarily due to the growth of tourism worldwide. The growth in the number of tourists and the number of cafes, restaurants and hotels is driving the demand for reusable coffee cups. In addition, tea and coffee are popular refreshing drinks among tourists. According to the report of the World Tourism Barometer of the UN World Tourism Organization, in the first five months of 2022, the number of incoming tourists will be about 250 million people. In addition, the rise in tea and coffee consumption is also driving demand for reusable coffee cups. In 2020 and 2021, around 167 million 60kg coffee bags will be used worldwide. In addition, in 2018 coffee consumption in the UK was around 95 million cups per day.
The urgent need to reduce plastic waste and the rise in the use of reusable cups is expected to drive the growth of the market.
To save the environment, limiting the use of plastic is a must. Reusable coffee cups are the best alternative to plastic and disposable cups. According to the United Nations Environment Programme, 400 million tons of plastic waste is produced every year in the world. In addition, in 2018, a large amount of plastic waste was found in the stomach of a 31-foot-long marine mammal carcass, along with 115 plastic disposable cups. In addition, it is estimated that around 500 billion plastic cups are used worldwide every year. Moreover, higher demand for reusable cups is expected to boost the market. Demand for reusable cups in various London stores of the large Starbucks chain increased by 157%.
The global reusable coffee cup market is divided into five major regions, namely North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.
For more information about the analysis in this report, visit: https://www.researchnester.com/reports/reusable-coffee-cup-market/2525.
Increasing coffee shops and efforts by tourists and governments to reduce plastic waste to spur European market growth
By the end of 2031, the European reusable coffee cup market is expected to generate the highest revenue of $9,396.3 million, with a CAGR of 6.5% during the forecast period. Revenue in 2021 was $4,576.3 million. The market in this region is expected to grow due to the increase in the number of coffee houses and the growth of tourism in Europe. There are more than 25,000 coffee shops in Europe, about 75% of them are chain stores. In addition, Europe received about 670 million tourists in 2017 and almost 713 million in 2018. In addition to coffee houses and tourism, the growth of the European market has been accompanied by government regulations to reduce plastic waste, including the production of disposable cups. Only a quarter of coffee cups in the UK are recycled each year, with almost 3 billion coffee cups used and discarded in the UK. In order to control the accumulation of plastic waste, the European Commission adopted a directive in 2022 to ban the use of certain types of plastic, such as food containers, tableware, plastic bags, cups, etc.
Reducing the use of plastic and growing demand from coffee consumers is driving the growth of the North American market.
The North American market is expected to grow at a CAGR of 6.1% over the forecast period. The North American market will generate revenues of $4,370.58 million in 2021 and could reach $7,848.4 million by the end of 2031. The growth of the market is due to the growing need to control the growing amount of plastic waste. Since 1980, per capita plastic waste in the US has jumped from 60 pounds a year to 218 pounds in 2018, a 263% increase, according to statistics from the World Economic Forum. In addition, about 66% of Americans drink coffee every day, and consumption of espresso drinks has increased by almost 30% during the epidemic.
Get a PDF Sample Reusable Coffee Cup Market Report at https://www.researchnester.com/sample-request-2525.
According to the filing, by the end of 2031, the residential segment will have the largest revenue of $4,765.1 million. The segment is expected to achieve a CAGR of 6.6% over the forecast period. In addition, by 2021, this segment will bring in revenue of $2.316 billion. The growth of the segment is due to an increase in the consumption of coffee and tea. In India, about 80% of tea is consumed by the local population, and almost 80% of Indians drink tea before or during breakfast. And in New York City, coffee consumption has risen, with about 85 percent of consumers drinking at least one cup of coffee.
For more information on market share by region: https://www.researchnester.com/sample-request-2525.
For end consumers, by the end of 2031, the largest revenue in the domestic sales segment will amount to USD 4,765.1 million. This segment is expected to grow at a significant CAGR over the forecast period. In addition, this segment will generate $2.316 billion in revenue in 2021. The growth of this segment is driven by increased consumption of coffee beans and freshly brewed coffee at home in various regions of the world. Nearly 30% of Polish households buy and consume coffee. The annual coffee market is valued at about US$6 billion, about half of which is in the residential sector. In addition, in the UK, about 80% of households buy instant coffee. Moreover, over 90% of Indian households consume tea.
Some of the recognized leaders in the global reusable coffee cup market are Research Nester LLC, GlobalWAKEcup, KeepCup, Circular&Co., Frank Green, Ecoffee Cup, Tread Light Ltd., Klean Kanteen, Tefal, Joco Cups, Keurig Green Mountain, Inc. ., YETI COOLERS, LLC. and others.
Segmentation of the cloud kitchen market by type (standalone cloud kitchen, store/shared kitchen and kitchen pods), by nature (franchise and standalone), and by type of product (hamburgers/sandwiches, pizza/pasta, chicken, seafood, Mexican/Asian food) . and others) – Analysis of global demand and prospects for opportunities up to 2031. Segmentation of the alginate market by product (food, pharmaceutical, technical and feed alginates), by application (food additives, pharmaceutical and medical devices, paper and pulp, personal care products and cosmetics, textiles). , pet food, etc.) – Global Demand Analysis and Opportunity Forecast 2021-2031 Segmentation of the POP flooring market by type of material (corrugated cardboard, foam board, cardboard, plastic board, glass, metal), by sales channel (hypermarkets, supermarkets, department stores, specialty stores, convenience stores, etc.) by end users (food and beverage, cosmetics and personal care products, pharmaceuticals, printing and stationery, electronics, automobiles, etc.) – 2031 2019 global demand and outlook analysis Deodorant market by Product type (spray, roll-on applicator, pencil, etc.); By distribution channel (supermarket / hypermarket, convenience store, pharmacy, online store, etc.); By packaging material (metal, plastic, glass, etc.). ) – Global Demand Analysis and Opportunity Outlook Analysis of the Japanese Synthetic Leather Market by Product Type until 2031 {Polyurethane [PU] (thermoplastic polyurethane [TPU] and polyurethane resin) and polyvinyl chloride [PVC]}; By end user {Footwear (functional shoes, etc.), furniture (sofas and chairs), upholstery (upholstery and trim, etc.), automotive (seats, doors, etc.), sporting goods , clothing (fashion clothing, etc.) and others} – Japan Supply and Demand Analysis and Opportunity Forecast 2021-2031.
Research Nester, a one-stop service provider with a client base in over 50 countries, is a leader in strategic market research and consulting, helping global industry players, conglomerates and executives invest in the future with an unbiased and unrivaled approach while avoiding looming threats. uncertainty. We prepare statistical and analytical reports on market research with out-of-the-box thinking, provide strategic advice so that our clients can clearly make informed business decisions, strategize and plan their future needs and achieve success in their future endeavors. We believe that with the right leadership and strategic thinking at the right time, every business can break new ground.
For more information contact: AJ Daniel Email: info@researchnester.com Phone: +1 646 586 9123 UK Phone: +44 203 608 5919
Post time: Sep-05-2023