Disposable Cups Market Demand to Increase at 5.7% CAGR Between 2021 and 2031

Disposable cups market is estimated to register high growth with the overall valuation forecast to reach US$ 10.6 Bn in 2021. FMI also has projected disposable cups demand to increase at 5.7% CAGR between 2021 and 2031.

Global sales of disposable cups will total ~600 billion units in 2019, representing a 3.3 percent increase from 2018, according to the latest research from Future Market Insights. The disposable cups market is projected to grow at ~4% CAGR during the period, 2019-2029, driven by affordability and easy availability along with increasing consumption of non-alcoholic beverages which led to proliferation of café retail chains and international coffee shops, especially in developing countries.

Due to growing prominence of the 'throw away culture, disposable cups are continuously making their way into landfills and marine environment, subsequently raising potential concerns among environmental groups and consumers adopting 'zero-waste' culture. Manufacturers who are keeping the innovation quotient high by adopting sustainable solutions are likely to be rewarded in the long run.

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Despite stagnant sales amid COVID-19, disposable cups demand will surge from 2021 onwards, albeit gradually. Global consumption of disposable cups is forecast to reach 462.2 Bn Units by the end of 2021. The market has been projected to expand at 5.3% CAGR over the forecast period in terms of volume.

Today's lifestyle has become expeditious and consumers are always on the go. As a cost-effective and convenient options disposable cups come handy as they take a sip into their favorite beverages while running for daily errands.

"With the rising preference for dining out, the popularity of on-the-go beverages and growing awareness about eco-friendly packaging solutions will fuel the demand for disposable cups. Also the expansion of foodservice chains, hypermarkets, and quick-service restaurants will boost sales opportunities in the disposable cups market," says FMI analyst.

Disposable Cups Market by Category -

By Material Type:

Paper

Plastic

Foam

By Capacity:

Less than 250 ml

250 to 750 ml

Above 750 ml

By Application:

Food

Beverages

By End User:

Food Serve

Food Retail

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Exponential growth of online food ordering also will create opportunities for sales of disposable cups. Foodservice providers prefer disposable cup because they are tamper-proof and keep beverages safe from contamination during transportation. Plastic disposable takeaway cups are economical, solid, and insulation can extend both the hot and cold liquids delivery time.

Additionally, disposable cups with lids and straw slots are easier for quick delivery without the fear of leakage and pouring. Disposable cups do not require much storage space and are extremely easy to carry during transportation and serving.

Food service providers choose paper or disposable plastic cups over glass because they are unbreakable, time-saving, and easy to clean. Therefore, many fast food joints, cafeterias, and food malls opt for disposable cups as a reliable, safe, and convenient packaging solution to offer quickest delivery to the customers.

Competitive Landscape

Companies operating in disposable cups market are aiming at strategic partnerships with other manufacturers to expand their product manufacturing capabilities, and focusing on innovation and sustainability.

In April 2021, Greiner Packaging International GmbH launched new sustainable r-PET cups for beverages, accommodating economic, environmental, and social considerations.
In November 2020, Berry Global Inc. launched Bantam™ Drink Cups, an innovative and made from recyclable polypropylene.
In July 2019, Huhtamaki Oyj partnered with First Mile a leading recycling company. The First Mile Company will collect disposable cups from customers from various coffee chains, restaurants, and others.

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Key Points Covered in Disposable Cups Market Survey

Market Estimates and Forecast 2014-2031

Key Drivers and Restraints Impacting Market Growth

Segment-wise, Country-wise, and Region-wise Analysis

Competition Mapping and Benchmarking

Market Share Analysis

Key Product Innovations and Regulatory Climate

COVID-19 Impact on Disposable Cups Market and How to Navigate

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Contact:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA

About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.