Press release
Disposable Cutlery Market Outlook 2024: Exclusive Report By The Business Research Company
The Business Research Company offers in-depth market insights through Disposable Cutlery Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The disposable cutlery market size has grown steadily in recent years. It will grow from $6.36 billion in 2023 to $6.68 billion in 2024 at a compound annual growth rate (CAGR) of 5.0%. The growth in the historic period can be attributed to rise in single-use culture, urbanization and busy lifestyles, growing food delivery services, increasing awareness of plastic pollution, expanding foodservice industry.
The disposable cutlery market size is expected to see strong growth in the next few years. It will grow to $8.37 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to preference for sustainable packaging, e-commerce growth, customization and branding opportunities, public health concerns, cultural shifts in dining habits. Major trends in the forecast period include technological advancements in materials, biodegradable and compostable materials, rise of plant-based plastics, emphasis on design and aesthetics, innovations in material alternatives.
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Market Segmentation:
The disposable cutlery market covered in this report is segmented -
1) By Type: Spoon, Fork, Knife
2) By Material: Plastic, Wood
3) By Sales Channel: Supermarkets, Hypermarkets, Convenience Stores, Specialty Stores, Discount Stores, E-Retail
4) By End User: Food Service Outlets, Institutional Food Services, Online Food Ordering
Major Driver - Fast Food Restaurant Penetration Fuels Disposable Cutlery Market Growth
The rise in penetration of fast food restaurants is expected to propel the growth of the disposable cutlery market going forward. Fast food restaurants are places where patrons can order, pay for, and pick up hot or cold food and drinks from counter service, whether or not they'll be consumed there or elsewhere. Disposable cutlery is useful in fast food restaurants as they are super hygienic, water-saving, and economic-friendly. For instance, in March 2023, according to EatPallet, a US-based giant restaurant chain, there are 197,163 fast food restaurants in the US in 2022, an increase of 0.6% per year on average over the five years. Therefore, the rise in penetration of fast food restaurants is driving the disposable cutlery market.
Competitive Landscape:
Major companies operating in the disposable cutlery market report are Huhtamaki Oyj, Pactiv LLC, Georgia-Pacific LLC, Dart Container Corporation, D&W Fine Pack, Biopac UK Ltd, Novolex Holdings Inc., Genpak LLC, Vegware Ltd., Gold Plast SpA, Hotpack Group, Dopla SpA, Anchor Packaging Inc., Fast Plast A/S, I.L.P.A. SpA Group, Plastico Limited, Isap Packaging Spa, Dixie Consumer Products LLC, International Tableware UK Ltd., Lancaster Commercial Limited, Apollo Global Management Inc., Fuling Global Inc., Solia Inc., TrueChoicePack corp, Lollicup USA Inc., Swantex A/S, Eco Guardian LLC, Bambu Home LLC, World Centric PBA, GreenGood USA, Bio Futura BV
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Top Trend - Eco-Friendly Innovations For Sustainable Solutions Takes The Lead In The Disposable Cutlery Market
Major companies operating in the disposable cutlery market are focused on introducing advanced and sustainable products such as recyclable and compostable disposable cutlery to gain a competitive edge in the market. Such innovative products are designed to provide the customers with durable and viable alternative of plastic. For instance, In June 2023, Sabert Corp., a US-based manufacturer of innovative food packaging products launched its new patented 'EcoEdge Paper Cutlery' product line. The product line includes sharp fork, spoon, serrated knife, and others that are manufactured from FSC-certified renewable resources. The EcoEdge paper cutlery products are designed to stand up against all type of foods such as hot, warm and cold foods that includes soups, ice-cream, oatmeal, and others. These sustainable cutlery goods have smooth finish, natural look, high strength and durability that enhances the dining experience for dine-in consumers, to-go and food-away-from-home customers too.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Disposable Cutlery Market Characteristics
3. Disposable Cutlery Market Trends And Strategies
4. Disposable Cutlery Market - Macro Economic Scenario
5. Disposable Cutlery Market Size And Growth
…..
27. Disposable Cutlery Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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