Market Forecast Report on Disposable Cups 2017-2027
The term disposable cups came into limelight in early 1900s when health hazards related to usage of common cups became evident. This developed the need for developing disposable cups and in the process, a new market was created. The growing demand for snacks and related products in place of traditional meals has led to an increase in demand for disposable cups. The disposable paper cups are lined with plastic or wax to prevent them from becoming soggy and also to prevent leakage. Paper cups are segmented into hot and cold cups. Cold cups have a coating of wax on both sides so that it doesn’t get wet due to absorption of liquid. The hot cups, on the other hand, are specifically made to withstand heat and therefore, are only coated on one side.
There are several consumer trends which have accelerated the growth of the disposable cups market -- a rise in the number of non-traditional families that prefer having their meals outside home, urbanization, the growing middle-class, and the coffee-on-the-go trend are some such factors. Moreover, there are several technology and product-based trends -- less plastic and more paper-based packaging, sustainability and convenience -- which are shaping the disposable cups market. However, the paper cups industry will benefit most from the restrictions imposed on polystyrene foam disposables, environmental concerns about foam cups, and also from the switch made by big food chains from foam to paper cups.
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Disposable Cups Market - Market Dynamics:
The growth in the disposable cups market is expected to be driven by the growth in the quick service restaurants industry, which is expected to grow at a CAGR of 6% for the period between 2016 and 2024. Moreover, modernization as well as the fast-moving lifestyle of today have been pivotal factors driving growth in the disposable cups market. The adoption of on-the-go eating culture along with an increase in health consciousness and sanitization led restaurants, cafes and other food outlets to serve their drinks in disposable cups and hence, drove the demand for disposable cups. However, few restaurant chains and outlets have started deploying some strategies to reduce the usage of disposable cups due to its negative impact on the environment. These outlets promote the usage of reusable cups and also offer discounts to customers who use reusable mugs for to-go orders. In addition, recent government regulations like ban on disposable cups, regulations against the usage of plastic, etc. are expected to hinder the growth of disposable cups market.
Disposable Cups Market- Market Segmentation:
Based on product type, the global disposable cups market is segmented into following:
Hot Paper cups
Cold Paper cups
Polystyrene foam cups
Based on end users, the global disposable cups market is segmented into following:
Quick service restaurants
Coffee and Snack Shops
Fast Casual Restaurants
Organizations like Railways, Airlines etc.
Public & Private functions
Based on Application, the global disposable cups market is segmented into following:
Disposable Cups Market - Regional Outlook:
Geographically, the global disposable cups market is segmented into North America, Latin America, Europe, Asia-Pacific (APAC) and the Middle East & Africa (MEA). The global disposable cups market is expected to grow at a CAGR of around 5% for the forecast period of 2016 to 2024. While North America is expected to witness an above global average growth in disposable cups market due to its growing foodservice industry as well as an increase in consumer spending, it is the Asia Pacific region which will most likely witness the fastest rates of growth in disposable cups market due to the general improvements registered in developing economies like India & China.
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Disposable Cups Market - Key Players:
Some of the major players identified across the globe in the disposable cups market are International Paper Company, Dart Container Corporation, Konie Cups International Inc, Huhtamaki N.A., Solo Cup Company, Lollicup USA, Inc, Letica Corporation, Manohar International Pvt. Ltd (MIPL), Georgia-Pacific LLC, and Guangzhou Kangbao Paper Cup.
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