Disposable Cups Market -Sstand at an outstanding valuation of close to US$ 300 Mn

Global sales of disposable cups were valued at close to US$ 12 Bn in 2016 and are projected to reach more than US$ 20 Bn by 2026. Sales revenue is expected to increase at a CAGR of 5.9% in terms of value during the projected period. APEJ is anticipated to be the fastest growing market for disposable cups, registering a CAGR of 6.3% in value terms over the estimated period. By material type, the printable paper segment dominated the disposable cups market with close to 50% share in terms of revenue in 2016; while in the end use category, the food retail segment is anticipated to increase 1.5X during 2016-2026.

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Changing business models in the food and beverage industry likely to boost revenue growth in the global disposable cups market

Apart from its lightweight nature, disposable cups come in a variety of designs that are suitable for both cold and hot beverages. More often these cups are recyclable and cost-effective. Moreover, as disposable cups are made of plastic, there are fewer chances of food contamination. As a result, consumers largely prefer disposable cups over non-disposable cups and this factor is expected to create a positive impact on the growth of the global disposable cups market.

Food packaging has a great scope in the present scenario. Factors such as the changing lifestyle of people, rising per capita income, rapid urbanisation, and changing eating habits of the population have caused a major shift in focus of consumers towards on-the-go food items. The growing preference for ready-to-eat food and takeaway food has augmented market demand for good food packaging and disposable cups are apt in this scenario. This major global trend is likely to boost the global disposable cups market growth during the period of assessment.

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Further, an increasing awareness of hygienic products also fuels the growth of the global disposable cups market. There is an acute increase in the number of quick service restaurants globally and this particular trend has led various companies to recognise the inherent lucrative business opportunity. A large number of regional and global players are coming forward to invest in this market and this factor is a key driver for the tremendous growth of the global disposable cups market.

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