Disposable Cups Market Overview
A disposable cup is a type of disposable utensils used for beverage packaging and beverage serving in hotels, restaurants, commercial places and at homes. Features of disposable cups such as recyclability, lightweight and other physical attributes have made them leading choice for packaging and serving food and beverages. These cups are capable of holding both hot and cold beverage products which has increased their demand in food and beverages industries. Low cost of disposable cups and easy availability have made disposable cups more popular among food and beverages industries. However, disposable cups are made of plastic which has raised question about impact of plastic cups disposal on the environment.
Market Size & Forecast
Global disposable cups market is expected to flourish at a compound annual growth rate (CAGR) of 6.1% over the forecast period 2017-2024. Global disposable cups market stood at a valuation of near about USD 12.1 Billion in 2016.Further, global disposable cups market is projected to reach at a valuation about USD 20.5 Billion by the end of 2024 owing to the factors such as population growth and emergence of new food & beverages industries.
Geographically, global disposable cups market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa Region. In terms of value, Asia Pacific region is anticipated to flourish at fastest compound growth rate (CAGR) of 6.5% over the forecast period. Population growth and increasing disposable income are some major factors which are expected to make Asia Pacific fastest growing region for the disposable cups market. Further, China is a major contributor to the growth of disposable cups market in Asia Pacific region due to presence of major disposable cup manufacturing industries. Further, Asia Pacific region is expected to behold this positive growth in near future.
In terms of market share, North America region is projected to capture around 26% market share of the global disposable cups market and is expected to witness remarkable growth during the forecast period. Printed type disposable cups are dominating the global disposable cups market with share more than 45% in 2016 and are expected to continue their dominance in near future. Moreover, Europe region is also projected to witness a satisfactory growth rate during forecast period.
Our-in depth analysis of the global disposable cups market includes the following segments:
By Material Type
By Design Outlook
By End User
Global disposable cup market is further classified on the basis of region as follows:
Growth Drivers & Challenges
Global disposable cups market is driven by various features of disposable cups such as recyclability, light weight, low cost and other physical attributes. These features are expected to foster the demand for disposable cups in near future. Rising preference of outside dining, increasing disposable income, growing middle class, are some major drivers to the growth of global disposable cups market. Further, emergence of new restaurants and food courts is envisioned to bolster the global disposable cup market.
Apart from this, eating on the go trend and rising health consciousness have led to the food courts and restaurants to serve their drinks in disposable cups. Further, attractive printed disposable cups are expected to impel the demand for disposable cups in near future. In addition to this, rising consumption of fast food and take away food trend due to fast life style of the consumers are expected to contribute to the growth of global disposable cups market in near future. Disposable cups made of bio-plastic materials and other such material products are also anticipated to propel the demand for disposable cups over the forecast period.
However, some kind of disposable cups are made of plastic and causing harm to the environment from disposing waste plastic disposable cups and increasing production of plastic disposable cups. Further, such factors are expected to hinder the growth of global disposable cups market during the forecast period.
Scope & Context
Overview of the Parent Market
The global disposable cups market is segmented as follows:
Supply & Demand Risk
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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