Disposable Cups Market Size, Share & Trends Analysis Report By Product (Paper, Plastic, Foam), By End-use (Commercial, Institutional, Household), By Region, And Segment Forecasts, 2021 - 2028
New York, Sept. 23, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Disposable Cups Market Size, Share & Trends Analysis Report By Product, By End-use, By Region And Segment Forecasts, 2021 - 2028" - https://www.reportlinker.com/p06046006/?utm_source=GNW
Disposable Cups Market Growth & Trends
The global disposable cups market size is expected to reach USD 20.76 billion by 2028. It is expected to expand at a CAGR of 7.2% from 2021 to 2028. The hectic lifestyle and long working hours are known to contribute to the demand for disposable utensils to save the time of the consumers. Availability of new and improved products for takeaway services is also anticipated to positively influence the market growth. The easy availability of customized cups with attractive colors, prints, and messages is driving the product demand in household parties and other corporate events.
The disposable cups come in various designs and shapes and can be a valuable addition to business.In addition, they offer the opportunity for branding, helping to spread the awareness of the business.
The availability of an extensive product range in all price segments in supermarkets, hypermarkets, departmental stores, and other offline sales outlets is foreseen to make them more accessible to the common public. Furthermore, the easiest way to purchase disposable cups is online.
Sales of disposable cups through online channels are foreseen to witness traction on account of the availability of products, such as a printed or plain white cup, from several players, along with convenient delivery options.Additionally, most of the websites have information about size, price, and the substances that are used to manufacture the cup.
This way consumers can make an informed decision and also be sure that the product is made of natural substances and hence recyclable.
Amid the Covid-19 pandemic, several brick-and-mortar stores have taken a major hit owing to the need for social distancing in most infected countries, however, e-commerce has emerged as the go-to distribution channel for supplies since the outbreak.
Consumers’ love for hot beverages, such as coffee, and other takeaway foods support an enormous consumption of disposable cups across the globe.However, disposable cups made of plastic or other materials are quite harmful to our planet and also imply serious problems.
Sometimes, regular paper cups come with a plastic lid, which needs to be disposed of separately, and they harbor a plastic lining, which impairs their recycling. Thus, manufacturers operating in the market are focusing on introducing a plastic-free, disposable takeaway cup that breaks down completely in soil and has a unique folding top to prevent spills.
For instance, in December 2020, ButterflyCup launched a plastic-free lidless disposable cup in Britain that is entirely composed of paper, with plant-derived inks, and a water-based dispersion coating that keeps it from leaking.The cup can be composted or recycled with other paper and cardboard waste, thus making it totally sustainable.
As per the company, the novel cup will premiere at Wildfowl & Wetlands Trust (WWT) centers across the U.K. However, it is already being used in 20 countries across the globe.
By product, paper disposable cups are foreseen to witness the fastest growth over the forecast period.The growing consumer concerns over the deteriorating environment and rising intolerance toward the use of plastic products, such as cups, are fueling the demand for paper cups.
In addition, strict government reforms regarding the usage of single-use plastic disposables are driving consumers to opt for paper cups instead.
The European region is a significant shareholder in the market and is foreseen to witness noteworthy growth over the forecast period. The growing number of restaurants and coffee shops in countries, such as France, Germany, the U.K., and Italy, is expected to drive the demand for disposable cups in the coming years. The trend of “Food Away From Home” is rising owing to more people opting for convenient meal solutions while working away from home. Most quick-service vendors use convenient packaging formats, such as disposable plates, cups, and bowls, which are expected to drive the market over the forecast period.
Disposable Cups Market Report Highlights
• By product, paper disposable cups are projected to expand at the fastest CAGR over the forecast period owing to their ideal nature to serve hot and cold beverages to on-the-go consumers
• The commercial end-use segment dominated the market with a share of over 76.0% in 2020. This is attributed to the growing penetration of various quick-service restaurants and coffee chains
• Asia Pacific held the largest share of over 32.0% in 2020 and is foreseen to remain at the forefront over the forecast period owing to the opening of various international food chain restaurants and outlets and growing urban population
Read the full report: https://www.reportlinker.com/p06046006/?utm_source=GNW
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