The global disposable cups market size is anticipated to hit around US$ 26,897.2 mn by 2026 and growing at a CAGR of 8.3% during the forecast period 2019 to 2026.
The strict government rules with regards to the non-biodegradable plastic are projected to be the key factor driving the demand for disposable cups during the forecast period.
Disposable cups are utilized to serve cold and hot beverages in consort with food services. They are fabricated by thermoforming methods with sheet thickness spanning from 0.35 mm to 2 mm. The global disposable cups market is anticipated to exhibit a substantial rate of growth by expanding at a noteworthy CAGR during the period of forecast analysis. Disposable cups have an extensive application in the hotels, drinking water, ice-cream industry, & other dairy products and function as a substitute for the traditional ceramic or glass-ware cups. In addition, the rising inclination to on-the-go food & beverage services among the people across the world as a result of the swift urbanization together with the increase in disposable income is estimated to fuel the growth of the global disposable cups market in the years to come. Furthermore, the disposable cups are the ideal key for the food & beverage industry thanks to the enhanced aesthetic look in comparison to traditional cups, the escalated self-life of the item contained inside, lightweight, and offers ease of shipping and impermeability. Apart from this, the rising count of the retail outlets in conjunction with the quick service restaurants (QSRs) across the globe offers several avenues for the manufacturers of the disposable cups to access the untapped market, thus boosting the market growth during the upcoming period.
The global disposable cups market is anticipated to witness a considerable growth owing to the several opportunities produced by the “away-from-home” feasting of beverages. This can be attributed to the fast-paced lifestyle of people, which has influenced the consumption patterns of food and beverage to an extent. To cite, a study had marked that an American, on average, experiences almost 22 away-from-home circumstances where he/she purchase drinks/food. This, in turn, generates productive prospects for the expansion of the global disposable cups market. In the years to years, the emphasis of the companies on the millennial population is projected to be intensified. The rising millennial population is anticipated to be another major factor to fuel the expansion of the global disposable cups market during the forecast period, as millennials have been recognized to go through almost twofold the count of away-from-home circumstances in comparison to grown-ups.
On the basis of material type, the global disposable cups market is bifurcated into polystyrene foam cups and plastic cups. Based on end-user, the global market is divided into hotels, restaurants, offices, bars, railways & airlines, and others. On the basis of design, the global disposable cups market is classified into printed disposable cups and non-printed disposable cups. Based on the application, the global market is categorized into cold drinks, ice-creams, hot beverages, and others. Based on geography, the global Disposable Cups market is diversified into Europe, North America, Latin America, Asia Pacific, and Middle East & Africa.
Regionally, in 2018, the highest share in the global disposable cups market was held by North America on account of the growing count of coffee consumers in this region. Further, in North America, the maximum share in the market was captured by theUS. The increasing health consciousness and the altering lifestyle are factors driving the market expansion in this region. In addition, the rising digit of food chains and cafes in the country is luring billions of consumers to devour coffee as well as other beverages on the go. As per a survey, only in the US, there are over 32000 coffee shops that produce waste of around 25 billion coffee cups. However, Asia Pacific region is projected to exhibit the highest growth in the disposable cups market during the forecast period. The key factors contributing to the growth of the Asia Pacific region are the rising urban population, rising disposable income, altering food-eating habits, and the launch of a number of international food chain outlets and restaurants. Moreover, China is the key contributor to the expansion of the market for disposable cups in the Asia Pacific region as a result of the existence of top manufacturing companies of disposable cups. In addition, Europe region is also anticipated to register a modest graph of growth during the forecast period.
A few of the prominent players actively participating in the global disposable cups market consist of Berry Plastics Corporation, Benders Paper Cups, Dart Container, Cosmoplast Industries Co, Greiner Packaging GmbH, FrugalPac Limited, Kap Cones, James Cropper, Solo Cup Company, and Lollicup USA, among others. The global disposable cups market is extremely fragmented and has moderate-to-high entry hurdles because of the rapid product advances and the existence of numerous brands. Nonetheless, these factors are projected to drive competition among the top market manufacturers. The rising demand for environment-friendly products in addition to low cost and attractiveness are anticipated to intensify the competition among several market players.
Market By Material Type
Market By End-User
Market By Design
Market By Application
Market By Geography
Disposable cups are utilized to serve cold and hot beverages in consort with food services.
The several opportunities produced by the “away-from-home” feasting of beverages driving the disposable cups market growth.
According to Acumen Research and Consulting, the global disposable cups market is anticipated to reach a value of US$ 26897.2 Million by 2026.
The global disposable cups market is estimated to exhibit a CAGR of 8.3% during the forecast period 2019 to 2026.
In 2018, the highest share in the global disposable cups market was held by North America.
The key factors contributing to the growth of the Asia Pacific region are the rising urban population, rising disposable income, altering food-eating habits, and the launch of a number of international food chain outlets and restaurants.
Berry Plastics Corporation, Benders Paper Cups, Dart Container, and Cosmoplast Industries Co are the top key players of disposable cups market.