Disposable Cups Market Size, Share, Growth, Trends and Industry Analysis Report, 2019 to 2025
by Susan Hill Business ConsultantThe
global disposable cups market size is expected to reach
USD 20.20 billion by 2025, at a CAGR of 6.0% over the forecast period,
according to a new report published by Grand View Research, Inc. Several
factors such as, increasing demand in the urban and semi urban market for Quick
Service Restaurants (QSR), rising disposable income, changing food trends that
favor convenience, and unavailability of water to clean up utensils, are
driving the growth.
Disposable
cups are extensively used in various places to serve both hot and cold beverages
and drinking water. Use of these products eliminates the need for washing,
which is one of the major reasons driving their popularity. Hectic lifestyle
and extended working hours has also pioneered the demand for disposable
utensils to save time. Moreover, the changing trend along with the availability
of the new improved products for takeaway services is also rapidly influencing
the market growth.
More than
500 billion disposable cups are used across the world every year. Low cost and
easy availability have increased the consumption. Disposable products come in
handy when consuming hot or cold beverages on the go without having to worry
about cleaning them up. In various developing countries, it was common practice
to drink water using shared glasses at the public water sources such as
schools, government offices, and other public spaces. Eventually people stopped
this practice due to rising public health concerns and started using disposable
cups.
North
America was estimated to be the largest market for disposable cups in 2018
owing to increasing consumption of coffee in the region. In 2018, U.S held the
largest market share of 90.0% in North America. The changing lifestyle along
with rising health consciousness are anticipated to propel the regional market.
Growing number of cafes and food chains is attracting billions of customers to
consume coffee and other beverages on the go. For instance, more than 32000
coffee shops generate trash of about 25 billion coffee cups in U.S. alone.
Further key
findings from the report suggest:
- In terms of
revenue, paper segment is projected to ascend at a CAGR of 6.6% over the
forecast period
- Restaurants and
food outlets in this market has overall revenue share of over 60.0% in
2018
- US, France,
Germany, India, Brazil, and UAE are the major countries with largest
market for disposable cups in their respective regions
- Major players operating in the disposable cups market are Benders Paper Cups, Solo Cup Company, Greiner Packaging GmBh, Dart Container, among others
Access full
research report on global disposable cups market:
www.grandviewresearch.com/industry-analysis/disposable-cups-market
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Created on Oct 28th 2019 06:10. Viewed 385 times.