Growing popularity of fine dining has been playing a significant role in the growth and development of disposable cutlery market. According to a recently published report by Future Market Insights (FMI) disposable cutlery market is expected to grow at a moderate phase of approximately 4.0% in 2019 on a Y-O-Y basis. In addition, FMI also projects that disposable cutlery market is expected to surpass market valuation of nearly US$ 1Billion in 2019. There are also higher possibilities of disposable cutlery being subject to new charges and taxes in the long run as part of the emerging environmental drive.
Plastic Disposable Cutlery Products to Witness Sluggish Demand
Measures have been taken out for eliminating plastic waste across royal estates and as a point of high evidence, latest news indicates that Buckingham Palace is banning usage of plastics as the royal estate is planning to join increasing number of organizations for phasing out the plastic disposable cutlery. Notable initiatives have been taken up by Hong Kong Convention and Exhibition Centre by encouraging visitors as well as event attendees for bringing their own water bottles, thereby rolling out sustainability measures for eliminating usage of plastic disposable cutlery. Eco-friendly materials have been trending as usage for developing spoons in the disposable cutlery industry that holds adequate resistance properties.
Airline and Railway Catering Application to Hold Massive Share
As a major drive to the plastic-ban change in India, Indian Railway Catering and Tourism Corporation (IRCTC) has embarked on an important project for replacing its plastic disposable cutlery with eco-friendly and wood-based disposable cutlery in all the premium trains. In order to offer trendy and sophisticated services, railways and airlines are taking immense efforts in driving the usage of disposable cutlery by innovative means. With growing demand for disposable spoon and fork in the international and domestic flights from economy cabins, need for disposable cutlery increases. Long-haul flights are expected to contribute significantly towards the increasing sales of disposable cutlery from the airline sector. FMI projects that airline and railway catering is likely to display maximum market value share of nearly US$ 255.5Million in 2019 based on end-use application.
GCC Nations, India to Contribute Substantial Revenue Share
Supermarkets and eateries are taking up immense efforts in reducing usage of plastic disposable cutlery in UAE as plastic disposable cutlery quantity continues to increase across the globe. With a culture that depends heavily on the takeaway food as well as deliveries, concerns regarding the transportation of plastic disposable cutlery daily, continues to rise in UAE. However, major shift has been witnessed amongst various hotels and restaurants in the nation that recently ditched plastic disposable cutlery and are planning to adopt wood based disposable cutlery.
FMI report on disposable cutlery market indicates that on the basis of value, India holds the highest market value of nearly US$ 228.8Million in 2019. Though immediate pricing on the eco-friendly disposable cutlery is high compared to plastic disposable cutlery, growing awareness regarding the health and environmental benefits is encouraging the Indian population to eliminate the usage of plastic disposable cutlery products. With Maharashtra’s ban on plastic usage, wood based and other emerging types of disposable cutlery have turned out to be the default choice.
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