Today’s lifestyle has become expeditious and consumers are always on the go. As a cost-effective and convenient options disposable cups come handy as they take a sip into their favorite beverages while running for daily errands.
Future Market Insights (FMI) sees this as an attractive prospect for the sales of disposable cups. Consumer preference for eating out had the demand for on-the-go or take-away beverages exploding. Driven by this, the overall disposable cups sales are expected to total US$ 10.6 Bn in 2021.
Exponential growth of online food ordering also will create opportunities for sales of disposable cups. Foodservice providers prefer disposable cup because they are tamper-proof and keep beverages safe from contamination during transportation. Plastic disposable takeaway cups are economical, solid, and insulation can extend both the hot and cold liquids delivery time.
Additionally, disposable cups with lids and straw slots are easier for quick delivery without the fear of leakage and pouring. Disposable cups do not require much storage space and are extremely easy to carry during transportation and serving.
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Food service providers choose paper or disposable plastic cups over glass because they are unbreakable, time-saving, and easy to clean. Therefore, many fast food joints, cafeterias, and food malls opt for disposable cups as a reliable, safe, and convenient packaging solution to offer quickest delivery to the customers.
Key Takeaways from Disposable Cups Market
- The less than 250 ml disposable cups are smaller in size and are easily disposable, biodegradable, and recyclable. These cups will hold a market share of 51.1% by 2031.
- Paper is the most preferred material type and will account for 48.6% of market share by 2031.
- The beverages segment of disposable cups is projected to be the fastest-growing application segment, accounting for a share of 71.7% during the forecast period due to the rising demand for ready-to-drink beverages.
- Among end users, the food retail sector will account for a share of 60.7% in the market by 2031.
- Across the globe, Asia Pacific has emerged as the fast-growing market. It is estimated to showcase a CAGR of over 6-7% through the forecast period.
Impact of COVID-19 on Disposable Cups Market
The disposable cups are the safest, secure, and hygienic packaging favoured during the pandemic. The COVID-19 outbreak has affected people drastically. To prevent and control the virus spread hospitals, quarantine centres, and shelter homes have utilized one-time use disposable cups for serving food and beverages to the patients and caretakers.
Disposable cups are quickly discarded, recycled; hence the chances of virus spread can be avoided. Furthermore, disposable cups are also used by foodservice providers as the most economical, easy to carry, and dispose of option, which also caters to concerns pertaining to the health and wellness among consumers.
Disposable Cups Market Landscape
Pactiv LLC., Georgia-Pacific LLC, Huhtamäki Oyj, Dart Container Corporation, Berry Global Group, Inc., and among others are the prominent players in the global disposable cups market. The Tier 1 players in the market hold 15-20% in the global disposable cups market.
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