Disposable Cups Market demand to increase at 5.7% CAGR between 2021 and 2031
The market for disposable cups is anticipated to increase rapidly, with an estimated US$10.6 billion in global sales by 2021. The demand for disposable cups market is expected to rise between 2021 and 2031 at a CAGR of 5.7%, according to FMI.
Despite COVID-19’s stagnant sales, demand for disposable cups will increase starting in 2021, albeit gradually. By the end of 2021, it is anticipated that disposable cup consumption will reach 462.2 billion units worldwide. In terms of volume, the market is expected to grow at a 5.3% CAGR during the forecast period.
Global sales of disposable cups will total ~600 billion units in 2019, representing a 3.3 percent increase from 2018, according to the latest research from Future Market Insights. The disposable cups market is projected to grow at ~4% CAGR during the period, 2019-2029, driven by affordability and easy availability along with increasing consumption of non-alcoholic beverages which led to proliferation of café retail chains and international coffee shops, especially in developing countries.
Due to growing prominence of the ‘throw away culture, disposable cups are continuously making their way into landfills and marine environment, subsequently raising potential concerns among environmental groups and consumers adopting ‘zero-waste’ culture. Manufacturers who are keeping the innovation quotient high by adopting sustainable solutions are likely to be rewarded in the long run.
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Despite stagnant sales amid COVID-19, disposable cups demand will surge from 2021 onwards, albeit gradually. Global consumption of disposable cups is forecast to reach 462.2 Bn Units by the end of 2021. The market has been projected to expand at 5.3% CAGR over the forecast period in terms of volume.
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.
“With the rising preference for dining out, the popularity of on-the-go beverages and growing awareness about eco-friendly packaging solutions will fuel the demand for disposable cups. Also the expansion of foodservice chains, hypermarkets, and quick-service restaurants will boost sales opportunities in the disposable cups market,” says FMI analyst.
Disposable Cups Market by Category –
By Material Type:
Less than 250 ml
250 to 750 ml
Above 750 ml
By End User:
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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.
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.
Companies operating in disposable cups market are aiming at strategic partnerships with other manufacturers to expand their product manufacturing capabilities, and focusing on innovation and sustainability.
- In April 2021, Greiner Packaging International GmbH launched new sustainable r-PET cups for beverages, accommodating economic, environmental, and social considerations.
- In November 2020, Berry Global Inc. launched Bantam™ Drink Cups, an innovative and made from recyclable polypropylene.
- In July 2019, Huhtamaki Oyj partnered with First Mile a leading recycling company. The First Mile Company will collect disposable cups from customers from various coffee chains, restaurants, and others.
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(1) A complete section of the Global Disposable Cups market report is dedicated for market dynamics, which include influence factors, market drivers, challenges, opportunities, and trends.
(2) Another broad section of the research study is reserved for regional analysis of the Global Disposable Cups market where important regions and countries are assessed for their growth potential, consumption, market share, and other vital factors indicating their market growth.
(3) Players can use the competitive analysis provided in the report to build new strategies or fine-tune their existing ones to rise above market challenges and increase their share of the Global Disposable Cups market.
(4) The report also discusses competitive situation and trends and sheds light on company expansions and merger and acquisition taking place in the Global Disposable Cups market. Moreover, it brings to light the market concentration rate and market shares of top three and five players.
(5) Readers are provided with findings and conclusion of the research study provided in the Global Disposable Cups Market report.