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Disposable Cups Market demand to increase at 5.7% CAGR between 2021 and 2031
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The disposable cups market is projected to grow at a 5.7% CAGR from 2021 to 2031, driven by increased demand for on-the-go beverages and hygienic packaging solutions.
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.
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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.
Key Takeaways from Disposable Cups Market
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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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The article discusses the growth and demand of the disposable cups market, projecting a 5.7% CAGR from 2021 to 2031.
COVID-19 increased the demand for disposable cups as a hygienic packaging solution, especially in healthcare and foodservice sectors.
Key growth drivers include consumer preference for on-the-go beverages and the exponential growth of online food ordering.
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