Disposable Cups Market is projected to reach a valuation of US$ 21.1 billion by 2033, CAGR of 6.2% from 2023 to 2033 | Future Market Insights, Inc.
Future Market Insights Global and Consulting Pvt. Ltd.
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Future Market Insights Global and Consulting Pvt. Ltd.
Australia is set to experience exciting growth in its renowned disposable cup market in the next decade - with a projected 3.0% compound annual growth rate (CAGR) from 2023 through to 2033! Home of one of the most distinct and celebrated coffee cultures on earth, Australia's industry boom promises an inviting opportunity for plenty more caffeine-filled adventures ahead.
NEWARK, Del, Feb. 02, 2023 (GLOBE NEWSWIRE) -- The disposable cups market is anticipated to be worth US$ 11.6 billion worldwide. From 2023 to 2033, it is anticipated to surge at a CAGR of 6.2%. By 2033, the market is anticipated to be worth US$ 21.1 billion. In 2023, it is predicted that the top 3 nations would account for 40% to 45% of the market.
Owing to the quick pace of today's lifestyle and constant need for mobility, disposable cups are useful. Customers prefer eating at restaurants, and the rate of beverages consumed away from home is steadily increasing.
They anticipate that caterers would support and provide speedy food delivery. Due to their busy lifestyles and demanding work schedules, they are finding online meal ordering to be highly convenient.
Packaging of disposable cups is thought to be tamper-proof by food service providers. They are capable of protecting the food from contamination while it is being transported. Disposable plastic cups are sturdy and affordable. Insulation in these cups can increase the delivery time for both hot and cold beverages.
For speedy delivery without worrying about spilling or leakage, disposable cups with lids and straw slots are convenient. Disposable cups are very convenient to transport and serve beverages. They don't take up a lot of storage space.
As they are unbreakable, time-saving, and easy to clean, paper or disposable plastic cups are preferred by food service operators over glass ones. Numerous fast food restaurants, cafeterias, and food malls use disposable cups as a dependable, safe, and simple packaging solution. These can be delivered to clients quickly, which would expand the disposable cups market.
Key Takeaways from Disposable Cups Market
Less than 250 ml disposable cups by capacity is projected to hold a substantial disposable cups market share of 52% by 2033.
By material, the paper disposable cups segment is anticipated to accelerate at a CAGR of 6.0% between 2023 from 2033.
The beverages segment by application is expected to create an absolute dollar opportunity of US$ 7.0 million during the forecast period.
Europe followed by South Asia is estimated to generate high demand for disposable cups, accounting for around 44% of share by 2033.
Australia disposable cups market is projected to exhibit a CAGR of 3.0% from 2023 to 2033.
“Increasing demand for on-the-go snacking is projected to propel sales of tea, coffee, lemonade, and soft drinks worldwide. It is projected to drive disposable cups sales in the next ten years. Key companies are likely to develop new cups with innovative materials to attract a large consumer base,” says a lead Future Market Insights analyst.
Demand for Sustainable Packaging to Create New Growth Opportunities for Disposable Cups Manufacturers
Innovation is important because it aids businesses in market penetration, the creation of better prospects, and customer engagement. The disposable cup market offers significant potential for innovation to provide high-quality food service goods. Paper cups can help to get around few of the problems with plastic cups. It might also aid in expansion for throwaway cups.
For instance,
In July 2021, following single-use plastic ban in the European Union, Vegware updated their disposable cups’ design to comply with the single-use plastics directive.
In June 2021, Novolex launched a new manufacturing line to produce compostable cups from plant-based plastic (polylactic acid) which appears, behaves, and performs just like a traditional plastic cup.
Plastic Ban in Significant Regions is Expected to Deter Disposable Cup Sales
Single-use plastic damages wildlife, flora, and fauna. It also pollutes the environment and uses up vital natural resources in its production. Due to the massive amount of plastic waste in landfills and the ocean, several nations have outlawed single-use plastics.
Around 15 million metric tonnes of plastic debris are dumped into the ocean annually, according to Oceana Inc. Every minute, around two trucks worth of plastic trash are produced and dumped into the ocean. More than any other nation, the USA produces a substantial amount of plastic waste. Devastating effects may result from the rapid increase in terms of plastic manufacturing.
Expanded polystyrene products are no longer available and are even prohibited in Europe. Purpose of this new rule named Single-Use-Plastics (SUP), is to lessen negative effects that plastic has on both human health and the aquatic environment.
The order was incorporated into national law and became effective on July 3, 2021. Any nation that violates these duties will pay a price. Numerous countries are imposing restrictions on single-use plastics, which is impeding expansion of the disposable cup business.
Competition Landscape: Disposable Cups Market Key players operating in the global disposable cups market are Pactiv LLC, Berry Global Group, Inc., Dart Container Corporation, Huhtamaki Oyj, Detpak (Detmold Group), Georgia-Pacific LLC, Greiner Packaging International GmbH, and Genpak, LLC.
Also, few of the other noticeable players in the market are Fuling Plastic USA, Inc., Churchill Container, ConverPack Inc., FrugalPac Limited, Go-Pak Group, Grupo Phoenix Capital Limited, CEE Schisler Packaging Solutions, F Bender Limited, SEDA International Packaging Group S.p.A., Duni Group Global, and Stanpac Inc. and others. Tier 1 players in the market hold 15 to 20% in the global disposable cups market.
About the Packaging Division at Future Market Insights
The packaging division at Future Market Insights provides an in-depth historical analysis and projections for the next ten years and covers the competition landscape through a unique dashboard view. Ranging from packaging materials, packaging machinery to packaging designs & formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 1,000+ reports, the team has analyzed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.
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About Future Market Insights, Inc.
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