Global Disposable Cups Market is expected to showcase a Significant CAGR of 10.1% during 2016-2023 – Research Nester
Aug 2, 2018
Global disposable cups market is expected to flourish at a compound annual growth rate (CAGR) of 6.1% over the forecast period 2017-2024.
New York, United States - August 2, 2018 /MarketersMedia/ —
“Disposable Cups Market: Global Demand Analysis & Opportunity Outlook 2024”
The global disposable cups market is segmented into material type such as plastic cups and polystyrene foam cups. Among these segments as plastic cups segment is expected to occupy the top position in disposable cups market during the forecast period. Further, Low cost of disposable cups and easy availability have made disposable cups more popular among food and beverages industries. Features of disposable cups such as recyclability, lightweight and other physical attributes have made them leading choice for packaging and serving food and beverages.
Global Disposable Cups Market is expected to flourish at a CAGR of 6.1% over the forecast period. Moreover, Global disposable cups market stood at a valuation of near about USD 12.1 Billion in 2016.Further, global disposable cups market is projected to reach at a valuation about USD 20.5 Billion by the end of 2024 owing to the factors such as population growth and emergence of new food & beverages industries.
In the regional platform, Asia Pacific region is dominating the global disposable cups market and has captured highest share among all regions. Disposable cup in Asia Pacific stood at a significant valuation in 2015. Further, Asia Pacific region is anticipated to flourish at fastest CAGR of 6.5% over the forecast period. Population growth and increasing disposable income are some major factors which are expected to make Asia Pacific fastest growing region for the disposable cups market. North America region stood second in terms of share and is expected to witness robust growth with the market share of 26% in the forecast period.
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Rising Consumption of Food and Beverages
Rising preference of outside dining, increasing disposable income, growing middle class, are some major drivers to the growth of global disposable cups market. Further, emergence of new restaurants and food courts is envisioned to bolster the global disposable cup market. Disposable cups made of bio-plastic materials and other such material products are also anticipated to propel the demand for disposable cups over the forecast period.
Wide Scale Usage of Disposable Cup Market
Global disposable cups market is driven by various features of disposable cups such as recyclability, light weight, low cost and other physical attributes. Moreover, eating on the go trend and rising health consciousness have led to the food courts and restaurants to serve their drinks in disposable cups. In contrast, some kind of disposable cups are made of plastic and causing harm to the environment from disposing waste plastic disposable cups and increasing production of plastic disposable cups. Further, such factors are expected to hinder the growth of global disposable cups market during the forecast period.
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The report titled “Disposable Cups Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global disposable cup market in terms of market segmentation by product, by source and by region. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global disposable cups market which includes company profiling of Huhtamaki OYJ, Solo Cup Company, Greiner Packaging GmBh, Genpak LLC, Dart Container Corporation, ConverPack, Eco-products Inc., Cosmoplast industries Co. (LLC), Churchill Container, Geoclima. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global disposable cups market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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