Disposable Cups Market is anticipated to grow at a CAGR of 6.2% from 2020 to 2030.
Market Industry Reports (MIR) has published a new report titled “Disposable Cups Market- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020–2030.” According to the report, the global disposable cups market accounted for over US$14 billion in 2019. The market is anticipated to grow at a CAGR of 6.2% from 2020 to 2030.
The growing food industry, rapid urbanization, and changing life styles have propelled the adoption of disposable cups, thereby influencing growth of the disposable cups market globally. The low cost and easy availability of the disposable cups have further contributed to market growth.
Growing environmental concerns related to the growing disposable waste is encouraging several manufacturers to promote the recycling of these cups. Materials that are disposed of can be collected and further sent for recycling and then be reused. For instance, in January 2020, LUIGI LAVAZZA SPA, an Italian manufacturer of coffee products launched biodegradable and recyclable cups for vending machines. These cups are manufactured using paper sourced from sustainably managed forests.
The increasing number of food canteens, industrial canteens, restaurants, coffee &tea shop, fast food outlets, supermarkets, health clubs, and offices has significantly contributed to growth of the disposable cups market. Furthermore, the increasing number of quick-service restaurants globally has led to a strong demand for disposable food packaging products including disposable cups in the market.
Browse key industry insights spread across 160 pages with market data tables & figures & charts from the report, Disposable Cups Market By Material (Polypropylene (PP), Polystyrene (PS), Polyethylene Terephthalate (PET), and Polylactic Acid (PLA)), Product Type (Printable and Non-Printable), -Analysis & Forecast 2019-2030. in detail along with the table of contents:https://www.marketindustryreports.com/disposable-cups-market/307
However, disposable cups produce a lot of waste. Hence several organizations are making conscious efforts to decrease waste generation from disposable products, thereby limiting market growth to a certain extent. For instance, a new café culture is becoming popular in San Francisco wherein a large number of coffee houses are replacing paper cups with glass jars and even rental mugs.
North America holds the largest market share of the global disposable cup market owing to the growing number of coffee consumers in the region. Asia Pacific is expected to grow at the highest CAGR during the forecast period due to growing food delivery industry trends along with flourishing commercial foodservice markets.
Some of the prominent players in the disposable cups market include Greiner Packaging (Greiner AG), Dart Container Corporation, Berry Global Inc., F Bender Limited, Go-Pak Group, Cosmoplast, James Cropper plc, Huhtamaki Foodservice E-A-O, Frugalpac Limited, and KAP CONES, among others.
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