Disposable Cups Market expected to grow at a CAGR of 5.9% during 2016 ? 2026
Posted by Pradnya Kulkarni on April 24th, 2017
Recyclability, lightweight, and other physical attributes of disposable cups will continue to make them the foremost choice of packaging food products and beverages. Disposable cups are designed to hold both, hot and cold, substances, which further propels their applicability in global food & beverage industry. However, a majority of disposable cups are made from plastic materials to reduce chances of food contamination. This raises concerns regarding impact of such plastic cups on the environment, whether in terms of rising production or from dumping waste plastic disposable cups.
The breakthrough for disposable cup manufacturers in tackling such stringent hurdles is the advent of biodegradable materials in production of disposable cups. Disposable cups made from bioplastics or other such materials is predicted to garner surplus demand in the years to come. Such favourable consumer preferences, coupled with rising consumption of fast foods and on-the-go beverages in the world, will also continue consolidating the growth of global disposable cups market. Future Market Insights’ latest report on global market for disposable cups projects that by the end of 2026, more than US$ 21.2 Bn worth of disposable cups will be sold globally.
The report estimates the market’s current value at a little less than US$ 12 Bn, and anticipates it to register a value CAGR of 5.9% for the forecast period, 2016-2026. According to the report, more than 500 Bn units of disposable cups were sold across the globe in 2016. The global sales of disposable cups is expected to surge steadily at 5.1% CAGR, procuring revenues from sales of over 850 Bn units towards the end of 2026.
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Key highlights of the report, titled “Disposable Cups Market: Global Industry Analysis and Opportunity Assessment, 2016-2026,” include:
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The report further reveals that North America is likely to be procure a little over one-fourth share of global disposable cup revenues through 2026. During this period, the Asia-Pacific region will dominate the market by closing in on 30% revenue share. The region’s dominance is being continued by active participation of China-based disposable cup manufacturers such as Hong Er Plastic Manufacture Limited, Zhejiang Hongsu Plastic Co., Ltd., UNHONG Corp., Zhejiang KaiJia Plastics Co., Ltd., and Changsha Yuhao Imports & Exports Co. Ltd. The report has also profiled leading manufacturers of disposable cups in the world, which include, Berry Plastics Corporation, Pactiv LLC, Huhtamaki OYJ, Solo Cup Company, Greiner Packaging GmbH, Genpak LLC, Dart Container Corporation, ConverPack, Eco-Products Inc., Cosmoplast Ind. Co. (LLC) and Churchill Container.
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About the AuthorPradnya Kulkarni
Joined: December 22nd, 2016
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