29-Aug-2020 | Zion Market Research
As per analysts at Zion Market Research, the global disposable cups market is expected to grow at a CAGR of over 7.1% during the forecasted period 2020–2026. Disposable cups are widely utilized to serve hot & cold beverages and drinking water. The augmenting demand for QSR (Quick Service Restaurants) from urban & semi-urban markets and water scarcity to clean utensils is projected to propel the growth. The rising disposable incomes along with altering food habits that favor convenience are projected to further drive the demand. Over 500 billion disposable cups are utilized globally every year. The easy availability and low cost have augmented the consumption at such a large scale. The sense of convenience amongst customers is likely to drive the product demand. Drinking water from common glasses at public places—like hospitals, schools, and government offices in various emerging countries—was stopped owing to the augmenting concerns over public health, generating demand for disposable cups.
Some of the leading players in the global market are Benders Paper Cups; Greiner Packaging GmBh; Solo Cup Company; Dart Container; Cosmoplast Industries Company; James Cropper Plc; and Frugal Pac Limited.
Surging Demand Of Customized Cups In Private & Corporate Events To Boost The Global Market
The disposable cups aid in conserving water since they do not need any cleaning up subsequent to usage. This is one of the key reasons propelling their popularity. The busy lifestyle and long working hours also add to the demand for disposable utensils for saving time. The accessibility of novel and improved products for takeaway services is certainly influencing the market development. Simple availability of customized cups in attractive prints, colors, and messages is boosting the product demand in private and corporate events.
The global disposable cups market is bifurcated on the basis of material, end use, and regional analysis. Based on the material, the market is divided into plastic, paper, and foam. Based on the end use, the market is divided into restaurants & food outlets, corporate & residential parties, and others.
The Asia Pacific Region Will Witness Massive Growth In The Global Disposable Cups Market
Based on geographical analysis, the global disposable cups market is divided into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. The North America region was projected to be the key market in 2018 due to a surging number of coffee consumers across the region. In 2018, the U.S witnessed the largest market share of almost 90.2%. The changing way of life and increasing health awareness is expected to boost the market. The increasing number of food chains & cafes across the region is attracting billions of customers to devour coffee and other beverages. The Asia Pacific region is expected to witness the fastest development during the forecasted period. The altering food eating habits, augmenting urban population, increasing disposable earnings, and the launch of various international food chain outlets are some of the key aspects driving regional growth.
Browse the full “Disposable Cup Market - by Material Type (Hot Paper Cups, Cold Paper Cups, Plastic Cups, Polystyrene Foam Cups), by Application (Tea/Coffee Market, Food Service And Beverages Market, Household Purposes), by Size (Less Than 200 Ml, 200 Ml – 400 Ml, 400 Ml – 600 Ml, 600 Ml – 1000 Ml, Greater Than 1000 Ml), and by Region: Global Industry Perspective, Comprehensive Analysis and Forecast 2019 – 2026.” Report at https://www.zionmarketresearch.com/report/disposable-cup-market
The global disposable cups market is segmented as follows:
By end use:
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