Product ID: SQSG15Q2002
Report ID: SQSG15Q2002 | Region: Global | Published Date: December, 2022 | Pages: 165 | Tables: 63 | Figures: 75
Global Disposable Cups Market size was valued at USD 10.29 billion in 2021 and is poised to grow from USD 10.61 billion in 2022 to USD 13.96 billion by 2030, growing at a CAGR of 3.1% in the forecast period (2023-2030).
The use of disposable cups lessens exposure to illnesses and viruses that are spread through contaminated food. The industrial canteen, food canteens, IT companies, coffee or tea shops, educational institutions, restaurants, fast food chains, supermarkets, event planners, and health clubs are the biggest consumers of these disposable cups. There are many various types, shapes, and sizes of disposable cups. They work well for serving hot or cold beverages since they are moisture-resistant.
Disposable cups are practical and affordable. Some are even insulated to maintain the temperature of hot drinks and cold drinks for long periods of time. Due to growing health and hygiene concerns as well as the need to prevent the transmission of infection, single-use disposable cups are currently selling more. The tamper-proof packaging of the disposable cup guards against food contamination while it is being transported. Biodegradable cups are ones that can decompose spontaneously and be absorbed back into the environment by microorganisms like bacteria or fungi.
People are increasingly adopting the disposable cup habit. The demand for throwaway cups has grown as people all around the world show a growing preference for ready-to-drink beverages. For consumers who are worried about damaging or carrying around glasses, mugs, and steins, disposable cups are a great substitute. Demand is anticipated to rise in the upcoming years due to disposable cups' rising popularity at celebrations and social gatherings. There are numerous uses for single-serving cups around the house. They are perfect for serving adult beverages like espresso and cappuccino as well as beverage samples and portion-controlling out child servings.
Numerous environmentally friendly designs of disposable plastic cups made of PLA plant starch and corn plastic are offered. Cups that are entirely compostable, sustainable, and disposable are produced with less energy than conventional paper cups and are constructed from renewable resources. Other factors anticipated to propel market growth include quick urbanization, rising per capita income, expanding purchasing power of the populace, and shifting dietary preferences of the populace. The global disposable cups market is also predicted to increase as a result of rising consumer awareness of hygienic products.
US Disposable Cups Market is poised to grow at a sustainable CAGR for the next forecast year.
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The global disposable cups market has been segmented based on product, end-user, and region. Based on the product, the Disposable Cups Market is segmented into paper, plastic, and foam. Based on the end-user, the Disposable Cups Market is segmented into commercial, institutional, and household. Based on region, the disposable cups market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Disposable Cups Market Analysis by Product
Paper disposable cups led the space and are anticipated to experience the fastest CAGR during the projected period with a market share of over 57.0% in 2021. This is explained by their optimal ability to provide consumers who are on the go with hot and cold beverages. Paper cups are often regarded as being recyclable, environmentally benign, and composed primarily of natural materials. They are thus an excellent approach to a lower carbon footprint. The majority of paper cups are affordable and microwave-safe. Paper cups are projected to have a major increase in demand over the next few years as a result of the growing intolerance toward single-use plastic cups and various legislative measures to outlaw them.
From 2022 to 2028, plastic disposable cups are expected to grow at a CAGR of 5.8%. Their low price and robust design are credited with the segment's expansion. Similar to paper, throwaway plastic cups are available in a range of eco-friendly, green solutions. For instance, PLA maize plastic disposable cups enable complete product exposure for improved marketability and are compostable. Heavy-duty, flexible disposable cups with a medium wall structure that flexes but resists cracking are constructed of materials like PET. In the upcoming years, these elements are anticipated to accelerate the segment's expansion.
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Asia Pacific dominated the global market and is predicted to grow at the highest rate throughout the projected period with a market share of over 32.0% in 2021 . This is due to a number of factors, including an increase in the urban population, shifting food consumption patterns, rising disposable income, and the opening of several foreign food chain restaurants and shops. In developing nations like India, the western fast-food chain has shown a promising growth rate that is anticipated to continue in the years to come. According to a Financial Express story from February 2020, the food-service sector in India is predicted to grow at a CAGR of 9%. In the upcoming years, it is anticipated that these factors will significantly increase the demand for disposable cups.
Over the course of the forecast period, the North American region is anticipated to grow at a CAGR of 6.5%. Billion people are being drawn to the nation's expanding cafe and fast-food franchises to drink coffee and other beverages on the move. According to SinglePlatform's blog, the typical coffee drinker has three cups daily. There are 150 million daily coffee drinkers in the United States alone. After the lockup restriction was loosened, a number of eateries and coffee shops opened up, and as they grow in the upcoming years, there will certainly be a substantial need for throwaway cups.
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Disposable Cups Market Driver
Disposable Cups Market Restraint
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The disposable cups market is characterized by the presence of numerous well-known competitors. These competitors stand out for having a wide range of products and an extensive distribution network. They have a substantial market share and cater to clients all around the world. Additionally, the market includes small-to-midsized firms, who mostly cater to local clients and have a narrow variety of items.
Many industry participants are implementing tactics like creative and environmentally friendly product launches in order to solidify their positions and increase revenue growth. For instance, Huhtamäki Oyj added to its current Bioware® biodegradable portfolio in July 2019 with the launch of a new compostable Bioware® Impresso double-walled hot cup. The redesigned cup makes use of the distinctive Impresso bubble emboss, which improves insulation and gives the holder a tactile feel. The company's hot cup features a plant lining that is certified compostable and is composed of a sustainable 100% PEFC-certified paperboard.
Top Players in the Disposable Cups Market
Disposable Cups Market Recent Development
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, by product, the paper segment dominated the global disposable cups market in 2021 and is anticipated to maintain its dominance throughout the forecast period. In 2021, Asia Pacific dominated the global disposable cups market owing to the region's growing urban population, shifting food consumption patterns, rising disposable income, and the opening of several foreign food chain restaurants and shops.
|Market size value in 2021||USD 10.29 billion|
|Market size value in 2030||USD 10.61 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Disposable Cups Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Disposable Cups Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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