Disposable Cups Market Anticipated To Post A Notable CAGR Of 6.1% Over The Forecast Period 2017-2024
Disposable Cups Market Growth, Analysis, Share, Size, Future Scope – 2024
The global disposable cups market is segmented into material type such as plastic cups and polystyrene foam cups. Among these segments, plastic cups segment grabbed the largest stake of the overall disposable cups market and is believed to mask a significant CAGR by the end of 2024.
Likely, factors such as lightweight, suitable for hot and cold beverages are expected to create a positive impact on the growth of disposable cups market. In addition to this, population in urban regions is more inclined towards fast foods and beverages which are also predicted to intensify the market of global disposable cups market by 2024.
Global disposable cups market is anticipated to post a notable CAGR of 6.1% over the forecast period i.e. 2017-2024. Moreover, the global disposable cups market is projected to account exponential sales of USD 20.5 Billion by the end of 2024. Additionally, the market is riding on the back of rising preference for ready to eat foods.
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The printed disposable cups segment is believed to be the fastest growing segment in overall disposable cups market by the end of 2024. In terms of regional platform, Asia-Pacific region accounted for the largest market of disposable cups market in 2016 and is expected to showcase an exceptional CAGR of 6.5% by 2024. Moreover, vast expansion of food and beverage industry on the back of growing population and positive GDP figures are predicted to foster the growth of disposable cups market. In addition to this, China is the major contributor in the market of disposable cups in this region.
Increasing Number of Quick Service Restaurant
Rise in the number of quick service restaurants across the globe coupled with high year-on-year growth, has led to a strong demand for disposable food packaging products such as disposable cups. Furthermore, rising preference of consumers for on-the-go foods is also augmenting the demand for disposable cups. These factors are envisioned to foster the growth of disposable cups market throughout the globe.
Changing lifestyle of Consumers
Rise in income level coupled with changing eating habits of the population, especially in the developing countries such as India, China, South Africa and Brazil is the key factor fueling the demand for disposable cups. Moreover, rising disposable income and expansion of urban population across the globe is expected to propel the demand for quick service restaurants and positively impact the growth of disposable cups market.
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Although, rising environmental concern regarding the usage of plastic disposable cups are anticipated to hamper the growth of disposable cups market all over the globe.
The report titled “Disposable Cups Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global disposable cups market in terms of market segmentation by material type, by design outlook, by end user, by application 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 Pactiv LLC, Huhtamaki OYJ, Solo Cup Company, Greiner Packaging GmBh, Genpak LLC, Dart Container Corporation, ConverPack, Eco-products Inc., Cosmoplast industries Co. (LLC), Churchill Container, and 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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