VALLEY COTTAGE, New York, April 11, 2017 /PRNewswire/ --
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.
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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.
Key highlights of the report, titled "Disposable Cups Market: Global Industry Analysis and Opportunity Assessment, 2016-2026," include:
- Based on moulding technologies, demand for thermoformed moulding is projected to gain traction, procuring over 70% share of global market revenues
- Paper will continue to be the most sought-after material for production of disposable cups, revenues from which are projected to soar at 6.3% CAGR
- By 2026-end, more than 280 Bn units of plastic disposable cups are projected to get sold across the globe; registering higher sales of disposable cups made from polyethylene terephthalate (PET), polypropylene (PP) and polyethylene (PE) materials.
- Throughout the forecast period, over 700 Bn units of printable disposable cups will sold globally, while non-printable disposable cups will register a relatively sluggish revenue growth
- Owing to their higher applicability in packaging beverages, disposable cups with 200 to 400 ml capacity will remain in great demand, accounting for nearly half of global market revenues towards the end of 2026
- Over two-third of revenues emanating from global sales of disposable cups will be accounted by dairy and beverage applications, with the latter procuring higher share
- On the same lines, the market is projected to witness higher contribution from food retail companies as end-users of disposable cups
Preview Analysis on Global Disposable Cups Market Segmentation By Moulding Technology - Thermoformed Moulding, Injection Moulding, By Material Type - Paper, Plastic (PE, PP, PET, PS, PLA), Foam; By Product Type - Printable, Non printable; By Application- Food (Spreads, Sauces & Dressings, Confectionary, Others), Dairy(Yogurt, Drinks), Beverages (Hot, Cold), Ice cream; By End Use - Foodservice (Restaurants, Commercials & Establishments), Food Retail (Hypermarkets, Supermarkets, Convenience Stores): http://www.futuremarketinsights.com/reports/disposable-cups-market
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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SOURCE Future Market Insights