Disposable Cups Market Set to Exceed $23.37B by 2030 Due to Rising Demand for Convenient Beverage Consumption.

SNS Insider's report: Disposable cups' importance surges with market expansion. Driven by quick-service restaurants, events, and convenience trends.

AUSTIN, TEXAS, USA, April 26, 2024 /EINPresswire.com/ -- The Disposable Cups Market valued at USD 13.60 Billion in 2022, is poised to reach USD 23.37 Billion by 2030, reflecting a robust compound annual growth rate of 7% from 2023 to 2030, according to SNS Insider's comprehensive report.

Market Report Scope:
The market scope encompasses a surge in demand, notably from quick-service restaurants and social events. Factors such as rising urbanization, a scarcity of water for washing utensils, and an increase in disposable income are expected to drive market growth. Additionally, changing food preferences towards convenience and an escalation in social gatherings are anticipated to fuel the demand for disposable cups.
Despite the optimistic outlook, concerns regarding environmental sustainability persist, as plastic and foam cups contribute to pollution and harm wildlife. Many nations are implementing measures to restrict or ban single-use plastics, creating an opportunity for manufacturers to offer eco-friendly alternatives.

Major Key Players Included are:
Benders Paper Cups, Go-Pak UK Ltd, DUNI AB, Huhtamäki Oyj, Berry Global Group Inc, ConverPack Inc, Genpak LLC, WestRock Company, Dart Container Corporation, Pactiv LLC and other players.

Market Analysis:
Beverage consumption is a pivotal driver for the escalating demand in the disposable cups market. Fueled by the popularity of on-the-go coffee, tea, and specialty beverages, the market has seen significant growth. This surge is further propelled by factors like rapid urbanization, hectic lifestyles, and the expanding city population. Increasing environmental awareness has presented an opportunity for manufacturers to introduce sustainable alternatives, meeting the demand for biodegradable or compostable cups made from materials like paper, bamboo, or plant-based plastics. Moreover, the rise of e-commerce and online food delivery services has opened new avenues of market opportunities for disposable cups.

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Segment Analysis:
Plastic stands out as a dominant raw material, owing to its versatility and cost-effectiveness. Within product types, Packaging & Drinking Cups take the lead, catering to diverse consumer needs. The institutional sector dominates end-use, driven by widespread usage in commercial establishments. These segments reflect market preferences aligned with urbanization, convenience, and environmental concerns. The plastic segment's versatility and affordability, coupled with the popularity of Packaging & Drinking Cups, underscore the market's responsiveness to consumer behaviors and evolving trends, emphasizing the diverse applications and preferences within the disposable cups landscape.

By Raw Material
- Paper
- Foam
- Plastic
- Fiber

By Product Type
- Packaging & Drinking Cups
- Lids
- Others

By End Use
- Household
- Institutional
- Commercial

Key Regional Development:
Asia Pacific leads the disposable cups market with a substantial 35% share in 2022, driven by urbanization, evolving food habits, and the proliferation of global food chain outlets. The region is poised for rapid growth, given the rising disposable income and the increasing popularity of Western fast-food chains in nations like India. North America, anticipated to grow at a 6% CAGR, benefits from a thriving cafe culture and a rebound in restaurant openings post-lockdown.

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Key Takeaways for Disposable Cups Market:
- The Disposable Cups Market is set to exceed USD 23.37 Billion by 2030.
- Plastic cups dominate the market due to cost-effectiveness and versatility.
- Asia Pacific leads in market share, driven by urbanization and changing food consumption patterns.

Recent Developments:
- Berry Global Group Inc. unveiled an all-plastic cup made from mechanically recycled Post Consumer PCR polymers in partnership with Taco Bell in May 2022.
- Huhtamaki Oyj strengthened its position as a market leader by acquiring Elif, a global supplier of flexible packaging, in September 2021.

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Table of Contents – Major Key Points
1 Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2 Research Methodology
3 Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4 Impact Analysis
4.1 Impact of the Russia-Ukraine War
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
4.3 Supply Demand Gap Analysis
5 Value Chain Analysis
6 Porter’s 5 forces model
7 PEST Analysis
8 Disposable Cups Market Segmentation, By Raw Material
8.1 Paper
8.2 Foam
8.3 Plastic
8.4 Fiber
9 Disposable Cups Market Segmentation, By Product Type
9.1 Packaging & Drinking Cups
9.2 Lids
9.3 Others
10 Disposable Cups Market Segmentation, By End Use
10.1 Household
10.2 Institutional
10.3 Commercial
11 Regional Analysis
12 Company Profile
13 Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
14 USE Cases and Best Practices
15 Conclusion
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