The market for disposable cups is anticipated to increase rapidly, with an estimated US$10.6 billion in global sales by 2021. The demand for disposable cups is expected to rise between 2021 and 2031 at a CAGR of 5.7%, according to FMI.
According to the most recent analysis from Future Market Insights, disposable cup sales will reach 600 billion units globally in 2019, an increase of 3.3% from 2018. The market for disposable cups is anticipated to expand at a rate of 4% CAGR between 2019 and 2029, driven by factors such as accessibility and affordability, rising non-alcoholic beverage consumption, and the expansion of international coffee shops and retail chains, particularly in developing nations.
Disposable cups are increasingly entering landfills and the ocean as a result of the “throwaway culture,” causing possible issues among environmental organizations and customers who have adopted a “zero-waste” mentality. Manufacturers who implement sustainable solutions and maintain a high level of innovation will probably benefit in the long run.
Despite COVID-19’s sluggish sales, demand for disposable cups will increase starting in 2021, albeit modestly. By the end of 2021, it is anticipated that throwaway cup usage would reach 462.2 billion units worldwide. In terms of volume, the market is expected to grow at a 5.3% CAGR during the forecast period.
Consumers in today’s society lead hurried lives and are constantly on the go. Disposable cups are a practical and affordable alternative that people can use as they enjoy a sip of their preferred beverages while performing their daily chores.
“As people choose to eat out more frequently, the demand for disposable cups will increase along with the acceptance of on-the-go beverages and increased knowledge of eco-friendly packaging options. Additionally, the growth of supermarket chains, quick-service restaurants, and hypermarkets would increase sales prospects in the disposable cup industry, according to an FMI analyst.
Disposable Cups Market by Category –
By Material Type:
Paper
Plastic
Foam
By Capacity:
Less than 250 ml
250 to 750 ml
Above 750 ml
By Application:
Food
Beverages
By End User:
Food Serve
Food Retail
About FMI
Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments based on Source, Application, Sales Channel, and End Use over the next 10-years.
