The Asia Pacific Disposable Cups Market would witness market growth of 10.3% CAGR during the forecast period (2020-2026). The major determinants surging the growth of the market is the growing culture of takeaway and use & throw in the food serving and related industries.
Additionally, the increasing purchasing power, per capita income, disposable income along with the rising urbanization, and shifting lifestyle & eating habits are some of the catalysts for the growth of the disposable cups market. The shifting trend of takeaway services due to the busy schedule and hectic lifestyle of people are contributing to the rising demand for new and enhanced disposable cups. In addition, these disposable cups are easily available in various sizes and colors, which further spur its demand in events like marriages and other corporate events.
The increasing environmental issues are the major restraint of the global disposable cups market. Several organizations have developed disposable cups, which are appropriate for serving hot and cold beverages. In addition, many global and regional market players are putting high investments in the market that is further creating lucrative growth opportunities for the disposable cups market.
Factors like lightweight, recyclability, ease to handle and low cost act as the driving forces for the disposable cups market. The growing inclinations towards outside dining, and rising disposable income, are the key aspects fuelling the growth of the disposable cups market. In addition, the advent of new restaurants & food courts is projected to boost the demand for disposable cups market during the forecast period.
The Commercial market dominated the Singapore Disposable Cups Market by Product in 2019, thereby, achieving a market value of $61.5 million by 2026. The Institutional market is showcasing a CAGR of 10.6% during (2020 - 2026).
Based on Product, the market is segmented into Foam, Plastic and Paper. Based on End Use, the market is segmented into Commercial, Institutional and Household. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: Disposable Cups Market in Asia Pacific is expected to register a CAGR of 10.3% during the forecast period (2020-2026)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Berry Global Group, Inc., WestRock Company, Huhtamaki Oyj, Dart Container Corporation (Aprinta Group), Eco-Products, Inc. (The Waddington Group, Inc.), Duni AB, Genpak, LLC (Great Pacific Enterprises, Inc.), SCG Packaging Public Company Limited (Siam Cement Group), ConverPack, Inc., and Bender, Inc.
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