Disposables have become a ubiquitous part of modern life owing to changing food habits and busy schedule. Most ready to eat meals are served in disposables making it easier for the consumer to eat on the go. However, most of the disposables end up in the landfills challenging environment and human health. Due to increasing concern for environment and waste disposal, manufacturers are looking for more sustainable alternatives such as recyclable products which can help in minimizing environmental pollution and be used to serve ready to eat meals meeting the demand of the consumers. Recyclable cups are made of paper and plastics which once disposed can be recycled and used to produce other usable materials. Thus, the need for alternative disposables owing to increasing concerns from consumers towards health and environment are expected to drive the recyclable cups market throughout the forecast period.
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Recyclable Cups market– Dynamics
There have been an increase in quick service restaurants over the past few decades due to consumers changing life style and food habits leading to a parallel rise in the demand for more hygienic packaging and serving materials and the trend is expected to continue over the forecast period thereby creating more opportunities for recyclable cups market. Recyclable cups are made from paper and plastic which gives it an extra advantage of being molded and designed to make the product attractive and visually appealing. The recyclable cups are intended to reduce the environmental and health impacts caused by the use of traditional disposable cups made from materials hard to recyclable. The recyclable cups also helps the manufacturer in reducing the carbon footprint thereby reducing the cost of overall production. Attributed by these features, the recyclable cups market is anticipated to grow in terms of demand throughout the forecast period. However, the recyclable cups market is very fragmented in nature. The presence of local players and the offering of the products at comparatively lower prices tends to hamper the growth of multinational players in this market.
Recyclable Cups market – Region wise outlook
The global recyclable cups marketis segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.
Over past few decades, North America has been an established market. However, due to stringent law implication on the disposable cups and consumer concern over health and hygiene are anticipated to drive the market of recyclable cups in North America. Asia Pacific with two emerging economies, China and India is expected to dominate the recyclable cups market over the forecast period. Asia Pacific have witnessed an increase in quick service restaurants over the past few years and the trend is expected to continue over the forecast period. The major consumption of recyclable cups is anticipated to account from food service and food retail sectors, therefore, Asia pacific is expected to witness substantial growth in recyclable cups market between 2017 and 2027. However, revenue from the markets in Latin America and Middle Eastern countries is sluggish currently due to stagnant economy which is also expected to translate into lower demand for recyclable cups in these regions.
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Recyclable Cups market – Key Players
The key players in recyclable cups market include Berry Plastics Corporation, Eco-Products, Inc., FrugalPac Limited., Paper Cup Company, Genpak, LLC., Huhtamaki Oyj, JAMES CROPPER PLC