Disposable Cutlery Market will Exhibit a Steady 4.7% CAGR through 2028
Future Market Insights (FMI) delivers comprehensive data and key insights on the global disposable cutlery market in its published report, titled “Disposable Cutlery Market: Global Industry Analysis 2013-2017 and Opportunity Assessment 2018-2028.” In terms of revenue, the global disposable cutlery market is estimated to expand at a CAGR of 4.7% during the forecast period, owing to several factors about which FMI provides an in-depth analysis. The Asia Pacific region is anticipated to dominate the disposable cutlery market during the forecast period.
Disposable cutlery comprises of disposable or single-use products usually provided in fast-food restaurants, catering services, airlines, take-away restaurants, etc. Nowadays, disposable cutlery made from biodegradable materials is available in the market and gaining traction since the last few years.
The global disposable cutlery market has been studied in a comprehensive manner, which includes segmentation by product type, fabrication process, end use, and sales channel. As per product type, the global disposable cutlery market is segmented into fork, spoon, and knife.
FMI suggests that the increasing preference for online food delivery services is driving the growth of the global disposable cutlery market during the forecast period. Disposable cutlery is expected to witness extensive sales due to a dynamic shift in consumer preference for on-the-go food. High demand for cost effective and convenient food service packaging solutions is driving the growth for the disposable cutlery market. In addition, FMI comprehends that it is not feasible for manufacturers and brand owners to provide 100% biodegradable plastic disposable cutlery. Other than functional attributes like low cost, the on-the-go features of disposable cutlery also contribute to its rising demand across the globe. Furthermore, food & beverage service providers have changed their business models. Several quick service restaurants are gaining traction. This has resulted in a tremendous increase in the usage of disposable cutlery which can be carried easily. Geographically, the global disposable cutlery market is anticipated to witness a high level of consumer preference and popularity in several regions like the Asia Pacific, North America, and Western Europe.
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Key manufacturers in the disposable cutlery market have been targeting customers who prefer biodegradable disposable cutlery made from polylactic acid (PLA). In addition, manufacturers of disposable cutlery are also focusing on coloured and decorative cutlery which adds an aesthetic look. Furthermore, cutlery producers are focusing on manufacturing wood-based disposable cutlery which is gaining traction during the forecast period.
Manufacturers of disposable cutlery are looking forward to tapping into the profitable opportunities provided by the Asia Pacific disposable cutlery market. Changes in the lifestyles of consumers in the Asia Pacific region are encouraging many of them to use disposable cutlery which provides better hygiene as compared to traditional metal cutlery. Furthermore, the saturation of food outlets, quick service restaurants, and growth in public infrastructure is estimated to translate into the rising popularity of disposable cutlery during the forecast period. The opportunities made by ‘away from home’ consumption of food items are gradually increasing and have resulted in the growth of the disposable cutlery market. Fast-paced lifestyle has influenced the on-the-go food consumption patterns of consumers to an extent. A study found out that, an average American in urban area eats outside nearly 14 times a month, leading to increased opportunities for growth in sales of disposable cutlery. Furthermore, according to an independent survey, China’s online food service industry is expected to grow significantly at 30% in the next few years. All these above factors would positively affect the global disposable cutlery market during the forecast period.
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The key players which have been profiled in the report on the global disposable cutlery market include – Huhtamäki Oyj, Georgia-Pacific LLC, Pactiv LLC, Dart Container Corporation, Novolex Holdings, Inc., Biopac UK Ltd, Genpak, LLC, Vegware Ltd, D&W Fine Pack LLC, Gold Plast SpA, DOpla S.p.A., Hotpack Group, Fast Plast A/S, Anchor Packaging Inc., and I.L.P.A. S.p.A. Group.
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