Higher degree of awareness which is strongly influenced by the pandemic combined with change in lifestyle pattern in consumers will fuel the growth of the market.
DUBAI, UAE / ACCESSWIRE / January 26, 2021 / Future Market Insights: FMI disposable cutlery market report projects this industry to reach a high valuation during the forecast period of 2021-2031, which will be represented by a graph of positive growth, with a noteworthy CAGR of more than 4%. The report tracks the global sales of disposable cutlery in 20+ high-growth markets, along with analysing the impact COVID-19 has had on the disposable cutlery industry.
The market has made substantial gains in the recent past, as a result of changing consumer preferences, and an increasing number of manufacturers and start-ups. Due to COVID-19, several change in eating patterns were noticed. This market showed a meteoric rise in sales when safety and hygiene is considered as the top priority. Advantages such as recyclable nature, cost effective, and attractive have been favouring their increasing use.
This market is expected to gain momentum in the upcoming future, as the world is seeing a huge increase in number of online food chains and takeaways. With America estimated to remain as one of the most lucrative markets throughout the course of the forecast period because of the presence of some of the leading food chains, Asian countries like China and India will drive the market in the projected years. While China is projected to remain in the forefront because of increasing inclination towards disposable bamboo-based cutlery, rapid popularity of online food chains like Swiggy and Zomato is fuelling the growth of the disposable cutlery market in India.
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"The increasing number of worldwide multinational QSR's is attributable for the rise in demand for disposables and single-use cutlery. Disposable cutleries are considered ideal solutions for curbing expenditure on cleaning and maintaining containers for serving. This will also help chain operators to minimize labour costs and make use of the internal resource to boost efficiency and serve customers." Remarks Future Market Insights analysts.
Key takeaways from Future Market Insights' Disposable cutlery market's industry
- Disposable spoons are in high demand and are expected to continue dominating through the course of the forecast period.
- US to remain a dominant player, owing to its favourable QSR growth, and presence of major fast food chain suppliers.
- Germany is expected to remain one of the highly valuable market because the country has a huge sale in foodservices, owing to its low unemployment rate and rising population.
- UK to show a steady Y-o-Y growth as there is a behavioural shift in the consumers with the inclination towards online food ordering services.
- India to hold a prominent share due to the increase in popularity of online food chains and takeaways.
Disposable cutlery's market: prominent drivers
- There is increasing focus on expanding their businesses online or starting quick service restaurants (QSR).
- Rising environmental concerns are likely to shift the demand from plastic cutleries. The centre of focus would be towards eco-friendly biodegradable cutlery industry.
- The higher number of supermarkets and other retailers has been making the most sales and profit in the channel.
- By cutlery type, wrapped disposable cutleries is estimated to expand the most due to rising safety concerns among the customers.
- Thermoforming is the more preferred fabrication for disposable cutleries, owing to its speed in manufacturing process.
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Disposable cutlery's market: Key restraints
- Waste of resources. For example, disposable chopsticks, which are thrown away after using once, is equivalent to waste a lot of wood.
- More than 85% disposable cutlery is made up of plastic such as polystyrene, and polylactic acid, which when disposed will cause damage to soil and water resources, and polystyrene is a carcinogenic environmental hormone substance.
- In order to reap the benefits, some manufacturers use poor materials for the production of disposable cutleries, which brings harm to the health of the people, and the good will of the industry.
There is a preference of the biodegradable cutleries over plastic ones due to rising environment concerns. This surge in demands will create the entries of new companies into this sector and the key market players are projected to continue their expansion by coming up with new innovative ways during the years 2021-2031.
For instance, Pactiv LLC, one of the global leaders in disposable cutlery products provides, offer a full line-up of wrapped cutlery for increased cleanliness and sanitation.
Manufacturers of disposable cutlery are also constantly trying to keep up with the green trends. For instance, in 2020, one European company, ReFork Industries OÜ have claimed that, it has developed 100% biodegradable material that has been using in the production of cutlery products in place of disposable plastics.
Some of the leading companies operating in the market are Huhtamaki Oyj, DOpla S.p.A., Pactiv LLC, Gold Plast SpA
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