According to a new report published by Allied Market Research, titled, “Disposable Cutlery Market,” The disposable cutlery market was valued at $10.1 billion in 2021 and is estimated to reach $16.2 billion by 2031, growing at a CAGR of 4.8% from 2022 to 2031.
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High-income nations’ daily per capital consumption of disposable cutlery is forecast to rise at a rapid pace while low- and middle-income countries’ waste generation is likely to rise slowly as compared to others. Its consumption reduces initially at the lowest income levels and subsequently grows at a quicker pace for additional income changes at the lowest income levels than at the highest income levels. The plastic disposable cutlery market is expected to grow at a slower pace as governments of various nations are banning it. To cater for the issue of such a ban producers should shift towards environment-friendly and sustainable products. It is expected to grow more in the Asia-Pacific region as compared to others.
The disposable cutlery market size is expected to grow due to the rise in penetration of fast food restaurant chains such as Subway, Taco bell, Pizza Hut, and Domino’s. Nowadays people have shifted toward fast food as it is ready, easily available and tasty. According to the National Center for Health Statistics, youth is more fast food driven and 36.6% of the population consumes fast food in a given day. The rate of buying fast food also increases with rising in purchasing power of an individual or family. There is an increase in demand for fast food as it is tasty and easy to consume. There is an increase in demand for disposable cutlery due to the preference of people to have fast food in restaurants, hotels, cafés and others. Increasing awareness about infectious diseases which can be caused by repetitive use of cutlery also boosts the disposable cutlery market size. There is a huge increase in takeaway culture as it is a benefit for both the restaurant owner and customer as the owner does not need huge space and customers can enjoy the meal at their home. Moreover, takeaway culture has increased over the years as people got busier day by day. Along with this, the online food delivery system has worked the same way fuel works for the fire. Now people need not go anywhere, they can get the food by just sitting at home. Due to these facilities, takeaway culture has increased at this rapid pace. Growth in the busy life of the global population fuels the demand for the market as people do not need to do the chore of cleaning the cutlery which saves their time.
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There is a huge rise in the demand for packaged food in Asia-Pacific. Food which comes with packaging, and can be consumed on the go is known as packaged food. As per the Australian government, the Chinese e-commerce platform has registered a rise of 56% in sales of healthy food that is packaged to eat on the go. As per the world economic forum, growth of income in India is anticipated to drive a huge opportunity for packaged, branded offerings. The busy schedule of people in the present time provokes them to choose ready-to-eat, delicious food, which can be a disposable cutlery market opportunity which will help the disposable cutlery industry to grow.
The disposable cutlery market is segmented into product type, material, end-user, distribution channel, and region for the disposable cutlery market forecast. On the basis of product type, the market is categorized into spoons, forks and knives. On the basis of material, it is segregated into plastic and wood. On the basis of end-user, it is bifurcated into household and commercial. On the basis of distribution channel, it is divided into B2B, hypermarkets/supermarkets, convenience stores, online retail, and others. On the basis of region, disposable cutlery market analysis is done across North America (the U.S., Canada, and Mexico), Europe (France, the UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea and Rest of Asia-Pacific), and LAMEA (Brazil, Turkey, South Africa, Argentina, and Rest of LAMEA).
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The players operating in the global disposable cutlery market have adopted various developmental strategies to expand their disposable cutlery market share, increase profitability, and remain competitive in the market. The key players profiled in this report include Anchor Packaging, Apollo Funds, BioPak, D&W Fine Pack, Dart Container Corporation, DOPLA P.A.P., Goldplast, Hotpack Global, Huhtamaki and Pactiv Evergreen
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