Disposable Cutlery Market to Reach $22.1 Billion, Globally, by 2035 at 5.4% CAGR
Allied Market Research published a report, titled, "Disposable Cutlery Market by Product Type (Spoon, Fork, and Knife), Material (Plastic and Wood), End User (Household and Commercial), and Distribution Channel (B2B, Hypermarkets & Supermarkets, Convenience Stores, Online Retail, and Others): Global Opportunity Analysis and Industry Forecast, 2024-2035". According to the report, the " The global disposable cutlery market was valued at $11.8 billion in 2023, and is projected to reach $22.1 billion by 2035, growing at a CAGR of 5.4% from 2024 to 2035.
Download Sample Pages of Research Overview: https://www.alliedmarketresearch.com/request-sample/A31543
Prime determinants of growth
Fast-paced lifestyles and convenience-driven consumer preferences are the main factors propelling the growth of the disposable cutlery market. Strict laws on single-use plastics and environmental concerns about biodegradable materials have also encouraged expansion. Growth in the food service and eco-conscious consumer segments is further fueled by innovations in sustainable materials and designs. Global market demand for disposable cutlery is also being driven by its convenience in a variety of contexts, such as parties, outdoor activities, and takeaway restaurants.
Procure Complete Report (250 Pages PDF with Insights, Charts, Tables, and Figures): https://www.alliedmarketresearch.com/checkout-final/1dffca82624c8134acd262057e080a9a
The spoon segment held the highest market share in 2023.
By product type, the spoon segment held the highest market share in 2023, accounting for nearly half of the disposable cutlery market share and is estimated to maintain its leadership status throughout the forecast period. The growth of disposable spoon cutlery is significantly driven by the expansion of the food delivery and takeaway industry in urban areas, especially in developing regions. The fork segment showcases the fastest CAGR of 5.8% during the forecast period. The increased reliance on online food ordering platforms has led to a surge in demand for single-use utensils such as disposable forks, catering to the convenience-seeking habits of consumers globally.
The plastic segment held the highest market share in 2023.
By material, the plastic segment held the highest market share in 2023, accounting for more than half of the disposable cutlery market revenue and is estimated to maintain its leadership status throughout the forecast period. Rise in preference for convenience-driven lifestyles, where time-saving solutions are prioritized, has made single-use plastic cutlery appealing for quick meals and on-the-go consumption. The wood segment, however, showcases the fastest CAGR of 6.2% during the forecast period. The growth of wood disposable cutlery is primarily driven by an increase in environmental consciousness and the demand for sustainable alternatives to plastic.
The commercial segment held the highest market share in 2023.
By end user, the commercial segment held the highest market share in 2023, accounting for nearly three-fifths of the disposable cutlery market revenue and is estimated to maintain its leadership status throughout the forecast period. The fast-paced nature of the food service industry necessitates quick and efficient solutions for meal preparation and service. Disposable cutlery provides a convenient option, which eliminates the need for washing and sanitizing traditional utensils, thereby streamlining operations and reducing turnaround time. The household segment, however, showcases the fastest CAGR of 6.0% during the forecast period. Household commonly use disposable cutlery for convenient and efficient meal preparation and consumption. These utensils offer a hassle-free solution for quick snacks, picnics, and outdoor gatherings, eliminating the need for washing and maintenance.
The B2B segment held the highest market share in 2023.
By distribution channel, the B2B segment held the highest market share in 2023, accounting for one-third of the disposable cutlery market revenue and is estimated to maintain its leadership status throughout the forecast period. The B2B e-commerce evolution has introduced the path to digital procurement in the disposable cutlery industry. The adoption of digitalization in sales channels has made the work of manufacturers and vendors easy and smooth. The online retail segment, however, showcases the fastest CAGR of 6.3% during the forecast period. An electronic commerce store provides consumers the opportunity to purchase goods or services directly through a web browser or a mobile application from manufacturers and online retailers. The ways of buying disposable cutlery products have developed with time due to the ease of accessibility of items through online retailers and corporate websites.
Want to Access the Statistical Data and Graphs, Key Players' Strategies: https://www.alliedmarketresearch.com/purchase-enquiry/A31543
Asia-Pacific to maintain its dominance by 2035
By region, Asia-Pacific held the highest market share in terms of revenue in 2023 and is likely to dominate the market during the forecast period. However, this region is expected to witness the fastest CAGR of 6.0% from 2024 to 2035. The disposable cutlery market for Asia-Pacific is expected to grow as the population takes interest in various types of food offered by restaurants, and food-chains, and others in the market. The disposable cutlery manufacturers are using sustainable raw materials in their products to attract consumers into using the product to earn the trust of conscious consumers.
Leading Market Players: -
Anchor Packaging Pty Ltd.
BioPak
D&W Fine Pack LLC
Dart Container Corporation
Gold Plast SPA
Hotpack Packaging Industries LLC
Huhtamaki
Novolex
Pactiv Evergreen Inc.
Vegware Ltd
The report provides a detailed analysis of these key players in the disposable cutlery market. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.