The global disposable plates market size is expected to rake around US$ 5,963.7 Mn by 2027, growing at a CAGR of 5.6% during the forecast period 2020 to 2027.
LOS ANGELES, April 07, 2020 (GLOBE NEWSWIRE) -- Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Disposable Plates Market (By Product Type: Plastic Plates, Aluminium, Paper, Others; By Design: Compartment, Plain; By Sales Channel: B2B, B2C) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027”.
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Disposable plates are rapidly gaining growth due to the increasing demand for ready to eat food across the globe. The rapidly changing lifestyle coupled with the increasing working women population is supporting the market value. The global disposable plates market is segmented into product type, design, and sales channel. On the basis of product type, the market is bifurcated into plastic plates, aluminum, paper, and others. In terms of the design, the market is divided into compartment and plain design segments. By the sales channel, the global market is segmented into B2B and B2C.
The plastic plates segment accounted for the maximum share in the global disposable plates market in 2019. The plastic plates segment is further segmented into Foam, Polypropylene (PP), Polyethylene terephthalate (PET), Polyethylene (PE), Polylactic acid or polylactide (PLA), and Polyhydroxyalkanoates (PHAs). The easy and efficient manufacturing process associated with the plastic disposable plates is primarily accelerating market growth. The availability of numerous options with lesser cost, easy access, and various designs is further supporting the market growth.
The paper plates segment is projected to exhibit the fastest growth over the estimated period from 2019 to 2026. The eco-friendly nature of paper products is primarily supporting segmental growth. Additionally, the adverse effect of plastic products on the environment coupled with the ban on plastic in several economies is projected to support the growth of paper products in the global disposable plates market. Moreover, the increasing focus of several entrepreneurs and social organizations on manufacturing of disposable plates made up of paper is further anticipated to contribute to the segmental market value. For instance, in 2019, a Meghalaya Villager has started biodegradable plates business through learning from YouTube. Dilseng Sangma, a young entrepreneur from Williamnagar in the East Garo Hills district is using Areca leaves that are biodegradable for making disposable plates and bowls. The startup is producing around 250-300 plates and bowls a day in 2018.
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In 2019, North America held the major share of the global disposable plates market. The region is particularly gaining growth due to the common trend of packaged and ready to eat food in the regional market. The busy life schedule and a high percentage of the working population are adding market value. The major economies of the region including the US and Canada are primarily contributing to the market value.
Some of the leading competitors are Be Green Packaging Llc, Ckf Inc, D&W Fine Pack Llc, Dart Container Corporation, Dopla Spa, Duni AB, Fast Plast A/S, Genpak Llc, Georgia-Pacific LLC, HOSTI GmbH, Hotpack Group, Huhtamaki Oyj, International Paper, Jinhua Lansin Commodity Co., Ltd, NUPIK – FLOUK Ltd, Pactiv Llc, Polar Plastic Ltd, Poppies Europe Ltd, Seow Khim Polythelene Co Pte Ltd., and Vegware Ltd. Disposable plates companies are focusing on new product development to expand their position in the disposable plates industry.
Some of the key observations regarding disposable plates industry include:
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