Foodservice cup demand will grow 3.3% annually through 2021 to $5.4 billion, accounting for just under half of single-use serviceware demand. Beverage cups hold the largest share of this demand by far – over 90% of the total – with the remainder being portion cups. Beverage cups will post slightly faster growth through 2021. These and other trends are presented in Foodservice Single-Use Products in the US, a new study from The Freedonia Group, a Cleveland-based industry research firm.
Supporting growth will be the general rise in foodservice revenues along with foodservice trends such as:
· specialty hot and cold beverages, especially iced and cold brew coffee, along with fruit-based drinks, like juices and smoothies
· increased foodservice sales at retail establishments offering various beverage options
· increased hot and cold drinks consumed on-the-go
· delivery options requiring durable portion cups for sauces
Demand for single-use disposable foodservice products, including packaging and serviceware, is forecast to increase 3.2% annually to $21.8 billion in 2021. Growth will be driven by the increased options and convenience of meals prepared or consumed away from home. Demand will also be supported by a shift toward the use of higher value products featuring durable plastic or compostable materials.
Foodservice Single-Use Products in the US (published 12/2017, 174 pages) is available for $5600 from The Freedonia Group. For further details or to arrange an interview with the analyst, please contact Corinne Gangloff by phone 440.684.9600 or email email@example.com.
Related studies include:
#3529 Packaging Films Market in the US (July 2017)
#3527 Wipes Market in the US, 8th Edition (June 2017)
About The Freedonia Group, a division of MarketResearch.com – The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985, we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Additional Packaging studies can be purchased at www.freedoniagroup.com, www.marketresearch.com and www.profound.com.
Source: The Freedonia Group