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PORTLAND, OREGON, UNITED STATES, March 12, 2023 /einpresswire.com / -- According to the report published by Allied Market Research, the global disposable cutlery market garnered $ $10.1 billion in 2021, and is estimated to generate $16.2 billion by 2031, manifesting a CAGR of 4.8% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
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Surge in penetration of fast food restaurant chains such as Subway, Taco Bell, Pizza Hut, and Domino's, preference of people to have fast food in restaurants, hotels, cafés, and others, and rise in social events and gatherings drive the global disposable cutlery market. However, the closure of restaurants, food chains, and others caused the market to setback in 2020. Based on region, Asia-Pacific held the largest share in 2021, contributing to nearly two-fifths of the total disposable cutlery market share.
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.
The research provides detailed segmentation of the global disposable cutlery market based on type, material, end use,distribution channel, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
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Based on type, the spoon segment held the highest share in 2021, accounting for nearly half of the global disposable cutlery market, and is expected to continue its leadership status during the forecast period. However, the fork segment is expected to register the highest CAGR of 5.2% from 2022 to 2031.
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Based on material, the plastic segment accounted for the highest share in 2021, contributing to nearly three-fifths of the global disposable cutlery market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the wood segment is expected to manifest the highest CAGR of 5.7% from 2022 to 2031.
Based on end use, the commercial segment accounted for the highest share in 2021, holding more than half of the global disposable cutlery market, and is expected to continue its leadership status during the forecast period. In addition, the same segment is estimated to grow at the highest CAGR of 5.3% during the forecast period.
Based on region, Asia-Pacific held the largest share in 2021, contributing to nearly two-fifths of the total disposable cutlery market share, and is projected to maintain its dominant share in terms of revenue in 2031. In addition, the same region is expected to manifest the fastest CAGR of 5.4% during the forecast period. The research also analyzes regions including North America, Europe, and LAMEA.
Leading market players of the global growlers market analyzed in the research include Anchor Packaging, Apollo Funds, Biopak, D&W Fine Pack, Dart Container Corporation, DOpla S.p.A., Goldplast, Hotpack Global, Huhtamaki, and Pactiv Evergreen.
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The report provides a detailed analysis of these key players of the global disposable cutlery market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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