ID: MRFR/CR/8883-CR | December 2020 | Region: Global | 100 pages
Global Plastic Tableware Market is projected to register a CAGR of 2.98% and reach USD 9,323.2 Million by 2027. Tableware products, including the dishes or dishware that come in several materials, such as plastic, glass, and ceramic, are used for setting the table, serving food, and dining. The global plastic tableware market has witnessed substantial growth over the last few years. The mounting growth of the foodservice industry across the globe is anticipated to act as one of the significant factors for the rapid growth of the global plastic tableware market. On the other hand, a high consumer inclination towards convenience products is anticipated to propel the growth of the market further. However, the ban on plastic use in several countries is expected to restrict the sales of plastic tableware during the forecast period. The shifting consumer preference towards biodegradable plastics is anticipated to offer lucrative opportunities for the manufacturers of plastic tableware.
The fast-food industry is a major consumer of plastic tableware. Restaurants, cafés, bars, caterings, and hotels account for a significant share in the sale of plastic tableware. Foodservice providers have very little time to wash their utensil inventory. This can lead to plates being improperly washed, causing various health and safety concerns to arise, such as exposure to E. coli and other bacteria. Thus, more and more foodservice providers are adopting disposable tableware. Foodservice providers prefer plastic tableware for their sanitary convenience. Additionally, they are more cost-effective than any other disposable tableware. The rising consumption of mocktails and cocktails at social gatherings, corporate conferences, and concerts is also boosting the sales of plastic tableware in the catering industry. Thus, the foodservice industry is a major customer for the manufacturers of plastic tableware, and its growth is a primary driving factor for the plastic tableware market. However, ban on plastic use in various countries is expected to hamper the growth of the plastic tableware market. Plastic pollution has a disastrous impact on not only marine life but also the food chain and public health. It is reported that approximately eight million tons of plastic trash is thrown into the ocean every year. Single-use plastic waste is a global problem, with items such as straws, water bottles, and bags accounting for over 40 percent of the pollution. Hence, to prevent further environmental damage, the governments of various nations are taking action against plastics.
Mandatory closures of hypermarkets and supermarkets and convenience stores due to the outbreak of COVID-19 have affected the sales of plastic tableware globally. It has lowered the production capacities. Mandatory closures of manufacturing facilities due to COVID-19 has impacted the entire plastic tableware industry. Stringent lockdown restrictions have resulted in transportation woes, which has ultimately impacted the availability of adequate manpower and raw materials supply. The pandemic has impacted the plastic tableware supply chain, as many countries are under lockdown and have sealed their borders to curb the spread of the virus. Stringent lockdown restrictions imposed by governments of various countries have resulted in significant restrictions on transportation. This is impacting the distributors in supplying the production units to retailers. The retailers such as supermarkets and hypermarkets and convenience stores, selling plastic tableware are experiencing acute shortage despite having demand in certain regions.
Global Plastic Tableware Market Revenue, By Distribution Channel, 2027 (Million USD)
Sources: MRFR Analysis
On the basis of distribution channel, the global plastic tableware market has been divided into store-based and non-store-based. The store-based segment is further divided into supermarkets & hypermarkets, convenience stores, and others. The segment is expected to dominate the global market and reach USD 8,019.6 million by the end of 2027. The non-store-based segment is projected to register the highest CAGR of 3.76% during 2020-2027. The store-based segment accounted for a significantly higher market share of 86.73% in 2019 and is expected to retain its dominance during the forecast period. Consumers prefer store-based channels as they provide a one-stop shopping experience.
Global Plastic Tableware Market Share, By Region, 2019 (%)
Sources: MRFR Analysis
Asia-Pacific is expected to constitute a dominant share of the plastic tableware market during the forecast period. The region accounted for 37.01% of the market in 2019. China is among the major contributors to the growth of the Asia-Pacific market. The market in the region is projected to register a significant CAGR of 3.39% during the forecast period of 2020 to 2027. New product launches with increasing investment in plastic tableware products are expected to fuel the growth of the market in Asia-Pacific. The regional market is fragmented owing to the presence of several local and regional players. The expanding organized retail sector in the emerging economies of Asia-Pacific is also expected to augment the growth of the plastic tableware market during the forecast period.
Prominent players in the global plastic tableware market include Libbey Inc. (US), Lollicup USA (US), American Greetings Corporation (US), AmerCare (US), Dopla Spa (Italy), Huhtamaki Group (Finland), Solia USA (US), Dart Container Corporation (US), Georgia-Pacific LLC (US), and Genpak LLC (US).
Players operating in the global plastic tableware market are focusing on strengthening their regional footprint by expansion, product launch, agreement, partnership, acquisition, and investing in R&D.
Global Plastic Tableware Market, by Type
Global Plastic Tableware Market, by Distribution Channel
Global Plastic Tableware Market, by Region
|Market Size||USD 9,323.2 Million (2027)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Distribution Channel|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Libbey Inc. (US), Lollicup USA (US), American Greetings Corporation (US), AmerCare (US), Dopla Spa (Italy), Huhtamaki Group (Finland), Solia USA (US), Dart Container Corporation (US), Georgia-Pacific LLC (US), and Genpak LLC (US).|
|Key Market Opportunities||The Shifting Consumer Preference Towards Biodegradable Plastics|
|Key Market Drivers||New Product Launches|