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Foodservice cup demand to grow 3.3% annually, reach $5.4 billion by ’21
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Thursday, 15 February, 2018, 08 : 00 AM [IST]
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Cleveland
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Foodservice cup demand will grow 3.3 per cent annually through 2021 to $5.4 billion, accounting for just under half the demand for single-use serviceware. This was among the trends presented in Foodservice Single-Use Products in the United States, a new study by the Freedonia Group, a Cleveland-based industry research firm.
Beverage cups hold the largest share of this demand by far (over 90 per cent of the total), with the remainder being portion cups. Beverage cups will post slightly faster growth through 2021.
Supporting this growth will be the general rise in foodservice revenues and such foodservice trends as the following:
- 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
The demand for single-use disposable foodservice products, including packaging and serviceware, is forecast to increase 3.2 per cent 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. The demand will also be supported by a shift toward the use of higher-value products featuring durable plastic or compostable materials.
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