Plastic Cutlery Market: Overview
Plastic cutlery is disposable and one-time use product. They are most commonly used by restaurants performing home delivery, airlines and in events, camping and catering services & fast-food restaurants, etc. Plastic cutlery is cheap, convenient, and durable to hold any food. Large scale availability of raw material for plastic cutlery enhances its production. The popularity of plastic cutlery was due to its cost-effectiveness in comparison to other cutlery like wood cutlery and glass cutlery. They are flexible and recyclable, which reduces the major impact of plastic on the environment. Plastic cutlery can be in the form of fork, spoons, knives which are lightweight and can be easily carried. No clean-up is involved while using plastic cutlery which lowers the efforts of the consumer. Plastic cutlery is easy to store, hygienic, and easily portable. Plastic cutlery is attractive as they come in many varieties. The market for plastic is rapidly increasing as there is a great need for plastic cutlery in outdoor occasions like weddings, gatherings, meetings, and events. Hence driving the plastic cutlery market globally.
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Changing Business Model of Food & Beverage Service Providers to give fillip
The rising number of multinational quick service restaurants (QSR) worldwide is leading to a surge in demand for foodservice disposables and single-use cutleries. Such food service restaurants do not invest in resources for the cleaning and maintenance of serving containers. This helps chain operators to reduce labour costs and thereby escalating the plastic cutlery market.
There has been a dynamic shift in the consumer consumption pattern in the food and beverages sector. On an average, online food delivery platforms in emerging countries such as India, offer over 40% return on investment. This is leading to an intense competition across food delivery platforms among food service companies, and ensuring lucrative opportunities for manufacturers of food disposables and single-use plastic cutleries. This is one of the major factor in driving the plastic cutlery market in emerging countries.
Implementation of Stringent Environmental Regulations on the Usage of Plastic Cutlery
Plastic takes hundreds of years to recycle and therefore, is not favoured by many countries and organizations. In fact, BBC has plans to ban all single-use plastics by the end of 2020. In 2016, France became the first country in the world to put a complete ban on disposable plastic cups and plates. Moreover, plastics release harmful chemicals which can be toxic to plant, marine, and consumer’s life, which increases the level of pollution. Plastic cutlery makes soil infertile by releasing harsh chemicals which can affect the ecosystem stability. All these factors contribute in hampering the plastic cutlery market in the near future.
Plastic Cutlery Market: Key Players
Some of the key manufacturers in the plastic cutlery are mentioned below:
- Dart Container Corporation,
- Eco-Products, Inc.
- Fuling Global Inc.
- Biopac India Corporation Ltd.
- TrueChoicePack Corporation
- Lollicup USA Inc.
- Huhtamaki Oyj
- Genpak LLC.
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Plastic Cutlery Market: Key Developments
Key players in the plastic cutlery market focuses on mergers and acquisitions as a strategy to provide its customers with a wide range of products
- In December 2015, the Pactiv LLC invested US$ 4.5 Mn in its Columbus, Ohio facility to add two new production lines.
- In October 2016, the D&W Fine Pack LLC launched Cruiser Ware oblong containers and lids as a solution for take-out, to-go, and prepared foods.
- In August 2017, Dart Container Corporation invested US$ 40 Mn for the development of innovation center in Michigan, U.S.
- In March 2016 Georgia-Pacific LLC acquired Excel Displays and Packaging, a retail packaging and point?of?purchase displays manufacturer.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with plastic cutlery market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.