The disposable cutlery in Korea is poised for substantial growth up to 2034, with the adoption of this solution in both the South Gyeongsang and North Jeolla regions anticipated to show a robust CAGR of 6.1% through 2034.
The demand for disposable cutlery has evolved into a mainstream industry in Korea, and this trajectory is set to drive the sector to an estimated valuation of approximately USD 27.8 million in 2024.
With a promising outlook and consumers growing reliance on online shopping platforms, the projected demand for stretch film in Korea is expected to reach an impressive USD 50.5 million by 2034.
Key Insights and Highlights to Understand Emerging and Fast-growing Opportunities
| Attributes | Details |
|---|---|
| Demand Analysis (2024) | USD 27.8 million |
| Demand Forecast (2034) | USD 50.5 million |
| CAGR Estimation (2024 to 2034) | 6.1% |
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South Gyeongsang, a region with a diverse economic landscape, including manufacturing and agriculture, could have a dynamic disposable cutlery industry. Given the province significant industrial presence, it is plausible that there are manufacturing facilities producing disposable cutlery to cater to both local and national markets.
The industry in South Gyeongsang might be influenced by global trends, with a potential focus on sustainability given the increasing importance of eco-friendly materials. The province strategic location and infrastructure could also play a role in the distribution and supply chain aspects of the disposable cutlery industry.
North Jeolla, known for its agricultural and manufacturing sectors, may also be in the disposable cutlery industry. The agricultural emphasis in the province could lead to an increased demand for disposable cutlery, especially in food service and catering. The industry in North Jeolla might be influenced by regional preferences, potentially catering to local culinary traditions and practices.
Additionally, given the province role as an agricultural hub, there could be a focus on sustainable and eco-friendly materials in disposable cutlery production, aligning with global trends. Local businesses may also play a role in shaping the industry landscape.
The table below highlights how spoon and food service will lead the product type and end-use in 2024.
| Category | Industrial Share in 2024 |
|---|---|
| Spoon | 56.9% |
| Food Service | 59.6% |
In the rapidly evolving landscape of the disposable cutlery industry, 2024 is poised to witness a prominent surge in the dominance of specific product types and end-use categories. Forecasts indicate that spoons will emerge as a frontrunner, commanding a substantial industrial share of 56.9%.
This notable uptick underscores disposable spoons enduring popularity and widespread utility in various applications, from domestic settings to broader commercial and industrial contexts.
The food service sector is anticipated to play a pivotal role in steering the trajectory of the disposable cutlery industry, capturing a significant share of 59.6%. This robust representation signifies disposable cutlery integral role in food service, encompassing restaurants, catering services, and diverse culinary establishments.
The heightened demand within the food service category underscores the convenience, efficiency, and hygiene considerations that drive the pervasive use of disposable cutlery in the dynamic landscape of the hospitality and food industry.
| Attribute | Details |
|---|---|
| Estimated Industry Size in 2024 | USD 27.8 million |
| Projected Industry Size in 2034 | USD 50.5 million |
| Anticipated CAGR between 2024 to 2034 | 6.1% CAGR |
| Demand Forecast for the Disposable Cutlery Industry in Korea | 2024 to 2034 |
| Report Coverage | Industry Size, Industry Trends, Analysis of key factors influencing the Disposable Cutlery Industry in Korea, Insights on Global Players and their Industry Strategy in Korea, Ecosystem Analysis of Local and Regional Korea Providers |
| Key Provinces Analyzed | South Gyeongsang, North Jeolla, South Jeolla, Jeju |
| Key Companies Profiled | Hyunjin Co. Ltd; Chang Sung Band Co. Ltd; Anhui Jialong Knives Manufacturing Co. Ltd; Anchor Packaging; Apollo Funds; Biopak; D&W Fine Pack; Dart Container Corporation; Hotpack Global; Pactiv Evergreen; Gold Plast |
By 2024, the estimated valuation of the disposable cutlery industry is USD 27.8 million in value terms.
The anticipated CAGR for the disposable cutlery ecosystem through 2034 is 6.1%.
By 2034, the demand for the disposable cutlery industry will reach USD 50.5 million.
Spoon is estimated to surpass the valuation of the on-premise model soon.
From 2019 to 2023, the industrial valuation rose to a CAGR of 3.1%.
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Demand and Trend Analysis of Disposable Cutlery in Korea
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