Cups & Lids Market Business Overview, Challenges, Opportunities, Trends and Market Analysis By 2023

Summary

Global Cups & Lids Market Size, Share, Growth, Analysis, Trends: By Raw Material (Plastic, Paperboard, and others), Products (Cups & Lids), Application (Food & Beverage, Foodservice, Retail, and others), and Region - Forecast 2017-2023

Cups & Lids Market Synopsis

The demand for food packaging has increased due to consumers’ inclination towards the specialty & processed food and advanced food packaging material. Thus, the increased demand for packaged food and food trends, which favor convenience and smaller portions of products has transofromed the packaging industry to some extent. Manufacturers are concentrating on developing recycled and biodegradable materials as well as various other packaging materials, which can prevent the products contamination and increase the shelf life of the product. Moreover, different designs and shapes of packaging such as cartoon designs, logo printed, designs of coffee, tea or any other beverage significantly impact the purchase decisions of consumers, which is likely to affect the market growth positively.

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Packaging cups have gained considerable attention and become more common choice for snack. Additionally, portable and pre-packaged nature of packaged products are some of the factors, which drive the market growth. This, in turn, affect revenues of food producers positively as well as allowing items to sold at a premium price.

Key Players

Some of the major player operating in the global Cups & Lids Market are Georgia-Pacific LLC (U.S.), Clondalkin Group Holdings (The Netherlands), Greiner Holding AG, Huhtamäki Oyj Reynolds Group Holdings Limited, PrintPack Inc. (U.S.), Solo Cup Operating Corporation (U.S.), Bemis Company, Inc.(U.S.), WinCup (U.S.), International Paper Company (U.S.), Airlite Plastics Company (U.S. ), and Berry Global Inc.(U.S.)

Regional Analysis

On the regional basis, the market is segmented into Americas, Europe, Asia Pacific, and the Middle East and Africa. Geographically, Asia Pacific expected to dominate the global Cups & Lids packaging market with the largest market share. Whereas, the U.S. Cups & Lids market is projected to reach USD 9.6 billion by 2020. Food trends that favor convenience and smaller packs and growing focus on specialty beverages are driving the regional market growth.

A number of initiatives across the globe favor the use of traditional cups and glasses. Moreover, increasing sale of food and beverage in restaurants and retail stores, increasing the percentage of drinking cups that are utilizing lids. These are some of the key factors, which push the market growth further.

Market Segmentation

MRFR's segmental review of the global Cups & Lids market has segmented it on the basis of raw material, product, application, and region. Raw materials used for the production of Cups & Lids have been segmented into paperboard, plastic, and others. Cups made from paper materials are expected wot witness the most significant growth due to the environmental concern regarding foam cups and plastic cups.

Products have been primarily segmented into lids and cups.

Applications of Cups & Lids can be found in food & beverage, foodservice, retail, and others.

Convenience is likely to be a key feature

The takeaway cups are convenient to use and carry. The foodservice industry is projected to continue leading the demand for cups due to their lightweight. It is one of the best choices to support environment-friendly products and avoid carrying heavy products.

Environmental deterioration with global warming condition is influencing to use eco-friendly products. These cups are produced by using biodegradable or recyclable materials such as pulp extracted from the trees and water.

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