Market Research Future published a research report on “Cups and Lids Market Research Report- Forecast 2022” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2022.
Global Cups and Lids Market Information by Product Type (Cups, Lids and others), by Material Type (Paper & Paperboard, Plastic, Metal and others) by Application (Food & Beverage, Foodservice, Retail and others) and Region – Forecast to 2021
Georgia-Pacific, Clondalkin Group Holdings, Greiner Holding AG, Huhtamäki Oyj, Reynolds Group Holdings Limited, PrintPack Inc., Solo Cup Operating Corporation, Bemis Company, Inc., WinCup, International Paper Company, Airlite Plastics Company, Berry Plastics Group Incorporated, Chengdu Anbao Paper Group Company Limited, Constantia Flexibles Group GmbH, and Dart Container Corporation are some of the prominent players at the forefront of competition in the global cups and lids market and are profiled in MRFR Analysis.
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The Food packaging plays an important role for shifting consumers towards specialty & processed food, advancement in food packaging material, increase in the demand for packaging material products, and consumer awareness in developing economies. Increased demand for packaged food has transformed the packaging industry. Vendors in the global cups & lids market are continuously introducing packaging materials that can prevent the contamination of products. Moreover, packaging designs also have a significant influence on the purchase decisions of customers.
The market of foodservice is growing rapidly worldwide, as Western-style fast food restaurants become more prevalent and promote the more widespread use of disposable cups and lids. Growth will be fuelled by the significant role of beverages as revenue generators for restaurants, coupled with the increasing focus on specialty beverages among foodservice vendors. The growing trend of snacking instead of conventional meals will be beneficial for single portion packaging formats such as cups.
In particular, demand will be propelled by the important role of beverages as revenue generators for restaurants, along with the growing focus on specialty beverages among foodservice operators. The application of cups and lids can be mainly witnessed in the foodservice industry, where they are used for serving different beverages to consumers such as hot drinks, coffee, milk and dairy products, sports and energy drinks, and alcoholic drink. Cups and lid demand will also be supported by the rising number of coffee shops worldwide and the continued popularity of coffee as a beverage consumed away from home.
Among cup types, the fastest gains are anticipated in the packaging cup segment due to favourable consumption trends in a number of applications, along with the convenience, portability, and portion control benefits of single serving cup packaging. Bio plastic materials for disposable cups and lids are been made fully compostable and recyclable, while still performing like petroleum-based plastic under heat and stress. Market research has shown most consumers want their takeaway coffee cups to be sustainable, and many agree on current options of environmental cost and avoid buying products using takeaway cups because of this.
Accrediting the colossal growth, the cups and lids market is witnessing currently and the potential the market is demonstrating to accrue pervasively further in the years to come; the Market Research Future has recently published a meticulous study report giving out the complete market insight up till 2023. According to which, continuing with the same trends the global cups and lids market is projected to perceive an outstanding growth by 2023 registering a striking CAGR during the anticipated period (2017 – 2023).
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Cups and Lids Market – Competitive Analysis
Cups and Lids Market appears to be highly fragmented and competitive owning to the presence of numerous large and small players active in regional market. The key strategies traced from the analysis of recent developments of the key players include Product Launch, Agreement & Partnership, Acquisition and expansion. Strategic partnerships between Key players support the growth and expansion plans of the key players during the forecast period. On the product and sales side, companies are investing in innovation/R&D, brand building, and fostering strong relationships with customers to support their competitive position.
Cups and Lids Market – Segments
For the convenience of the report and enhanced understanding; The Cups and Lids Market is segmented in to 4key dynamics
Segmentation by Product Type- Cups, Lids and others
Segmentation by Material Type – Paper & Paperboard, Plastic, Metal and others
Segmentation by Application- Food & Beverage, Foodservice, Retail and others
Segmentation by Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
Cups and Lids Market – Regional Analysis
The global bakery ingredients market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). North America is dominating the market followed by Europe. Asia Pacific is the fastest growing region for cups & lids market in which emerging markets of India and China are the major contributors. Rising living standards and the rapidly growing number of limited service restaurants for packaged food and beverages in cups and using lids are boosting the market towards market. The highest growth rates are expected in India and China, followed by Indonesia, Russia, Brazil, and Mexico. In contrast, market maturity in developed countries will moderate overall growth. Still, demand in the US, Western Europe, Japan, and other developed areas will be supported by the greater use of relatively expensive biodegradable, compostable, and recycled- content products.