Global cups and lids market: Introduction
Changing lifestyle of consumer contributes significantly to their consumption habits. The modern fast-paced lifestyle has led many people to prefer on-the-go consumption of products such as beverages. Therefore, there is a high demand for packaging solutions which protect liquid content from spillage, while on the move. Cups and lids come in handy and are highly effective in preventing spillage and maintaining the temperature of the content. Cups and lids are in high demand, and are widely preferred for beverages such as coffee, tea, soft drinks, and fruit juices, among others.
Global cups and lids market: Dynamics
One of the key drivers for the growth of the global cups and lids market is the growing demand for specialty beverages such as soups, iced tea, and oatmeal. Also, cups & lids are widely used for beverages such as coffee and other fruit juices. Cups & lids are widely used to serve beverages in quick service restaurants and to wrap the hot drinks in cups and lids. The growth in penetration of quick service restaurants, especially in the emerging economies, is expected to be the key driver for the growth of the global cups and lids market during the forecast period.
The leading player of cups and lids market are majorly focusing on developing innovative cups and lids “Huhtamaki Group” has launched smart cup in the market, that cup can interact with the smartphone by scanning label. This label provides brief information about the content. Therefore, such innovative solution increases consumer’s preference over other packaging products.
The key trend of cups and lids market, the manufacturers prefer renewable and compostable material such as polylactic acid (PLA) over traditional petroleum plastics. Also, cups and lids produced by bioplastic material have beneficial features, such as they can withstand at a high temperature of 200 0 F and are compostable, thus does not end up in oceans or cause a landfilling issue.
The methodology used to track the consumption of cups and lids market is described below:
Global cups and lids market: Segmentation
The global cups and lids market is segmented into product type, material type and end use
On the basis of product type, cups and lids market is segmented into:
- Virgin cups and lids
- Recycled cups and lids
On the basis of material type, cups and lids market is segmented into:
- Polyethylene (PE)
- Polystyrene (PS)
- Polypropylene (PP)
- Poly lactic acid (PLA)
- Paper & paper board
On the basis of end use, cups and lids market is segmented into:
- Food & Beverage products
- Dairy products
- Hot beverages
- Soft drinks
- Alcoholic Drinks
- Sauces & dressings
- Bakery & confectionery
- Fruit Juices
- Dairy products
- Food services
- Quick Service Restaurants
- Coffee & Snack Shops
- Food Delivery Services
Tier 1 analysis: This segment includes the leading players of the cups and lids market such as Huhtamaki Group, Mondi Consumer Packaging GmbH (Mondi Group), Zhejiang Pando EP Technology Co.,Ltd , Amcor limited, Bemis Company, Inc. Fabri Kal, and others
Tier 2 analysis: This segment includes the emerging players of cups and lids market such as Toplas Plastic Products Co., Ltd., Hangzhou Everich Houseware Co., Ltd, Yuhuan Hongta Plastic Industry Co., Ltd, Yiwu Green Commodity Co., Ltd. (Plastic) and others
Global cups and lids market: Regional Overview
The global cups and lids market is segmented into seven key regions –
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan
- Middle East & Africa (MEA)
In Europe region, prominent players of the market are majorly focusing in production cups and lids made up of recycled plastic, as recyclable plastics cups and lids reduce the landfilling issues. The U.S, leads in the consumption of cups and lids, in North America region. The Asia Pacific region is expected to witness abrupt growth during the forecast period. Major driving factor for the growth of cups & lids market is due to the increase in spending capacities of consumers of emerging economies such as China and India.
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