Global PET cup lids Market: Overview
The demand for food service disposable products has witnessed surging growth across the globe over the past two decades, owing to their lightweight, hygienic, and easy-to-carry nature. These factors are expected to create a positive outlook for the growth of the global PET cup lids market. PET cup lids are broadly used in the food service industry to avoid the adulteration of products from external contamination.
Global PET Cup Lids Market: Dynamics
To fulfill the operational requirements of beverage brand owners for them to be able to meet the budding market demand, the manufacturers of cup lids are channelizing their efforts to offer convenient and easy-to-use PET cup lids, which helps enhance the overall consumer experience. The exceptional characteristics of PET cup lids, such as lightweight, leak-resistance, easy-to-remove, and a cost-effective beverage packaging solution, is estimated to fuel the demand of PET cup lids over the forecast period. Moreover, cups & lids are effectively utilized by food service outlets for printing their brand logos to promote their brands.
Global PET Cup Lids Market: Key Developments & Trends
Some of the key trends are observed among the manufacturers of PET cup lids are:
- Lollicup USA has setup a state-of-the-art manufacturing plant featuring ILLIG thermoforming machines, a Reifenhauser extruder, four custom printing machines, and several other equipment for the manufacturing of products such as PP & PET plastic deli containers, cold cups, portion cups, and lids in Chino, California
- Key cup lids manufacturers, such as Simply Lids Inc. and LidWorks Co., aim at delivering state-of-art quality disposable cold & hot lids at reasonable prices
Global PET Cup Lids Market: Segmentation
The PET cup lids market is segmented based on their thickness and the end-use industry served.
PET cup lids market segmentation by diameter:
- PET cup lids less than 50 mm diameter
- PET cup lids 50 mm – 80 mm diameter
- PET cup lids with more than 80 mm diameter
PET cup lids market segmentation by application:
- PET cup lids for Hotels, Restraints & Cafes (HoReCa)
- PET cup lids for household purposes/home refrigeration
- PET cup lids for medical dispensary/chemist stores
PET cup lids market segmentation by sales channel:
- Supermarkets & hypermarkets
- Departmental stores
- Convenience stores
- Other small retail formats (grocery stores, etc.)
PET cup lids market segmentation by end-use industries served:
- Tea & coffee
- Dairy products
- Creams & ice creams
- Fruit juices
- Alcoholic beverages
- Cosmetics & personal care
- Homecare & toiletries
- Others (dyes, paints, adhesives, etc.)
Global PET Cup Lids Market: Regional Outlook
The global PET cup lids market has been segmented into 7 regions: Western Europe, Latin America, Asia Pacific Excluding Japan (APEJ), North America, Middle East and Africa (MEA), Japan, and Eastern Europe.
Although cup lids serve industries such as cosmetics & personal care, pharmaceuticals, food, homecare products, etc., beverages are a prominent end use-market for PET cup lids. North America is among the prominent markets for the food service industry, hence, the market for food service disposables in the region has witnessed continuous growth over the past two decades. With a large number of food & beverage processing plants set-up in U.S., the PET cup lids market is estimated to grow at a steady pace. Europe as well as certain parts of Latin America are key exporting regions for milk & dairy products across the globe. Hence, the demand for PET cup lids in these regions is expected to witness strong growth over the forecast period. With the continuously growing food & beverage industry, coupled with a large consumer base and increasing disposable income in the Asia Pacific region, the food service disposables market is expected to witness lucrative opportunities over the forecast period.
Thus, summarizing the aforementioned factors, the market for PET cup lids is projected to witness a healthy rate of growth during the forecast period.
Global PET Cup Lids Market: Key Players
Some of the important manufacturers presently operating in the global PET cup lids market are:
- Aptar Group Inc.
- Berry Global, Inc.
- Silgan Holdings Inc.
- Huhtamaki Group
- Mondi Group
- Amcor Limited
- Bemis Company, Inc.
- Global Closure Systems
- BERICAP GmBh & Co. KG
- Evergreen Packaging Inc.
- Dart Container Corporation
- EcoPack Limited
- Sabert Corporation
- Sam's Club, Inc.
- MPM Marketing Services
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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