The cups and lids packaging from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Cups And Lids Packaging Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The cups and lids packaging market size has grown strongly in recent years. It will grow from $29.76 billion in 2023 to $32.19 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to increasing consumption of beverages, expansion of quick service restaurants, rise in single-serve and takeaway culture, expansion of food delivery services, and increasing urbanization.
The cups and lids packaging market size is expected to see strong growth in the next few years. It will grow to $45.07 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to the growing need for individualized and customized packaging solutions, growing demand for specialty beverages, increasing emphasis on specialty beverages, increasing popularity of fast food, growing use of environmentally friendly and sustainable materials, and increase in demand for eco-friendly cups and lids. Major trends in the forecast period include technological advances, digital printing technologies, smart packaging, biobased plastics, and innovative lid designs.
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Scope Of Cups And Lids Packaging Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Cups And Lids Packaging Market Overview
Market Drivers –
The rising demand for the food and beverage industry is expected to propel the growth of the cups and lids packaging market going forward. Foods and beverages encompass consumable items, including solid and liquid nourishment, typically consumed for sustenance and enjoyment. The food and beverage industry is increasing due to changing consumer preferences, globalization, technological advancements, e-commerce, health and wellness trends, sustainability initiatives, and regulatory factors. Cups and lids packaging is a fundamental component of the food and beverage industry, enhancing convenience, safety, and customer satisfaction while offering branding and sustainability opportunities. For instance, in May 2021, according to the Australian Bureau of Statistics, an Australia-based government agency, sales of food and non-alcoholic drinks reached 15.1 million tons in 2021–2022, a significant increase from the 14.8 million metric tons sold in the previous fiscal year of 2020–21. Therefore, the rising demand for the food and beverage industry is driving the growth of the cups and lids packaging market.
Market Trends –
Major companies operating in the cups and lids packaging market focus on developing innovative products, such as recyclable packaging products, to sustain their position in the market. Recyclable packaging products are materials designed to be processed and reused through recycling systems, reducing waste and conserving resources. These products are made from materials that can be collected, processed, and re-manufactured into new products, thus contributing to environmental sustainability. For instance, in August 2023, Novolex Holdings Inc., a US-based packaging company, launched food packaging recyclable containers. These packaging solutions are crafted from eco-friendly materials such as biodegradable plastics, recycled paper, and plant-based fibers, ensuring they can be quickly processed and reused through standard recycling systems. They are designed to maintain the freshness and quality of desserts and baked goods, with moisture-resistant and airtight properties.
The cups and lids packaging market covered in this report is segmented –
1) By Product Type: Cups, Lids
2) By Material: Paper, Plastic, Other Materials
4) By Application: Food, Non-Food
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Regional Insights –
North America was the largest region in the cups and lids packaging market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cups and lids packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the cups and lids packaging market are International Paper Company, Berry Global Inc., Graphic Packaging International LLC, Georgia-Pacific Consumer Products LP, Pactiv LLC, Huhtamäki Oyj, Reynolds Consumer Products Inc., Dart Container Corporation, Novolex Holdings Inc., The Brakes Group Limited, Solo Cup Company, Fabri-Kal Corporation, Airlite Plastics Co., WinCup Holdings Inc., Printpack Inc., Lollicup USA Inc., Koch Industries Inc., Seda International Packaging Group S.p.A., Eco-Products Inc., Polar Plastics Corporation, Dopla S.p.A., Kent Paper Inc., R+R Packaging Ltd.
Table of Contents
1. Executive Summary
2. Cups And Lids Packaging Market Report Structure
3. Cups And Lids Packaging Market Trends And Strategies
4. Cups And Lids Packaging Market – Macro Economic Scenario
5. Cups And Lids Packaging Market Size And Growth
…..
27. Cups And Lids Packaging Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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