Global Cups with Lids Market Statistics, By Raw Material (Plastic, Paperboard, and others), Products (Cups and Lids), Application (Food & Beverage, Foodservice, Retail, and others), and Region - Forecast 2017-2023
Cups with Lids Market – Overview
The demand for food packaging materials has amplified due to consumers’ predisposition towards the specialty and processed food. Reports that judge the packaging and transport industry has been offered by Market Research Future, which generates reports on industry verticals that judge the market development and possibilities. The market is set to gain a formidable CAGR in the forecast period.
The packaged food and on-the-go food trends are anticipated to push the growth of the Cups with Lids Market in the coming period. The preference for smaller portions of products is expected to expand the reliance on the market for cups and lids. Moreover, the demand for quality yogurt packaging is expected to amplify the growth of the Cups with Lids Market.
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The notable contenders functioning in the cups & lids market globally are International Paper Company (U.S.), Clondalkin Group Holdings (The Netherlands), Airlite Plastics Company (U.S. ), Greiner Holding AG , Georgia-Pacific LLC (U.S.), Huhtamäki Oyj Reynolds Group Holdings Limited, PrintPack Inc. (U.S.), Bemis Company, Inc.(U.S.), WinCup (U.S.), Solo Cup Operating Corporation (U.S.), and Berry Global Inc.(U.S.) to name a few.
The segmental review of the Cups with Lids Market is conducted on the basis of material type, products, applications, and regions. On the basis of material type, the Cups with Lids Market is segmented into plastic, metal, paper & paperboard, and others. Based on the Products, the Cups with Lids Market are segmented into cups and lids. On the basis of application, the Cups with Lids Market is segmented into Foodservice, Food & Beverage, Retail, and others. On the basis of Regions, the Cups with Lids Market are segmented into the Americas, the Middle East, Europe, Asia Pacific, and Africa.
Detailed Regional Analysis
The regional assessment of the Cups with Lids Market is segmented into the Americas, the Middle East, Europe, Asia Pacific, and Africa. As per the study, the Asia Pacific region is anticipated to govern the cups & lids packaging market with the principal market portion. While the Cups with Lids Market in the U.S. is anticipated to touch USD 9.6 billion by 2020. The food trends that support convenience, compact packs and rising focus on specialty beverages are motivating the regional market development. A number of proposals across the globe support the usage of conventional cups and glasses. Furthermore, the growing sale of food and beverage in restaurants and retail stores, growing the percentage of drinking cups that are utilizing lids is anticipated to reinforce the market growth in the forecast period.
A burgeoning user base is expected to play an instrumental role in the progress of the market in the approaching period. The market has established a proper tone for the development that is to be undertaken in the upcoming period. The market players are crafting strategies that deliver a high output rate from existing resources or don’t require a massive investment to obtain. The assets are continually being assessed to ensure that functioning is at an optimum level while keeping breakdowns at a bare minimum. The market is also improving in several efforts to brace itself while fortifying its position against the slowdown in the global economy. Moreover, the emphasis is also being placed on the backend processes by integrating tools that can enhance the productivity of the market in the forecast period. The geopolitical factors are expected to play a critical role in the long-term expansion of the market in the upcoming period.
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