Cup Lids Market – High pace-growth of food industry, large consumer base, increasing disposable income makes the Asia Pacific highly attractive
Cup Lids Market: An Overview
The demand for disposable cups market is surging across the globe due to its hygienic, lightweight, and convenient nature, which is expected to create a positive environment for the growth of global cup lids market. Manufacturers from the variety of raw material such as plastic, paper/paperboard, foam and metal, cup lids are widely used to prevent the products from spilling and getting adulterated from external contamination. Thus, the cup lids are broadly accepted in the end uses such as the food service industry, coffee and tea, dairy products, soft drinks, fruit juices, and others. Cup lids with well-positioned hole vertically at the base of product reservoir ease to liquid flow freely and its vertical orientation keeps it from splashing out. Cup lids also help to insulate cup containing a hot or cold beverage. Cup lids are recyclable which is likely to create an optimistic outlook for the growth of the global cup lids market during the forecast period.
Cup Lids Market: Dynamics
The healthy growth rate of food and beverages industry is in turn driving growth of allied sub-sectors that includes foodservice disposables. Changing consumer preference for takeaway food is growing, owing to the evolving lifestyles, rising disposable income. Such factors are expected to create significant demand for cup lids market during the forecast period. The increasing popularity of coffee, fruit juices, dairy products, and others across the globe, coupled with rising concern for hygienic and convenience disposable packaging solution is expected to push the growth cup lids market.
The exceptional characteristics of cup lids such as leak-resistance snap-fit applications and easy removal, smooth rolled rims for a safe, comfortable surface, printable surface for branding, light-weight and cost-effective nature is expected to drive the demand of cup lids market during the forecast period. However, the heavy competition among the cup lids manufacturers is expected to hamper the growth of the global cup lids market during the forecast period. Manufacturers of cup lids are focusing on product innovation to assist maximum consumer convenience, which helps them to gain consumer base. Overall, the global cup lids market is projected to expand with notable CAGR during the forecast period.
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Cup Lids Market: Segmentation
On the basis of material type, the cup lids market is segmented into:
- Polyethylene Terephthalate (PET)
- Polypropylene (PP)
- Polyethylene (PE)
- Polystyrene (PS)
- Poly lactic acid (PLA)
On the basis of product type, the cup lids market is segmented into:
- Cold Lids
- Hot Lids
- Specialty Lids
On the basis of diameter, the cup lids market is segmented into:
- Less than 50 mm
- 50 mm – 80 mm
- More than 80 mm
On the basis of end use, the cup lids market is segmented into:
- Food & Beverage
- Coffee and Tea
- Dairy Products
- Soft Drinks
- Alcoholic Drinks
- Fruit Juices
- Ice Creams
- Foodservice Industry
- Quick Service Restaurants
- Food Delivery Services
- Coffee Shops
Cup Lids Market: Regional Outlook
High pace-growth of food and beverage industry, large consumer base, increasing disposable income makes the Asia Pacific excluding Japan (APEJ) region highly attractive for the growth of cup lids market during the forecast period. China is expected to remain at the forefront regarding the market share of cup lids market, while India and ASEAN countries are likely to register healthy CAGR during the forecast period. Rapidly changing lifestyle, food habits and rapid expansion of foodservice industry are expected to create enormous growth opportunities for cup lids market in North America and Western Europe region. The Eastern Europe and Latin America are a significant shareholder of global cup lids market and projected to expand with noteworthy CAGR during the forecast period.
Cup Lids Market: Key Players
Examples of some of the key players operating in the global cup lids market are:
- Huhtamaki Group
- Mondi Group
- Amcor Limited
- Bemis Company, Inc.
- Stanpac Inc.
- LidWorks Co.
- Printed Cup Company
- Lollicup USA, Inc.
- Simply Lids
- Fabri-Kal Corporation
- Paper Cup Company
- Modi Sp. z o.o.
Cup Lids Market: Key developments & Trends
Some of the key trends are observed among the cup lids manufacturers are listed below:
- LidWorks Co. manufacturer of cup lids received an award of “Excellent” from SAI Global Services and now is certified “Food Safety Code” for Food Packaging.
- Simply Lids is one of the prominent cup lids manufacturers won an award for design and functionality in Coffee Fest and was nominated for an Edison Design Award.
- Cup lids manufacturers are channelizing their efforts to offer best lid design to that meet customer’s need, fulfill an operational requirement, enhance the consumer experience, and meet evolving market demand. To make their product stand-out manufacturers also opting for embossing printing.
- Various Manufacturers of cup lids such as LidWorks Co. and Simply Lids are aiming to deliver high quality disposable hot and cold lids at a very competitive price.