Cups And Lids Packaging Global Market Report 2024

Cups and lids packaging refers to a system comprising containers and their corresponding covers, primarily used for storing and serving beverages and food items. This packaging solution is engineered to offer convenience, hygiene, and portability for both hot and cold drinks, as well as various types of foods.

The primary product categories in cups and lids packaging include cups and lids themselves. Cups are containers made from materials such as foam or polymer, designed primarily for holding beverages or food items, serving both single-use and reusable purposes. These containers are crafted from materials such as paper, plastic, and other substances, suitable for a variety of applications in both food and non-food sectors.

The cups and lids packaging market research report is one of a series of new reports that provides cups and lids packaging market statistics, including cups and lids packaging industry global market size, regional shares, competitors with a cups and lids packaging market share, detailed cups and lids packaging market segments, market trends, and opportunities, and any further data you may need to thrive in the cups and lids packaging industry. This cups and lids packaging research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

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 observed in the historical period can be attributed to several factors, increased consumption of beverages, expansion of quick-service restaurants, the rise of single-serve and takeaway culture, growth in food delivery services, and increasing urbanization trends.

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 projected growth in the forecast period can be attributed to several factors, rising demand for personalized and tailored packaging solutions, increasing popularity of specialty beverages, growing emphasis on sustainability in packaging, expanding market for fast food, and heightened demand for eco-friendly cups and lids. Key trends expected in this period include advancements in technology, adoption of digital printing technologies, development of smart packaging solutions, utilization of biobased plastics, and innovation in lid designs.

The cups and lids packaging market is poised for growth driven by increasing demand in the food and beverage industry. Food and beverages encompass essential consumables, including both solid and liquid nourishment, sought after for sustenance and enjoyment. This industry's expansion is fueled by shifting consumer preferences, globalization, technological advancements, the rise of e-commerce, health and wellness trends, sustainability initiatives, and regulatory influences. Cups and lids packaging plays a crucial role within the food and beverage sector, enhancing convenience, safety, and customer satisfaction, while also providing opportunities for branding and promoting sustainability. For example, the Australian Bureau of Statistics reported in May 2021 that sales of food and non-alcoholic beverages reached 15.1 million tons in the fiscal year 2021-2022, marking a significant increase from 14.8 million tons in the previous fiscal year of 2020-2021. This underscores how the growing demand within the food and beverage industry is stimulating the cups and lids packaging market.

Key companies in the cups and lids packaging sector are focused on innovation, particularly in developing recyclable packaging solutions to maintain competitiveness. Recyclable packaging products are crafted from materials that can be efficiently collected, processed, and re-manufactured into new products, thus supporting environmental sustainability efforts and reducing waste. For instance, Novolex Holdings Inc., a leading US-based packaging company, introduced food packaging recyclable containers in August 2023. These containers are made from eco-friendly materials such as biodegradable plastics, recycled paper, and plant-based fibers, ensuring they can be easily recycled through standard systems. They are designed to preserve the freshness and quality of desserts and baked goods, offering moisture-resistant and airtight properties.

In October 2021, Pactiv Evergreen Inc., also based in the US, acquired Fabri-Kal Corporation for $380 million in cash to bolster its presence in the food packaging market. This strategic acquisition enhances Pactiv Evergreen's product portfolio and manufacturing capabilities within the disposable food service materials sector. Fabri-Kal Corporation specializes in innovative plastic cups, containers, and lids, aligning well with Pactiv Evergreen's expansion strategy.

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.

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.

The countries covered in the cups and lids packaging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The cups and lids Packaging market consists of sales of disposable cups, reusable cups, straws, insulated cups, and customized packaging. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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