LONDON--(BUSINESS WIRE)--The global disposable cups and lids market in the food and beverage industry 2018-2022 is expected to post a CAGR of close to 7% during the forecast period, according to the latest market research report by Technavio.
A key factor that is expected to drive the market is the growth of the global commercial foodservice market. The commercial foodservice market includes takeaway food, ready-to-eat food, and the food served by QSRs. The commercial foodservice market is growing due to the changing lifestyle of people and the rise in the number of dual-income households.
This market research report on the global disposable cups and lids (DCL) market in food and beverage industry provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the increasing demand for sustainable business operations as one of the key emerging trends in the global disposable cups and lids market in the food and beverage industry:
Global disposable cups and lids market in the food and beverage industry: Increasing demand for sustainable business operations
Growing environmental concerns among people and government organizations is increasing the focus on biopolymers, a renewable plastic material manufactured from biomass. Bio-films are largely used in various packaging applications such as lid stock, hot fill, overwraps, and frozen food packaging. The growing use of bioplastic packaging will compel DCL manufacturers to gradually shift to bioplastics.
“The adoption of bioplastic packaging will be slow and will take time to completely replace conventional plastics owing to numerous factors such as the volatility in the price of raw materials. Moreover, conventional plastics are readily available and far more economical than bioplastics,” says a senior market research analyst at Technavio.
Global disposable cups and lids market in the food and beverage industry: Segmentation analysis
This market research report segments the global disposable cups and lids market in the food and beverage industry by materials (plastic, paper and fiber, and others) and geographical regions (APAC, EMEA, and the Americas).
The Americas led the market in 2017 with a market share of close to 43%, followed by APAC and EMEA respectively. The market shares of all the three regions are expected to remain stable over the forecast period with very small variations, with the EMEA region exhibiting a higher incremental growth than the APAC region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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