LONDON--(BUSINESS WIRE)--The global disposable cups and lids market in the food and beverage industry market is expected to post a CAGR of almost 7% during the period 2020-2024, according to the latest market research report by Technavio. Request a free sample report
Product innovation and the introduction of new flavors by players in the global dairy market has increased the demand for ready-to-eat dairy products such as buttermilk, fresh cream, ice creams, curd, yogurt, butter, and cheese. These products are mostly packed in disposable sealed cups. Factors such as the growing global population and rising health awareness have significantly increased the demand for dairy products. Therefore, the increasing consumption of dairy products will have a positive impact on the growth of the global disposable cups and lids market.
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As per Technavio, the increased demand for sustainability in business operations will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will affect market growth over 2020-2024.
Global Disposable Cups and Lids Market in Food and Beverages Industry Market: Increased Demand for Sustainability in Business Operations
Growing environmental concerns and increasing stringency of regulations pertaining to the use of plastic have compelled many companies to look for alternatives to achieve sustainability in their business operations. This is increasing the use of biopolymers for various packaging applications such as lid stock, hot fill, overwraps, and frozen food packaging. During the forecast period, the use of bioplastic packaging is expected to gain traction among market players. This will have a positive impact on the growth of the global disposable cups and lids market in the food and beverage industry.
“Recyclability of aluminum foil containers and the increasing demand for modified atmospheric packaging will further boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Disposable Cups and Lids Market in Food and Beverages Industry Market: Segmentation Analysis
This market report segments the global disposable cups and lids market in the food and beverage industry market by type (plastic, and paper and fiber, and others) and geography (APAC, Europe, MEA, North America, and South America).
The North American region led the market in 2019, followed by APAC, Europe, South America, and MEA, respectively. During the forecast period, the North American region is expected to maintain its dominance over the market. This is due to the strong presence of established foodservice players in the region.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic comparison
- Key leading countries
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
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