Overview and Scope
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.
Sizing and Forecast
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 in the historic period can be attributed to increasing consumption of beverages, expansion of quick service restaurants, rise in single-serve and takeaway culture, expansion of food delivery services, and increasing urbanization.
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 growth in the forecast period can be attributed to the growing need for individualized and customized packaging solutions, growing demand for specialty beverages, increasing emphasis on specialty beverages, increasing popularity of fast food, growing use of environmentally friendly and sustainable materials, and increase in demand for eco-friendly cups and lids. Major trends in the forecast period include technological advances, digital printing technologies, smart packaging, biobased plastics, and innovative lid designs.
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Segmentation & Regional Insights
The cups and lids packaging market covered in this report is segmented –
1) By Product Type: Cups, Lids
2) By Material: Paper, Plastic, Other Materials
4) By Application: Food, Non-Food
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.
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Major Driver Impacting Market Growth
The rising demand for the food and beverage industry is expected to propel the growth of the cups and lids packaging market going forward. Foods and beverages encompass consumable items, including solid and liquid nourishment, typically consumed for sustenance and enjoyment. The food and beverage industry is increasing due to changing consumer preferences, globalization, technological advancements, e-commerce, health and wellness trends, sustainability initiatives, and regulatory factors. Cups and lids packaging is a fundamental component of the food and beverage industry, enhancing convenience, safety, and customer satisfaction while offering branding and sustainability opportunities. For instance, in May 2021, according to the Australian Bureau of Statistics, an Australia-based government agency, sales of food and non-alcoholic drinks reached 15.1 million tons in 2021–2022, a significant increase from the 14.8 million metric tons sold in the previous fiscal year of 2020–21. Therefore, the rising demand for the food and beverage industry is driving the growth of the cups and lids packaging market.
Key Industry Players
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.
The cups and lids packaging market report table of contents includes:
1. Executive Summary
2. Cups And Lids Packaging Market Characteristics
3. Cups And Lids Packaging Market Trends And Strategies
4. Cups And Lids Packaging Market – Macro Economic Scenario
5. Global Cups And Lids Packaging Market Size and Growth
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32. Global Cups And Lids Packaging Market Competitive Benchmarking
33. Global Cups And Lids Packaging Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Cups And Lids Packaging Market
35. Cups And Lids Packaging Market Future Outlook and Potential Analysis
36. Appendix
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