Global Disposable Cups and Lids Market in Food and Beverage Industry 2020-2024 | 7% CAGR Projection Through 2024 | Technavio
LONDON--(BUSINESS WIRE)--Mar 18, 2020--
The global disposable cups and lids market in food and beverage industry 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
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Technavio has published a latest market research report titled Global Disposable Cups and Lids Market in Food and Beverage Industry 2020-2024 (Graphic: Business Wire).
Factors such as product innovation and the introduction of new flavors by players in the dairy industry have increased the consumption of ready-to-eat dairy products such as buttermilk, fresh cream, ice cream, curd, yogurt, butter, and cheese. Growing global population and rising health awareness have further increased the demand for such products among consumers. These products are mostly packed in disposable sealed cups. 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 important trends and market drivers that will affect market growth over 2020-2024.
Global Disposable Cups and Lids Market in Food and Beverages Industry: Increased Demand for Sustainability in Business Operations
Growing environmental concerns and increasing stringency of regulations regarding 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.
“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: Segmentation Analysis
This market report segments the global disposable cups and lids market in 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, North American is expected to witness maximum incremental growth due to the strong presence of established foodservice companies in the region.
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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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CONTACT: Technavio Research
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KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: RETAIL CHEMICALS/PLASTICS HOME GOODS MANUFACTURING OTHER MANUFACTURING OFFICE PRODUCTS FOOD/BEVERAGE
SOURCE: Technavio Research
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PUB: 03/18/2020 03:00 PM/DISC: 03/18/2020 03:01 PM