What is Global Cups and Lids Packaging Market?
The Global Cups and Lids Packaging Market is a vast and dynamic sector that encompasses a wide range of products used for packaging purposes. These products include various types of cups and lids made from different materials, designed to meet the diverse needs of consumers worldwide. The market is driven by the increasing demand for convenient, portable, and eco-friendly packaging solutions. The global market for cups and lids packaging was valued at a significant US$ 26760 million in 2023. It is projected to reach an impressive US$ 38580 million by 2030, growing at a steady compound annual growth rate (CAGR) of 5.3% during the forecast period from 2024 to 2030.
Paper Type, Plastic Type, Other Type in the Global Cups and Lids Packaging Market:
The Global Cups and Lids Packaging Market is segmented based on the type of material used, namely Paper Type, Plastic Type, and Other Type. The Paper Type segment holds the largest market share, accounting for about 65.19% of the total market in 2019. This can be attributed to the growing consumer preference for sustainable and recyclable packaging solutions. The Plastic Type segment, on the other hand, is driven by the demand for durable, lightweight, and cost-effective packaging options. The Other Type segment includes materials like metal and glass, which are used for specific packaging needs.
Food, Drink in the Global Cups and Lids Packaging Market:
The Global Cups and Lids Packaging Market finds extensive application in the Food and Drink sectors. In 2019, the Drink sector accounted for about 55.95% of the total market usage. This is due to the increasing consumption of beverages like coffee, tea, juices, and soft drinks, which require convenient and portable packaging solutions. The Food sector also contributes significantly to the market, driven by the demand for takeaway and ready-to-eat meals, which require sturdy and leak-proof packaging.
Global Cups and Lids Packaging Market Outlook:
In terms of geographical distribution, the Asia-Pacific region dominated the Global Cups and Lids Packaging Market in 2019, accounting for about 34.91% of the total market. This can be attributed to the rapid urbanization and increasing disposable income in countries like China and India, which has led to a surge in the demand for convenient and portable food and beverage packaging solutions. Europe and North America followed closely, accounting for about 33.06% and 22.91% of the market respectively. These regions are driven by the high consumption of packaged food and beverages, coupled with the growing awareness about sustainable packaging solutions.
| Report Metric | Details |
| Report Name | Cups and Lids Packaging Market |
| Accounted market size in 2023 | US$ 26760 million |
| Forecasted market size in 2030 | US$ 38580 million |
| CAGR | 5.3% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Consumption by Region |
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| By Company | Huhtamaki, Graphic Packaging (International Paper), Koch Industries, Berry Global, Dart Container, Seda Group, Reynolds, Lollicup, Eco-Products, SCHISLER, Groupo Phoenix, Detmold Group, Far East Cup, Guangzhou Kangbao, Konie, Huixin, Kap Cones, Greiner, Genpak |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
