NEWARK, DE / ACCESSWIRE / April 18, 2023 / The global disposable lids market is forecasted to expand at 4.5% CAGR over the forecast period, as per FMI's analysis. The industry's size is predicted to surge from US$ 3.2 billion in 2023 to US$ 5.0 billion by 2033.
The disposable lids industry is anticipated to augur well over the assessment period. Prime factors augmenting the sales of disposable lids include the booming commercial food services industry. Companies are Striving to Reshape the Future of Takeaway Beverage Cup Lids by Introducing Sustainable and Functional Disposable Lids Solutions.
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Numerous manufacturers are experimenting to bring up cost-efficient and eco-friendly variants of disposable lids. This is expected to ensure business aligns with the evolving consumer demands. Additionally, the emergence of quick-service restaurants is also the result of shifting consumer preferences in light of hectic lifestyles and dual-income households.
Presently, the rising buzz surrounding aluminum foil products due to their recyclability is expected to positively influence the market going forward. Growing perception regarding global warming and climate change among people is projected to catalyze demand for lids composed of aluminum foil. With the help of social media platforms and new channels, knowledge regarding disposable lids and the availability of sustainable materials is forecasted to rapidly increase.
Top Highlights from the FMI's Analysis of the Disposable Lids Market:
- The North American disposable lids industry is expected to hold 23.8% of the overall market share.
- From 2023 to 2033, Asia Pacific market is anticipated to notably grow owing to the thriving food service sector and the strong purchasing power of the inhabitants.
- Plastic material is expected to occupy 73.2% of the disposable lids industry in the years to come. The high prevalence of plastic lids is one of the primary factors propelling segment growth.
- Disposable lids find extensive application in cups and are expected to continue with the trend over the upcoming years.
- The offline segment is projected to seize a large share of the market over the forecast period. End users prefer to buy disposable lids in abundant quantities from the offline route for their business. As a result, the segment is expected to thrive in the upcoming years.
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Market News to Keep Up-to-date with Present Developments:
- In October 2021, Metsä Board and The Paper Lid Company, a Finnish startup, came into a long-term collaboration. This collaboration led to the introduction of a 100% recyclable paperboard lid. This is a remarkable feat by both of these companies, who have transformed the future of takeaway beverage cups in its true sense. The resulting beverage cup lids are sustainable and functional. The lid also has a great potential for branding as the paperboard is easy to emboss with lettering and logos, as opposed to the expensive route plastic lids take.
In February 2023, Liplid, a Stockholm-based firm that develops sustainable and unique cup lids for beverages on the go, announced a new drinking experience. The company aims to provide a safe, best, and most pleasant way to drink on the go. The lid is a functional solution catering to the rising demand for alternatives in light of the widespread ban being implemented on single-use plastics
Enlisted below are the Disposable Lids Manufacturers in the Market
- Berry Global Inc.
- Huhtamaki Oyj
- Greiner Packaging International GmbH
- Dart Container Corporation
- Pactiv LLC
- Genpak, LLC
- Cambro
- Carlisle FoodService Products Inc.
- Airlite Plastics Co.
- Cosmoplast
- Polyethylene (PE)
- Polypropylene (PP)
- Polyethylene terephthalate (PET)
- Polystyrene (PS)
- Poly Lactic Acid (PLA)
- Others (PHA, Starch blends)
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Disposable Lids Market by Category
By Material:
- Paper
- Plastic
By Application:
- Cups
- Trays
- Containers
- Tumblers
- Buckets & Tubs
- Bowls
By Product:
- Fully Closed
- Directly Drinkable
- Indirectly Drinkable
By End Use:
- Online Food Retail
- Household
- Institutional
- Offices
- Theaters & Malls
- Quick Service Restaurant
- Cafes
- Ice cream Parlor
- Foodservice Outlets
By Distribution Channel:
- Online
- Offline
- Hypermarket
- Supermarket
- Convenience Stores
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
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Table of Content
1. Executive Summary | Disposable Lids Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Material, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Material, 2023 to 2033
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The packaging division at Future Market Insights provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, and packaging machinery to packaging designs & formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 1,000+ reports, the team has analysed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.
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