Global Cups And Lids Market Report 2023: Forecast Market Size, Growth Rate And Key Drivers
23 Jun, 2023
The global cups and lids market size is expected to grow from $9.86 billion in 2022 to $10.78 billion in 2023 at a compound annual growth rate (CAGR) of 9.39%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global cups and lids market size is expected to reach $15.08 billion in 2027 at a CAGR of 8.75%.
Global Cups And Lids Market Key Driver
The rising demand for packaged foods is projected to drive the expansion of the cups and lids market in the coming years. Enclosing food goods to protect them from tampering or contamination from physical, chemical, and biological sources, such as snacks and pre-packaged food items, meat and vegetables in preserved, canned, frozen, and other forms, is referred to as packaged food. Cups and lids offer a hygienic packaging solution for food, aiding in the preservation of freshness, the reduction of waste, and the enhancement of the customer experience, particularly for single-serve sizes and on-the-go consumption.
Get a sample of the global cups and lids market reportGlobal Cups And Lids Market Segments
The global cups and lids market is segmented:
1) By Product: Cups, Lids
2) By Raw Material: Plastic, Paperboard, Foam, Other Raw Materials
3) By Application: Food And Beverage, Food Services, Retail, Other Applications
4) By Geography: The regions covered in the cups and lids market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions, North America accounts for the largest share in the global cups and lids market.
Major Cups And Lids Industry Players
Berry Global Inc, Greiner AG, Huhtamäki Oyj, WinCup Inc., Graphic Packaging International Inc, Reynolds Consumer Products, Eco-Products Europe, Dart Container Corporation, Chengdu Anbao Paper Products Co Ltd, Printpack Inc., Tomy Company Ltd, CEE Schisler Packaging Solutions, Grupo Phoenix Capital Limited, Far East Cup Product (SZ) Co. Ltd., Guangzhou Kangbao Co Limited, Konie Cups & Lids, Changzhou Huixin Industrial Co Ltd, Kap Cones Private Limited, Genpak LLC
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Cups And Lids Market Overview
Cups are containers designed to hold liquids that are cylindrical shaped with open tops and closed bottoms, while lids are covers that fit over cups to prevent spills and leaks.
Cups And Lids Global Market Report 2023 provides data on the global cups and lids market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The cups and lids market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.