The global biodegradable lids market is set to reach a valuation of US$ 241.6 Million in 2022, and further expand at a CAGR of 5.6% in the forecast period from 2022 to 2032. The market is projected to reach a valuation of US$ 416.6 Million by the end of 2032.
The biodegradable lids market has been gaining significant traction in recent years due to the growing demand for sustainable and eco-friendly packaging solutions. Biodegradable lids are made from plant-based materials that are capable of decomposing naturally, reducing the amount of waste that ends up in landfills.
The global biodegradable lids market is expected to grow significantly in the coming years due to increasing government regulations to reduce plastic waste and the growing awareness among consumers regarding the harmful impact of plastic on the environment. Additionally, the rise in demand for sustainable packaging solutions from various industries such as food and beverage, cosmetics, and healthcare is also expected to drive market growth.
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The global foodservice market is dominated by unorganized players, but with the rapidly increasing expansion of the organized foodservice sector, the market is slowly shifting its dynamic and leaning towards a revolution to give rise to a more structured market. Overall, the expanding foodservice industry would fuel the demand for biodegradable lids.
Competitive Landscape: Biodegradable Lids Market
- Huhtamaki Oyj,
- Stora Enso Oyj,
- Zume Inc.,
- Liplid AB, and
- Pactiv LLC
are the key players operating in the biodegradable lids market? Also, some of the noticeable players in the market are
- Be Green Packaging,
- Packnwood, Renewables LLC,
- Meshline Manufacturing Inc.,
- Scandicore AB,
- Transcend Packaging Ltd., and
- WorldCentric among others.
Key Takeaways from Biodegradable Lids Market
- By material, the paper segment is projected to account for around 62% of the biodegradable lids market value share by the end of 2022.
- Based on end use, the foodservice outlets segment is expected to grow 1.7x the current market value during 2022-2032.
- Europe biodegradable lids market currently accounts for 28% of the total market share across the globe.
- The global biodegradable lids market witnessed a CAGR of 4.8% during the historical period between 2015 to 2021.
- Germany is estimated to hold around 22% of the Europe biodegradable lids market share by the end of 2022.
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“The sudden surge in the number of food service outlets is fueling the demand for biodegradable lids. These outlets are focusing on attracting customers by showcasing unique and sustainable packaging solutions for their beverage products. Overall, the global biodegradable lids market is anticipated to bolster at a fast pace during the forecast period.” – says an FMI analyst.
Demand for Spill-proof Cups with Biodegradable Lids to Burgeon in the Forecast Period
Biodegradable lids are currently being made available by many major players. These are made to ensure a tight fit to the cup, reducing the likelihood of leakage. For the consumer to enjoy the product without worrying about leaks or spills, biodegradable lids are carefully crafted and snap-locks are put within the cup.
For instance, fiber lids from Zume Inc. are made to perfectly snap-lock onto coffee cups. Their ability to prevent spills is becoming more and more popular in the online food delivery industry as a large number of restaurants and cafes look for packing materials that enable leak-free product delivery.
This increases sales of fiber lids in the online food delivery sector. Overall, spill prevention benefits provided by biodegradable lids would create a new growth opportunity for numerous market players during the assessment period.
Biodegradable Lids Market Outlook by Category
By Material:
- Paper
- Plastic
- Others (Bagasse, Seawood, etc.)
By Diameter:
- Less than 60 mm
- 60-80 mm
- Above 80 mm
By End User:
- Foodservice Outlets
- Online Food Delivery
- Institutional
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa
- Oceania
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