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.
In the United Kingdom, the food service and fast-food supply chain are playing a pivotal role in boosting sales of disposable lids. The disposable lids market in the UK is expected to maintain a steady compound annual growth rate (CAGR) of 4.6% during the forecast period. The Food and Drink Federation (FDF) reports that the food and drink industry is one of the largest manufacturing sectors in the UK, contributing a substantial US$ 33 billion to the country’s economy annually. This industry is a crucial part of the UK’s extensive US$ 135.4 billion ‘farm-to-fork food chain.’ The FDF’s economic reporting not only highlights the economic significance of the food and drink industry but also unveils potential growth opportunities and avenues for productivity improvements.
In India, the disposable lids market is poised for remarkable growth, with a significant CAGR of 7% anticipated over the forecast period. The country also holds a considerable share in the South Asia disposable lids market as of 2022. India’s demand for caps and closures is primarily driven by the beverage sector, and the burgeoning dairy industry is further boosting sales of caps and closures. According to the Food and Agriculture Organization (FAO), India’s total milk production in 2020 reached 195 million tons. The consistent rise in milk production, coupled with high demand for dairy and milk products, is fueling the sales of disposable lids in India. The disposable lids market in India is well-positioned for growth, thanks to these favorable market conditions.
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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.
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:
- North America 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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Key Players:
- Berry Global Inc.
- Huhtamaki Oyj
- Greiner Packaging International GmbH
- Dart Container Corporation
- Pactiv LLC
- Genpak, LLC
- Cambro
- Carlisle FoodService Products Inc
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.
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Disposable Lids Market by Category
By Material :
- Paper
- Plastic
- Polyethylene(PE)
- Polypropylene(PP)
- Polyethylene terephthalate (PET)
- Polystyrene(PS)
- Poly Lactic Acid(PLA)
- Others(PHA, Starch blends)
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
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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