The disposable lids market is expected to reach a valuation of US$ 5 billion by 2033, according to a new analysis published by Future Market Insights (FMI). The market is predicted to grow at a CAGR of 4.5% during the forecast period. It is anticipated that the market would grow to US$ 3.2 billion in 2023.
This estimation underscores a notable expansion in demand for disposable lids, reflecting evolving consumer preferences and increasing adoption across various sectors. The projected trajectory indicates a promising outlook for stakeholders, signaling opportunities for innovation, market expansion, and strategic investments in the coming years.
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.
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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:
- 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.
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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