Deerfield Beach, FL -- (SBWIRE) -- 10/28/2015 -- The Global Cups and Lids Packaging market is estimated to be $18.8 billion and is projected to grow at a Compound Annual Growth Rate (CAGR) of 11.15% to reach $43.82 billion during the forecast period 2014 to 2022. Plastic cups will confine the share of beverage applications and commercialization of recyclable insulated plastic cups. Paper hot cups, Polyethylene Terephthalate (PET) cups and specialty lids are the factors favoring the market growth. Outlook for food service revenues can be driven by means of average gain for packaging cups.
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Growing importance of specialty beverages amongst food service operators will be a key feature, with many services. Food service is expected to be the largest segment among the cup and lid market, during the forecast period. While the large, established foodservice industry and market maturity in developed regions will prevent faster gains, several trends will bolster cup and lid demand. The fastest growth will be seen in the food and beverage packaging market, reflecting advantages of convenience, portability, and portion control of food packaging cups.
Global Cups and Lids Packaging market is mainly segmented by material, by type, by application and by geography. Based on Material, the market is classified into plastic, paperboard, foil and metal. Based on Type, the market is categorized into cups and lids. Cups are further segregated into drinking cups, packaging cups, food cups and portion cups. Lids are further segmented into flexible lids. Based on Application, the market is segmented into hot beverages, soft drinks. Cups and Lids Packaging market, by geography the market is segmented into North America, Europe, Asia Pacific and Rest of the World. Asia Pacific has the largest market for cups and lids packaging.
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The key players in the Cups and Lids Packaging market include, Clondalkin Group, Holdings BV, Reynolds Group Holdings Limited, Bemis Company Incorporated, Winpak, International Paper Company, Greiner Holding AG, Printpack Incorporated, Genpak and Airlite Plastics Company.
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