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World demand for cups and lids still strong
World demand for cups and lids is projected to rise 5% per year to $23.4 billion in 2014, according to the latest study from The Freedonia Group Inc., a Cleveland-based industry market research firm. Factors contributing to rising demand will include growth in foodservice revenues and trends toward convenience-oriented food options as a result of fast-paced lifestyles and increasing personal income levels.
March 22, 2011
1 Min Read
Biodegradable, recyclable and recycled materials will be in big demand for cups and lids, and will post “robust advances” as consumers increasingly want eco-friendliness. This will put pressure on foodservice establishments and packaging producers to reduce their environmental footprint, especially in developed countries with more established environmental regulations.
The U.S. will remain the largest consumer of cups and lids in the world by a “wide margin” said The Freedonia Group’s report. In 2014, the U.S. will represent 35% of the global cup and lid market – down by only one percent from 2009. “This leading position stems from the U.S.’ large foodservice, and food and beverage packaging industries; greater use of more expensive cups and lids; trends favoring single-serving food cups; and the expanded specialty beverage offerings in quick service restaurants,” said the report. “Even though faster growth is expected in developing countries, the U.S. alone will still account for close to one-third of market value gains between 2009 and 2014.” —PlasticsToday Staff
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