The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Rising packaged food demand is likely to promote innovation in cup and lid production, propelling the market during the forecast period.

The global cups and lids market is expected to grow from $9.86 billion in 2022 to $10.78 billion in 2023 at a compound annual growth rate (CAGR) of 9.39%. The global cups and lids market size is expected to reach $15.08 billion in 2027 at a CAGR of 8.75%.

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 Global Cups And lids Market Segments Include:

• By Product: Cups, Lids
• By Raw Material: Plastic, Paperboard, Foam, Other Raw Materials
• By Application: Food And Beverage, Food Services, Retail, Other Applications
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global cups and lids market in 2021.

Major Market Players in the cups and lids market include Berry Global Inc, Greiner AG, Huhtamäki Oyj, WinCup Inc., Graphic Packaging International Inc, Reynolds Consumer Products, Eco-Products Europe, Dart Container Corporation.

Product innovation is a hot trend in the cups and lids market. Major market participants are focusing on developing unique goods with high-quality materials, customisable designs, enhanced functionality, and smart packaging. For example, in July 2022, SOFi, a US-based manufacturer of compostable paper SOFi Straws, introduced a 100% biodegradable cup that does not require a plastic cover. The new SOFi Cup Carrier is made of spunlace cotton, the same material as flushable wipes, and is recyclable, plastic-free, and bioplastic-free. It will biodegrade naturally in landfills, soil, or marine ecosystems in 180 days. It also has four flaps that fold together to form a spill-proof cover and can be used with any of SOFi’s paper straws, removing the need for a separate lid and saving businesses money.

The Cups And Lids Global Market Report 2023  provides a cups and lids market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The cups and lids market forecast analyzes cups and lids market size, cups and lids market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Cups are cylindrical containers designed to carry liquids with open tops and closed bottoms, whereas lids are covers that fit over cups to prevent spills and leaks.

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