The global cups and lids market size reached USD 19.92 billion in 2023 and is projected to hit USD 61.37 billion by 2033, expanding at a CAGR of 11.91% during the forecast period from 2024 to 2033.
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Due to the increased set-up and installation of intelligent vending machines for beverages, the demand for cups and lids has risen, which is estimated to drive the growth of the global cups and lids market over the forecast period.
Key Takeaways
- By region, North America dominated the global cups and lids market in 2023.
- By region, Asia Pacific is expected to grow at a significant rate in the market during the forecast period.
- By material, the plastic segment held the largest share of the market in 2023.
- By material, the paper segment is estimated to show significant growth in the market over the forecast period.
- By products, the packaging cups & other cups (portion cups and food cups) segment is expected to grow at significant rate during the forecast period.
- By end user, the food & beverage segment dominated the market in 2023.
- By end use, the food service industry segment is expected to witness significant growth in the market over the forecast period.
An open-top receptacle for holding liquids for pouring or drinking is called a cup. While primarily intended for drinking, it can also be used to hold solids (such as sugar, flour, grains, and salt) in preparation for pouring. A beaker lacks a handle or stem, but cups can be constructed of glass, plastic, china, ceramics, wood, metal, stone, bone, pottery, polystyrene, aluminum, or other materials. Cups are typically attached with handles or other adornments. Many cultures and socioeconomic classes use cups to relieve their thirst, and different types of cups might be used for different beverages or in different contexts.
Differently styled cups can be used for a variety of beverages or other meals (such as teacups and measuring cups), in a variety of settings (such as at water stations or during ceremonies and rituals), or simply as decorative pieces. A coffee cup is a mug used to serve coffee and other beverages containing coffee. There exist three primary categories: traditional cups accompanied by saucers, mugs served without saucers and single-use cups. Most mugs and cups have a handle. Take-out disposable paper cups are frequently used with an insulating coffee cup sleeve, while they can occasionally feature fold-out handles.
A lid, often known as a cover, is a component of a container that acts as a closure or seal, usually closing the object completely. Lids can be put on bigger lids for drums and open-head pails, as well as smaller ones for tubs. Certain lids feature a tamper-evident band or security strip to keep the lid firmly in place until the opening is required or approved. They typically imply that the container has been opened and is irreversible. They can be constructed from a variety of materials, such as metal or plastic. The global packaging market size is estimated to grow from USD 1.20 trillion in 2022 to reach an estimated USD 1.58 trillion by 2032, growing at a 3.16% CAGR between 2023 and 2032.
Growth Factors
The emerging cups and lids market is expected to drive the growth of the global cups and lids market over the forecast period.
Increasing focus on cost reduction and production efficiency can drive the specialty market growth further.
Increasing adoption of advanced technology for the production of cups & lids is estimated to drive the growth of the global cups and lids market in the near future.
Increasing regulatory support is estimated to drive the growth of the global cups and lids market over the forecast period.
Increasing demand for degradable paper cups and lids is estimated to drive the growth of the market over the forecast period.
The key players operating in the cups and lids market are focused on adopting inorganic growth strategies like mergers, which are expected to drive the growth of the market in the near future.
Market Dynamics
Driver
Increased launch and demand for seasonal and specialized drinks
The rise in the demand for seasonal and specialized drinks has increased the need for cups & lids, which is expected to drive the growth of the global cups and lids market over the forecast period. In the packaging industry, the need for cups and lids has sharply expanded in recent years due to the growing demand for specialized drinks, such as coffee and milkshakes. The features of cup and lid goods, such as their cost-effectiveness, snap fit, ease of removal, leak-resistant applications, and lightweight, smooth rolling rims that are safe and comfortable to use on a pleasant surface, are significant drivers of market expansion.
- On January 03, 2024, Starbucks Corporation, a multinational chain of coffeehouses and roastery reserves, announced the launch of the iced hazelnut oat milk shaken espresso and the return of the pistachio cream cold brew and pistachio latte on public demand. Along with the beverages, Starbucks coffeehouses even launched a new food menu: vanilla bean custard danish and potato, cheddar & chive bakes on the winter menu.
Restraint
Certain limitations and concerns about environmental safety
The limitations for the use of plastic and increasing concerns about environmental safety can restrict the growth of the cups and lids market to a certain limit. The production of a single styrofoam cup emits roughly 33g of CO2. That represents the same as traveling around a tenth of a mile. As paper cups are waterproofed on the inside with a thin plastic covering, disposable paper cups are a common example of single-use plastic products. Paper cups usually wind up in landfills or are disposed of incorrectly, adding to the amount of (micro)plastic trash and perhaps contaminating the world’s oceans.
- In June 2023, according to the data published by the National Centers for the Biotechnology Information, it was estimated that due to the disposable cups, the plastic and paper accumulations have increased, which has been found to be hazardous for nature.
Every year, the U.S. manufactures over 3 million tons of polystyrene. Additionally, 80% of it—including roughly 25 billion cups annually—ends up in the trash. This means that around one-third of the landfill space is occupied by the stuff. Polystyrene takes around 500 years to decompose into waste.
The U.S. produces about 21 million tons of CO2 annually from the production of polystyrene, which is roughly the same as the emissions from 4.5 million cars.
Globally, paper cups are consumed at an astounding rate; in the U.K. alone, 7 million cups are consumed every day, resulting in an annual production of 30,000 tonnes of waste paper cups.
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