The disposable cups and lids market in food and beverage industry is expected to grow by USD 856.26 million during 2021-2025, expanding at a CAGR of almost 6%. The report also throws light on the impact of the COVID-19 pandemic on the market and the new opportunities and challenges market players can expect. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.
The report offers a detailed analysis of the impact of the COVID-19 pandemic on the market in optimistic, probable, and pessimistic forecast scenarios.
Download: Analysis on Disposable Cups and Lids Market characteristics in food and beverage industry
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Disposable Cups and Lids Market in Food and Beverage Industry: Growth of the Global Commercial Foodservice Market to Drive Growth
The growth of the global commercial foodservice market is a major driver boosting the growth of the disposable cups and lids market in food and beverage industry. The commercial foodservice market includes takeaway food, ready-to-eat food, and the food served by QSRs. The global commercial foodservice market is growing due to the changing lifestyle of people. The growing working population leads to a lack of time for regular household chores like cooking, which raises the demand for QSRs. QSRs are one of the fastest-growing segments of the global commercial foodservice market. Most foodservice providers are looking for low-cost, eco-friendly cups and lids to ensure sustainable business operations. This will lead to the growth of the disposable cups and lids market in food and beverage industry.
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As per Technavio, the growth of the global commercial beverage dispenser market will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2021-2025.
Disposable Cups and Lids Market in Food And Beverage Industry: Growth of the Global Commercial Beverage Dispenser Market
Growth of the global commercial beverage dispenser market is also driving the growth of the disposable cups and lids market in food and beverage industry. Beverage dispensers are commonly found in restaurants, convenience stores, and concession stands. Many beverage companies are introducing innovative dispensing machines that offer self-service options to the consumer with a wide variety of choices.
The growing popularity of placing beverage dispensers by branded beverage manufacturers in commercial places such as offices and malls is further boosting the sales volume of beverages. Some beverage dispensers have attached disposable cup dispensers for the customer's convenience. This growth in the global commercial beverage dispenser market is expected to drive the demand for disposable cups, straws, and lids.
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Disposable Cups and Lids Market in Food and Beverage Industry: Segmentation Analysis
This market research report segments the disposable cups and lids market in food and beverage industry by Type (Plastic, Paper and fiber, and Others) and Geography (North America, APAC, Europe, South America, and MEA).
38% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for disposable cups and lids market in food and beverage industry in APAC. Market growth in this region will be faster than the growth of the market in other regions. The economic development and increasing consumer spending on food and beverages will facilitate the disposable cups and lids market in food and beverage industry growth in APAC over the forecast period.
Some of the key topics covered in the report include:
Market Challenges
Market Drivers
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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