Shanghai department store| Cups and LIDS Market Size and Share Analysis - Growth Trend and Forecast (2024-2029)

Lid market analysis

Shanghai department storeThe size of the lid market is expected to be 171 by 2024.$600 million and is expected to reach 202 by 2029.$900 million, with a CAGR of 3 over the forecast period (2024-2029).40%。

Rising consumption of tea, coffee, and soft drinks due to significant population growth is one of the key factors stimulating global demand for cups and LIDS。Booming food and beverage (F&B) The increasing demand for single-use packaging in the industry as well as in fast food restaurants (QSRS) to minimize the risk of leakage and spillover of different foods and beverages is having a positive impact on the market studied。The emerging trend of special occasion social gatherings is also driving global demand for disposable plates, cups, LIDS and other containers。

Due to the increased demand for specialty beverages such as coffee and milkshakes, the demand for cups and LIDS in the packaging industry has increased dramatically over the past few years。Important forces for market growth include the characteristics of cup and lid products, such as lightweight, smooth hem (comfortable and safe to use on a comfortable and safe surface), snap fit, easy removal, leak-proof application, and cost effectiveness。

Consumers often purchase convenient and functional beverages, such as ready-to-drink coffee and tea, energy drinks, and other beverages that can be consumed anytime, anywhere。Therefore, non-alcoholic beverages that offer functional and practical benefits that are relatively healthy and natural can appeal to busy consumers。Utilizing the natural, energy-enhancing properties of electrolytes, vitamins, minerals, and other natural ingredients in new product formulations can help brands target tired consumers。

The rise of urbanization has led to more and more consumers spending a lot of time away from home, visiting and traveling to social places, enjoying the great weather or attending sporting events。As a result, consumers drink more when they are in motion。In addition, plastic bans in various countries have hindered the growth of the market to some extent, but the recyclability of paper is one of the key factors driving the growth of the paper cup and paper lid market。These cups can be recycled indefinitely because they are made of paper。Manufactured according to environmental regulations, users can benefit from the cost advantages of packaging while eliminating disposal issues。It helps suppliers contribute to the Sustainable Development Goals through their products。

The food and beverage segment will see significant growth

According to the data observed by Shanghai Department Store, one of the most important drivers for the growth of the LIDS market is the growth of the global food and beverage industry, which is due to the increasing adoption of ready-to-eat food and beverages by more and more consumers on the go。In addition, the sector is complemented by other factors, such as an increase in population and per capita income and changes in lifestyles。

The food service industry is an important end-user industry with a significant market share in cups and LIDS。The growth of online food delivery services has increased the demand for food cups and portion sizes。

The fast food restaurant business is expected to expand significantly globally during the forecast period。The market expansion is primarily driven by changes in consumer preferences and an increase in the number of employees。Even in shopping malls, more than a third of customers come for food, not shopping。Most fast food restaurants serve hot and cold drinks in disposable paper cups。As a result, there is a huge demand for cups worldwide。

Major fast food chains such as KFC, Domino's, Starbucks, Pizza Hut and McDonald's are expanding their stores around the world due to huge demand for takeaway and ready-to-eat meals。For example, Starbucks, a purveyor of coffee with innovative cups and LIDS with customers' names written on them, has been increasing the number of stores for several years。

Asia is expected to account for the largest market share

The growth of the Asian market is driven by the food trend of consumers, who prefer convenient and smaller packages for single serving consumption, and an increasing focus on specialty beverages。In addition, the rapid evolution of people's lifestyles, changes in dietary habits, and growing demand for single-serving convenient packaging are other factors contributing to the market growth in this region。

The Shanghai Department Store Association observed that the development of coffee culture in China has been influenced by the widespread presence of chains like Starbucks that are popular with young people。They are the biggest consumers of the drink。Due to the continuous development of coffee culture, China's demand for coffee cups and coffee covers is increasing。

According to Starbucks data, in order to meet the demand and popularity of coffee culture, Starbucks has also seized the opportunity to increase the number of stores in China。The trend of constantly expanding infrastructure due to the rising demand trend makes the market for cup LIDS will continue to grow in the coming years。