Global demand for paperboard cups and lids is projected to increase 4.0% annually to $10.2 billion in 2022. Paperboard usage will continue to grow, in part because many of the faster growing markets – especially in the Asia/Pacific region – are more reliant on paper cups for foodservice and instant noodle packaging than foam cups, which have more of a market presence elsewhere. These and other trends are presented in Global Cups & Lids, a new study from The Freedonia Group, a Cleveland-based industry research firm.
Environmental concerns are leading a shift away from specific cup and lid materials, and single-use cups in general, among a variety of regional and foodservice markets. The North American market will remain the largest regional market – primarily due to the size of the quick service restaurant (QSR) and coffee/snack segments in the US. Growth in the Africa/Mideast and Central and South America regions will be above average, while the much larger Asia/Pacific market will be limited by a slowdown in the instant noodle segment.
Global demand for all types of cups and lids is projected to increase 3.9% per year to $32.4 billion in 2022. Growth will be driven by advances in foodservice and food processing activity and increased consumer spending rates. In developing markets, demand for cups and lids is being driven in part by the further penetration of large QSR and coffee chains.
Global Cups & Lids (published 09/2018, 313 pages, $6500). Please link any citations to https://www.freedoniagroup.com/industry-study/global-cups-lids-3656.htm. For further details or to arrange an interview with the analyst, contact Corinne Gangloff by phone 440.684.9600 or email [email protected].