The global disposable lids market is forecasted to expand at 4.5% CAGR over the forecast period, as per FMI’s analysis. The industry’s size is predicted to surge from US$ 3.2 billion in 2023 to US$ 5.0 billion by 2033.
The disposable lids industry is anticipated to augur well over the assessment period. Prime factors augmenting the sales of disposable lids include the booming commercial food services industry.
Numerous manufacturers are experimenting to bring up cost-efficient and eco-friendly variants of disposable lids. This is expected to ensure business aligns with the evolving consumer demands. Additionally, the emergence of quick-service restaurants is also the result of shifting consumer preferences in light of hectic lifestyles and dual-income households.
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Presently, the rising buzz surrounding aluminum foil products due to their recyclability is expected to positively influence the market going forward. Growing perception regarding global warming and climate change among people is projected to catalyze demand for lids composed of aluminum foil. With the help of social media platforms and new channels, knowledge regarding disposable lids and the availability of sustainable materials is forecasted to rapidly increase.
Top Highlights from the FMI’s Analysis of the Disposable Lids Market:
- North America disposable lids industry is expected to hold 23.8% of the overall market share.
- From 2023 to 2033, Asia Pacific market is anticipated to notably grow owing to the thriving food service sector and the strong purchasing power of the inhabitants.
- Plastic material is expected to occupy 73.2% of the disposable lids industry in the years to come. The high prevalence of plastic lids is one of the primary factors propelling segment growth.
- Disposable lids find extensive application in cups and are expected to continue with the trend over the upcoming years.
- The offline segment is projected to seize a large share of the market over the forecast period. End users prefer to buy disposable lids in abundant quantities from the offline route for their business. As a result, the segment is expected to thrive in the upcoming years.
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The key manufacturers operating in the disposable lids market are focusing on increasing their production capacity to meet the increasing demand for disposable lids. Moreover, the key players are increasing their product portfolio to cater to the growing disposable lids market.
- In March 2021, Nestlé, a Switzerland food and beverage company, is adopting renewable-resource lids and scoops for certain of its early-year nutrition products. Sugar cane is used to make lids made from 66% sugarcane, and the scoops are made from 95% of sugar cane.
- In October 2021, with the development of a 100% recyclable paperboard lid, a collaboration between the Paper Lid Company and Metsä Board is intended to revolutionize the future of takeout beverage cups.
- Berry Global Inc.
- Huhtamaki Oyj
- Greiner Packaging International GmbH
- Dart Container Corporation
- Pactiv LLC
- Genpak, LLC
- Carlisle FoodService Products Inc.
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Disposable Lids Market by Category
By Material :
- Polyethylene terephthalate (PET)
- Poly Lactic Acid(PLA)
- Others(PHA, Starch blends)
By Application :
- Buckets & Tubs
By Product :
- Fully Closed
- Directly Drinkable
- Indirectly Drinkable
By End Use :
- Online Food Retail