Bizizz Market Research has recently published a research report, “Disposable Lids Market By Material Type (Plastic, Paper, board/Paper, Foam and Metal), Product type (Cold lids, Hot lids and Specialty lids), Diameter (Less than 50 mm, 50 mm to 80 mm and More than 80mm), Component, and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2027”.
As per the report, Global Disposable Lids Market was valued at US$ XX Bn in 2018 and it is anticipated to reach a market value of US$ 3.7 Bn by 2027, witnessing a CAGR of 4 % during the forecast period. Key drivers of the market are increasing preference for bio-degradable lids coupled with stringent government regulations are the prominent factors stimulating its market demand.
The global market of disposable lids is exponentially expanding mainly by the foodservice chains and huge expenditure by the food industry are a few key factors supporting the growth of the disposable lids market. Increasing demand for fast food products in different geographies coupled with supporting the growth of the market. Greater concentrations for environmental sustainability are the key factors propelling its market growth. Additionally, disposable lids are offered in different shapes and sizes along with a lesser cost. The prices are affordable for disposable lids that are attracting end-users industries including café and quick restaurant owner, food retailers, and others. Growth in the demand of affordable disposable lids by the food and beverages manufacturing companies along with other end users are fueling its market growth.
The Disposable Lids market is anticipated to register a CAGR of over 4% during the forecast period.
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By Material, Paperboard segment held a key share in Global Disposable Lids Market in 2018.
The paper and paperboard disposable lids are leading in the disposable lids market and are growing at a fast pace. The general demand for disposable lids that are made up of paper and paperboard supports considerably for its growth globally. Raising demand for disposable lids made up of paper and paperboard market of various products significantly generates lucrative opportunities globally for disposable lids producers for gaining considerable market demand. The paper cup has the fastest growth and is reflecting environmental problems regarding the foam cups being restricted to the polystyrene foam disposable and putting pressure from the environmental group.
North America is Anticipated to Dominate the Global Disposable Lids Market during the Forecast Period
The North American market has greater purchasing power and shifting lifestyle of different various countries especially in the developing economies of the Asia Pacific region are boosting the demand of the disposable lids market.China is anticipated to remain constant at the market demand for disposable lids, while India is expected to have a healthy CAGR during the forecast period. Moreover, a shift in the behavior, eating habits and steady expansions of the foodservice industry are anticipated to boost its market opportunities for the disposable lids market in North America and Western Europe. Increased growth in online food ordering and food packaging is anticipated to stimulate the growth of disposable lids in the global market.
Global Disposable Lids market was moderately consolidated with key players accounting for a significant share in 2018. The companies are being involved in the collaboration and investments for offering innovative products and create competency in the global market.
Prominent players operating in the Global Disposable Lids Market are Huhtamaki group, Mondi group, Amcor Limited, Bemis Company, Stanpac Inc., Printed cup company, Simply Lids, Fabri-Kal corporation, LidWoks co., among others.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
b) Impact on value chain and supply chain and strategies adopted to off set its impact
c) Impact on Industry / company revenue and predictive intelligence on forecast sales
d) In-depth analysis on market segmentation – both value and volume analysis
e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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