World demand for cups and lids to reach $26 billion in 2017
World demand for cups and lids is projected to rise 5.0 percent per year to nearly $26 billion in 2017. Advances will be driven by above average gains for food and beverage packaging cups as well as a favorable outlook for global foodservice revenues. In particular, increases will be fueled by growth in the quick service restaurant industry, which will remain the primary user of disposable cups and lids. These and other trends are presented in World Cups & Lids, a new study from The Freedonia Group, Inc. (www.freedoniagroup.com), a Cleveland-based industry market research firm.
Foodservice will remain by far the largest cup and lid market, accounting for more than three-fifths of overall market value through 2017. While the large, established foodservice industry and market maturity in developed regions will prevent faster gains, several trends will bolster cup and lid demand. These include expanded beverage offerings in quick service and other restaurants, and the significant growth potential in countries with underdeveloped foodservice industries. Cup and lid demand will also be supported by the rising number of coffee shops worldwide and the continued popularity of coffee as a beverage consumed away from home. Moreover, value gains will be aided by the prevalence of costlier specialty lids in coffee and snack shops.