World demand for cups & lids to exceed $30 billion in 2019
Global demand for cups and lids is projected to increase 5.2% per year to $30.2 billion in 2019. Demand is determined primarily by the size of the quick service restaurant (QSR) market and the production of packaged processed foods. As a result, the US has historically held a significant share of the global total. However, going forward, the Asia/Pacific region will offer one of the fastest rates of growth due to continued gains in developing markets such as China and India. Central and South America and the Africa/Mideast region will also post above average growth, while a declining population will hold down gains in Eastern Europe. These and other trends are presented in World Cups & Lids, a new study from The Freedonia Group, Inc., a Cleveland-based industry research firm.
The foodservice market, especially the QSR segment, is growing rapidly worldwide, especially in developing countries. Historically, most developing nations have not been significant markets for disposable cups and lids. However, analyst Mike Richardson notes, “As Western-style fast food restaurants become more prevalent, use of disposables will also become more widespread.” While QSR outlets continue to proliferate nearly everywhere in the world, demand for disposable cups and lids will not advance commensurately in all locations. While disposables are generally used in the vast majority of QSR establishments in the US, elsewhere in the world they have been typically reserved for takeout/takeaway patrons.