)--The global disposable cups and lids market in food and beverage industry is expected to post a CAGR of almost 7% during the period 2020-2024, according to the latest market research report by Technavio. https://www.technavio.com/talk-to-us'report=IRTNTR40850
As per Technavio, the increased demand for sustainability in business operations will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2020-2024.Global Disposable Cups and Lids Market in Food and Beverages Industry: Increased Demand for Sustainability in Business Operations
Growing environmental concerns and increasing stringency of regulations regarding the use of plastic have compelled many companies to look for alternatives to achieve sustainability in their business operations. This is increasing the use of biopolymers for various packaging applications such as lid stock, hot fill, overwraps, and frozen food packaging. During the forecast period, the use of bioplastic packaging is expected to gain traction among market players. This will have a positive impact on the growth of the global disposable cups and lids market.“Recyclability of aluminum foil containers and the increasing demand for modified atmospheric packaging will further boost market growth during the forecast period”, says a senior analyst at Technavio.Register for a free trial today and gain instant access to 17,000+ market research reports.
type (plastic and paper and fiber, and others) and geography (APAC, Europe, MEA, North America, and South America).
The North American region led the market in 2019, followed by APAC, Europe, South America, and MEA respectively. During the forecast period, North American is expected to witness maximum incremental growth due to the strong presence of established foodservice companies in the region.Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.