Global cups and lids demand may top €27bn by 2019
Global demand for cups and lids is projected to increase annually by 5.2% annually to reach $30.2bn (€27.8bn) by 2019, according to a study by a US research firm.
The findings from the Freedonia Group see the Asia/Pacific region as offering 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 would also post above-average growth, while a declining population will hold down gains in Eastern Europe, the report suggested.
Analyst Mike Richardson said: “As Western-style fast food restaurants become more prevalent, use of disposables will also become more widespread.”
Outside the US market, the largest applications for cups and lids in food processing will remain instant noodles (particularly in Asia) and yogurt (particularly in Europe).