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.”
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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).
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