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Cups and Lids Market - Forecast on Market Dynamics, Emerging Trends, Growth Factors
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One of the key drivers for the growth of the global cups and lids market is the growing demand for specialty beverages such as soups, iced tea, and oatmeal. Also, cups & lids are widely used for beverages such as coffee and other fruit juices. Cups & lids are widely used to serve beverages in quick service restaurants and to wrap the hot drinks in cups and lids. The growth in penetration of quick service restaurants, especially in the emerging economies, is expected to be the key driver for the growth of the global cups and lids market during the forecast period.
The leading player of cups and lids market are majorly focusing on developing innovative cups and lids “Huhtamaki Group” has launched smart cup in the market, that cup can interact with the smartphone by scanning label. This label provides brief information about the content. Therefore, such innovative solution increases consumer’s preference over other packaging products.
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The key trend of cups and lids market, the manufacturers prefer renewable and compostable material such as polylactic acid (PLA) over traditional petroleum plastics. Also, cups and lids produced by bioplastic material have beneficial features, such as they can withstand at a high temperature of 200 0 F and are compostable, thus does not end up in oceans or cause a landfilling issue.
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