London, 11 May 2015: Technavio, the independent tech-focused global research firm, has published a report on the cups and lids market in US 2015-2019, which is expected to grow at a CAGR of 4.88 % during the forecast period of 2014-2019.
Companies have come up with specialty beverages like energy drinks, flavored water and ice-cream drinks, which is driving the market growth. Demand for specialty beverages is increasing and is expected to become a stand-alone product in the market.
“The adoption of biodegradable materials such as polyvinyl alcohol, polyanhydrides, and polylactic acid by the manufacturers of cups and lids will reduce the market share of conventional plastics over the next few years,” says Faisal Ghaus, Vice President of Technavio.
“Vendors are increasingly adopting biodegradable plastics as a substitute to avoid hefty penalties because of stringent environmental regulations.”
Key Market Drivers
- Increasing Demand for Specialty Beverages
- Increased Use of Fountain Drink Dispensers
- Increasing Demand for Dairy Products
- Consumer Convenience
Key Market Trends
- Increased Demand for Biodegradable Plastics
- Rise in Disposable Incomes
- Advances in Technology
- Need for Sustainability
Key Market Vendors
- Georgia-Pacific LLC
- Huhtamaki Group
- Solo Cup Operating Corp.
- Sonoco Products Company
- WinCup Holdings
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
