Spoon in Lid Packaging Market Forecasts to 2028 – Global Analysis By Packaging Format (Tubs, Cups), Material Type (Polypropylene, Polyethylene, Paper), Application (Bakery Products, Food Products, Dairy Products), and By Geography
According to Stratistics MRC, the Global Spoon in Lid Packaging Market is accounted for $521.63 million in 2020 and is expected to reach $2,493.62 million by 2028 growing at a CAGR of 21.6% during the forecast period. Some of the key factors propelling the market growth include rising demand for convenience packaging in the food industry, growing dairy industry, surge in the intake of frozen foods, use of spoon in lid packaging for ice-creams, desserts, and yogurts, and rise in the online retail activities. However, government rules and regulations regarding use of plastic are restricting the market growth.
Spoon in lid packaging includes spoon that is a component of the lid that is used in the packaging of food items. The new idea of this packaging is flattering very popular globally as a result of increase in the intake of food items from restaurants, hotels, and fast food firms. Spoon in lid packaging items are produced by using recyclable goods. They are popular among the millennial population across the world. In essence, this packaging offers convenience to the end consumers and improves the shelf appeal of food products in retail stores.
By material type, the paper segment is expected to register significant growth rate during the forecast period, due to the increasing demand for organic and biodegradable packaging solutions across the globe.
Based on the geography, North America region is projected to be the fastest-growing market for spray drying equipment, owing to the developed economy, growing number of food manufacturers being receptive towards the concept of a spoon in lid packaging to boost the sale of their product offerings in retails stores, and increase in developments in the food & beverages industry in the region.
Some of the key players in Spoon in Lid Packaging Market include Coveris, SP Containers, Polyoak, ITC Packaging, Fairpoint Plastic, Parkers Packaging, Greiner, Fourmark Manufacturing, RPC Group, Majors Group Australasia Pty Ltd, Plasticos Regina, Constantia Flexibles Group GmbH, Innocent Packaging Limited, and Double H Plastics.
Estimated Market Size in 2020:
USD 521.63 million
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 2,493.62 million
Tables, Graphs & Figures
Packaging Format, Material Type, and Application.
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
Packaging Formats Covered:
Material Types Covered:
• Polypropylene (PP)
• Polyethylene Terephthalate (PET)
• Polyethylene (PE)
• Bakery Products
• Food Products
• Dairy Products
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Spoon in Lid Packaging Market is majorly driven by the growing out-of-home consumption of food products, rise in the online retail activities and thriving ecommerce sector, surge in the intake of frozen foods, and increase in the online retail activities.
The polyethylene (PE) segment is growing at a highest CAGR owing to the rising consumption of the material in North America and Asia Pacific and ease of processing and considerable savings in manufacturing costs.
Europe dominated with a significant market share due to the high growth of the dairy sector in this region, increasing popularity of single-serve convenience, and rising popularity of packaged food items across the region.
North America market is growing at a highest CAGR owing to growing number of food manufacturers being receptive towards the concept of a spoon in lid packaging to boost the sale of their product offerings in retails stores.
Key players in Spoon in Lid Packaging Market include Coveris, SP Containers, Polyoak, ITC Packaging, Fairpoint Plastic, Parkers Packaging, Greiner, Fourmark Manufacturing, RPC Group, Majors Group Australasia Pty Ltd, Plasticos Regina, Constantia Flexibles Group GmbH, Innocent Packaging Limited, and Double H Plastics.
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