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.
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.
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Packaging Formats Covered:• Tubs• CupsMaterial Types Covered:• Polypropylene (PP)• Polyethylene Terephthalate (PET)• Polyethylene (PE)• PaperApplications Covered:• Bakery Products• Food Products• Dairy ProductsRegions Covered:• North Americao USo Canadao Mexico• Europeo Germanyo Franceo Italyo UK o Spaino Rest of Europe • Asia Pacifico Japan o China o India o Australia o New Zealand o South Korea o Rest of Asia Pacific• South Americao Argentinao Brazilo Chileo Rest of South America• Middle East & Africao Saudi Arabiao UAEo Qataro South Africao Rest of Middle East & Africa
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.
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