CLEVELAND (Aug. 30, 1 p.m. ET) – U.S. demand for cups and lids will increase about 4.1 percent annually to reach $8.9 billion in 2016, according to a new report.
Growth drivers include specialty beverages like premium coffee, specialty coffee drinks, iced coffee and smoothies sold by quick-service restaurants.
The report “Cups & Lids,” from Cleveland-based Freedonia Group Inc., says the fastest gains will come in the packaging cup segment, due to demand for products such as yogurt, coffee and tea, and fresh fruits and vegetables. The increased presence of oatmeal in quick service restaurants also will push demand.
Lid demand growth will outpace that of cups, rising 4.9 percent per year to $1.2 billion in 2016.
The 304-page report costs $5,100.