Global spoon-in lid packaging market is expected to grow at a compound annual growth rate of 7.22% to reach a market size of US$460.779 million by 2024 from US$303.256 million in 2018. The growing innovation in packaging of products by manufacturers is a key factor responsible for the advent of spoon in lid packaging. The consumption of packed food and beverage is on a rise resulting in increased demand for packed products which is further expected to fuel the demand for spoon in lid packaging.
The growing preference for ready to eat products and easy to use packaging is also anticipated to boost the market for spoon in lid packaging during the forecast period. Moreover, the easy to use property of this packaging is projected to augment to demand for spoon in lid packaging market during the forecast period. Additionally, the use of eco-friendly and biodegradable materials is anticipated to widen-up the growth opportunities for the market during the forecast period. However, the growing regulations and environment concerns regarding the use of plastics is expected to hinder the market growth. Asia-Pacific is anticipated to hold a significant market share due to the rising consumption of packed foods and increasing food and beverage industry in the region. North America is also expected to be a prominent region.
Rising demand for packed foods
Growing dairy industry
Government rules and regulations regarding use of plastic
The major players profiled in the spoon-in lid packaging market include Fourmark Manufacturing, Parkers Packaging, Fairpoint Plastic, Greiner AG, Double H Plastics Inc., Constantia Flexibles, SP Containers, and Polyoak.
The spoon-in lid packaging market has been analyzed through the following segments:
Middle East and Africa