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Global Spoon In Lid Packaging Market: Significant Growth Opportunities in Europe to Propel Growth

Press release Description

Albany, New York, March 8, 2018: A new research study titled “Spoon In Lid Packaging Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2026” has recently been added to the database of Market Research Reports Search Engine (MRRSE). The report projects the global spoon in lid packaging market to grow at a CAGR of nearly 20% and reach a valuation of over US$ 1.5 Bn by the end of 2026.

According to the report, the global demand for spoon in lid packaging is likely to witness staggering growth owing to a range of broader and industry-specific factors. On a broader level, increasing preference for ready-to-eat foods is a key factor that is driving the demand for convenient packaging. This in turn, is likely to drive the demand for spoon in lid packaging during the assessment period.

Demand for spoon in lid packaging is also expected to grow on account of innovation in the manufacture of such types of packaging. Technological advancement has led to a reduction in the cost of spoon in lid packaging, which has led to wider adoption among end-users. These factors are likely to provide an impetus to growth during the assessment period.

The report divides the global market of spoon in lid packaging market into various segments which are application, material type, packaging format and region. The application segment is further sub-segmented into dairy products, food products, bakery products and others. On the basis of material type segment, the global market is categorized into Polyethylene, Paper, Polypropylene, Polyethylene and others. The packaging format segment bifurcates the global market into cups and tubs. Region wise, the global market is divided into key regions which are North America, Europe, Latin America, Asia Pacific Excluding Japan, Middle East and Africa and Japan.

By material type, polyethylene (PE) is likely to remain one of the most widely used materials for spoon in lid packaging. The report projects this segment to grow at nearly 20% CAGR during the assessment period. The polyethylene (PE) segment is likely to surpass a valuation of nearly US$ 500 Mn by the end of 2026.

By application, dairy product segment is projected to maintain its dominance during the assessment period. The demand for spoon in lid packaging in the dairy industry is likely to grow at over 21% CAGR during the assessment period.

Europe is the largest market for spoon in lid packaging, and the report projects the region to grow at over 19% CAGR during the assessment period. Increasing popularity of packaged food items is a key factor driving the growth of the market in the region.

Some of the key companies profiled in the report are Polyoak, ITC Packaging, Fourmark Manufacturing, Coveris, Fairpoint Plastic, SP Containers, Plasticos Regina, RPC Group, Greiner and Parkers Packaging.

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