The global PET dome lids market is anticipated to reach a valuation of US$ 14.4 billion in 2023, driven by convenience and on-the-go lifestyles. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 7.5% between 2023 and 2033, and reaching a total valuation of approximately US$ 29.6 billion by 2033.
PET dome lids, also known as PET (Polyethylene Terephthalate) plastic dome lids, are a type of lid or cover commonly used in the food and beverage industry. These dome-shaped lids are typically made from PET plastic, which is a transparent, durable, and recyclable material. They are designed to fit securely over various types of containers, such as disposable cups, bowls, or trays.
One of the major factors contributing to the growth of the PET dome lids market is the visual appeal and branding. The transparent nature of PET dome lids has made them a favorite choice for brands looking to showcase the visual appeal of their products. PET dome lids provide an unobstructed view that can entice and engage consumers, whether it’s displaying the vibrant colors of fresh fruits or the rich texture of baked goods. The visual appeal is essential for effective branding and marketing strategies.
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PET Dome Lids Market Segmentation:
By Material:
- Polyethylene terephthalate (PET)
- Polystyrene (PS)
- Polypropylene (PP)
- Others
By Design:
- Without Cavity
- With Cavity
By End Use:
- Ready-to-drink Beverages
- Cupcakes and Cakes
- Fruits
- Salads
By Sales Channel:
- E-commerce
- Retailer
- Hypermarket
- Supermarket
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa
Key Takeaways from the Market Study
- Global PET dome lids market was valued at US$ 13.4 billion by 2022-end.
- From 2018 to 2022, the market demand expanded at a CAGR of 3.5%.
- North America is expected to hold a dominant CAGR of 7.4% during the forecast period.
- By material, polyethylene terephthalate segment is expected to constitute a CAGR of 7.4% in 2033.
- On the basis of end use, ready-to-drink beverages segment is expected to dominate the market with a CAGR of 7.4% in 2033.
- From 2023 to 2033, PET dome lids market is expected to flourish at a CAGR of 7.5%.
- By 2033, the market value of PET dome lids is expected to reach US$ 29.6 billion.
“Sustainability and eco-friendly packaging, across the globe, is a major factor that is expected to propel the growth of the PET dome lids market in the near future,” remarks an FMI analyst.
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Competitive Landscape:
Key players in the PET dome lids market are strongly focusing on profit generation from their existing product portfolios along while exploring potential new applications.
The players are emphasizing on increasing their PET dome lids production capacities, to cater to the demand from numerous end use industries. Prominent players are also pushing for geographical expansion to decrease the dependency on imported PET dome lids.
Recent Developments:
- In 2023, Tair Chu Enterprise announced the launch of its new “Smart Lid” line of PET Dome Lids that can be tracked and traced using RFID technology.
- In 2023, Pactiv announced the acquisition of the PET Dome Lids business of a leading manufacturer in Europe.
- In 2022, Sabert Corporation launched a new line of PET Dome Lids with a new printing technology that allows for more creative and informative designs.
Key Market Players:
- MPM Marketing Services
- Berry Global Inc.
- EcoPack Limited
- Sam’s Club, Inc.
- Georgia-Pacific LLC
- Sabert Corporation
- Dart Container Corporation
- Amhil Europe
- Aveco Packaging
- YESECO
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Region-wise Insights:
Easy Availability of Low-Cost Personalized Lids to Uplift the Sales of PET Dome Lids in North America
The high demand for PET dome lids in the beverage industry, especially in Canada and the United States is set to bode well for the North America market. The increasing usage of these lids to close bottles for storing juices, soda, and beer is anticipated to fuel the growth.
The easy availability of relatively low-cost personalized lids backed by the presence of many new entrants in this region is another crucial factor that is projected to accelerate the market. The growing number of restaurants providing home delivery and takeaway services across the United States is estimated to augment the growth. The region is expected to hold a CAGR of 7.4% over the analysis period.
Growing Number of Fast-Food Chains to Increase PET Dome Lids Sales in Asia Pacific:
The increasing number of fast-food chain outlets in emerging economies, such as India and China is anticipated to augur well for the Asia Pacific PET dome lids market share in the assessment period. The ever-increasing population in these countries and their busy lifestyles are also set to influence the growth in this region.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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