Berry Global Group, Inc. [NYSE: BERY] revealed that it has decided to grow its foodservice packaging manufacturing operations in North America as part of its long-term strategic growth commitments. Foodservice brand owners are gradually growing their projected volumes with Berry production for access to the firm’s 30-plus active patents across clear cups and lids.
More than $110 million financings of Berry Global will grow its patented and industry-leading polypropylene thermoforming capabilities to produce clear drink cups and lids for quick-service restaurants, coffee shops, convenience stores, and other foodservice markets. The clear design has met the growing need for a cup that disclosed a premium brand image and beverage appeal.
Furthermore, it also enhances restaurant operation efficiencies while providing a more sustainable packaging option. Recently, Berry has witnessed that customized plastic cup and lid brand owner solutions are a rapidly growing market trend, pulling volume from the alternative substrates since 2017. Hence, Berry proved its market leadership, beating market trends increasing its sales by a projected 60%.
In addition to this, the growing capacity of Berry will also back future production of clear cups and lids that include post-consumer resin and recyclable materials, in which Berry continues to invest. It has been disclosed that the North American expansion is anticipated to be functional in 2022. It will add 200 new jobs at Berry facilities that will be announced soon.