NEWARK, Del, March 13, 2023 (GLOBE NEWSWIRE) -- The global cup sleeves market was worth US$ 28.62 Billion in the year 2020 and is expected to reach US$ 45.82 Billion by the year 2032 at a CAGR of 4% between 2022 and 2032.
Paper disposable cups are witnessing an exponential demand in the present scenario. This could be attributed to raised standard of living coupled with an utmost need for sanitary beverages. Plus, restrictions regarding usage of plastics is another factor impacting the market.
There have been various campaigns running; which explain the importance of eliminating plastics from surroundings. Thus, plastic cup sleeves would be witnessing a total boycott in the next few years. In a way, it is a wake-up call for the manufacturers to concentrate on biodegradable cup sleeves.
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Individuals are shifting to 100% hygiene while traveling; especially in the post-Covid era. This attitude has actually resulted in a paradigm shift. In other words, ceramic and glass cups are being replaced by disposable paper cups. This minimizes the chances of infection and germs getting transferred from one user to the other.
SMEs do buy/gift things to their employees using customized cup sleeves. This helps in publicising the brand along with imparting a unique feeling in the employees. Many of them end up developing an emotional bond with the brand, which helps in their retention as well as word of mouth. Overall, it’s a win-win situation for both – employers and employees.
With an extensive demand for customized cup sleeves, various other materials like leather, wool are used for making them.
The tourism market is also growing by leaps and bounds. This prompts the local vendors to enchant more number of visitors through their cup sleeves bearing their trademarks.
At the same time, the fact that one could end up burning fingers and/or hands due to the thin material used for making disposable cups can’t be ignored. This factor may restrain the cup sleeves market in the forecast period.
Future Market Insights has walked through these facts with future perspectives in its latest market study entitled ‘Cup Sleeves Market’. It has its team of analysts and consultants deploying a bottom-up approach along its macros and micros.
“With the end-consumers turning out to be all the more conscious regarding choice of tableware for any meal, the global cup sleeves market is likely to grow on a remarkable note in the years to come”, says an analyst from Future Market Insights.
Key Takeaways from Cup Sleeves Market
- North America holds a significant market share due to the populace preferring hoteling and traveling.
- Europe holds the second largest market share, followed by the Asia-Pacific, LATAM, and MEA along the similar lines.
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Competitive Sleeves
The key participants are executing the idea of advertising on the coffee cup sleeves. This, in turn, makes way for promotion of their brand along with cost-effectiveness, extended exposure time, and a wide reach. They could also check user counts through the QR codes on cup sleeves. Personalized cup sleeves are being asked for in the wake of rapid industrialization. Some of the players in cup sleeves market include Xuancheng Bo Site Commodity Co, DOBI Ltd., and several unorganized and local ones.
What does the Report say?
- The research study is based on material (plastic, paper & paperboard, and rubber), by product type (shrink sleeve and protective sleeve), and by end-user (food & beverage vertical, hotels & restaurants, cafes & kiosks, Quick Service Restaurants, and canteens).
- With increase in the end-customers’ spending power, the global cup sleeves market is slated to grow atrociously in the upcoming period.
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
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About the Packaging Division at Future Market Insights
The packaging division at Future Market Insights provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, and packaging machinery to packaging designs & formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 1,000+ reports, the team has analysed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.
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