Due to the rapid growth of significant economies brought on by globalization in recent years, the cup sleeves market is predicted to grow at a CAGR of 4% during the forecast period and reach a market share of US$ 45.82 billion in 2032 from US$ 28.62 billion in 2020.
The coffee house has been a traditional and evergreen place to interact between two people or more, with the change in time, the demand for disposable coffee cups has been growing along with the need of cup sleeves. Cup sleeves act as an insulator and thus allow the patron to protect their fingers from getting burnt, especially sipping hot beverages.
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In recent years, with the rise in purchasing power of people, users of paper disposable paper cups have amplified at an increasing level, so the demand for cup sleeves has been growing, so we can clearly state the fact that disposable coffee cups and cup sleeves supplements each other. The demand for hygienic beverages has increased, users are becoming circumspect in regards to their choice of tableware for any form of meal. Cup sleeve is from a family of ancient coffee cup holder “Zarf.”
Cup sleeves market: Dynamics
The swift progress of significant economies due to globalization in contemporary years, there is a rise of demand all over the hospitality industry, the increasing market of tourism leading to the progress of various dependent sectors, it will ultimately lead to the growth of cup sleeves market in forthcoming years.
An increase in disposable income of an individual is leading to a rise in spending on quality served food and especially on drinks. Specifically, during traveling and leisure time, visitors/ tourists prefer hygienic food and beverages. With the growing demand for biodegradable disposable products and keeping away from plastic disposables, one of the critical factor, this might ignite the growth of cup sleeves market at an international level.
Companies are coming with the concept of advertising on coffee cups sleeves; this gives them several advantages to promote their brand such as its cost effective, long exposure time and extensive reach, and with QR codes on cup sleeves they can track the user’s counts. The demand for attractive designed cup sleeves cups, especially for gifting purpose during festive seasons will be a new market in upcoming years. Consumers are more inclined towards customized cup sleeves for their usage; they are customizing cup sleeves that are made of wool, leather, and many other material types. The market of customized cup sleeves is trending in developed economies and has the massive potential of personalized cup sleeves in the market of emerging economies in recent years to come.
International regulatory bodies are coming with partial plastics bans. This step is an indication of the more utilization of disposable cups, and this will lead to more demand for cup sleeves market.
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Cup sleeves market: Regional Outlook
Countries in the Asia Pacific region are expected to represent substantial growth opportunities for the cup sleeves market owing to the emerging economies and can purchase a high-end product.
North America followed by Western Europe, is expected to create tremendous incremental opportunities for cup sleeves market, which could an attribute to high per capita consumption, especially during traveling and outside food in the region. The market of Africa and Latin America could be a key market for cup sleeves market in upcoming years
The disposable income of people from the emerging economies of the countries would lead to the growth of the market. The overall cup sleeves market is expected to have a progressive outlook and grow at a healthy CAGR in the coming years.
Cup sleeves market: Key Players
Some of the key players operating in the cup sleeves market are DOBI, Xuancheng Bo Site Commodity Co., Ltd. and many local and unorganized players are expected to contribute to the global cup sleeves market in recent upcoming years to come.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Regional analysis includes –
North America
Latin America
Europe
Middle East and Africa (MEA)
East Asia
South Asia
Oceania
Cup sleeves market: Segmentation
Globally, cup sleeves market segmented into many subsets.
Based on material type
Kraft paper
Coated paper
Based on cup Capacity
12 OZ Cups
16 OZ Cups
20 OZ Cups
22 OZ Cups
24 OZ Cups
Based on end uses
Food & Beverages Industry
Restaurants and Hotel Industry
Household & Offices
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Report Highlights:
A detailed overview of the parent market of cup sleeves market.
Changing market dynamics in the industry.
In-depth segmentation of the global cup sleeves market.
Historical, current, and projected size of the global cup sleeves market, regarding volume and value.
Recent industry trends and developments in cup sleeves market.
Competitive landscape in the global cup sleeves market strategies for key players operating in the protective fabrics and products offered by them.
Potential and niche segments, geographical regions exhibiting promising growth of paper souffle cup market.
A neutral perspective on performance of the cup sleeves market.
Must-have information for global cup sleeves market to sustain and enhance their market footprint.
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