The Heat Sensitive Cups market is anticipated to reach a valuation of US$ 87.0 million in 2023 and grow at a CAGR of 5.0% to reach US$ 141.9 million by the year 2033, according to research from Future Market Insights. The top 5 suppliers are expected to occupy 10–20% of the global market in 2023 thanks to the heat-sensitive cups.
Based on the material, it is anticipated that the ceramic segment will continue to dominate the other materials used to make heat-sensitive cups. Ceramic is preferred because it helps heat-sensitive cups provide more sensible service for heat protection measures thanks to its capabilities of heat resistance. The segment is anticipated to account for about 75.3% of the market by 2033
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Many manufacturers use this feature as a means to enhance brand awareness, and therefore, heat sensitive cups enjoy high preference among brands. In order to achieve this graphical sensitivity, a commodity which is used is heat sensitive paint. These cups are readily used by consumers and are highly preferred as presents. New varieties of heat sensitive cups are ovenable, which is anticipated to increase preference for heat sensitive cups, in the market, over the forecast period.
Global Heat Sensitive Cups Market: Dynamics
The availability of an extensive variety of heat-sensitive cups, and their customizability boost the growth of the global heat-sensitive cups market. Brand owners these days offer heat-sensitive cups in various deals to increase product awareness and sell their own products. Heat-sensitive cups also function as an effective tool for marketing, and increased use of these cups is anticipated in the near future. Heat-sensitive cups also find applications as business gifts by companies.
The growth of e-commerce in the past decade has enabled increased sales of heat-sensitive cups. Global packaging industry has undergone significant transformation over the past decade leading to an absolute need for customization. Heat sensitive cups market has witnessed rapid developments in recent years. New innovations such as digitally enabled heat-sensitive cups fueling the heat-sensitive cups market. The use of heat-sensitive printing over different cups provides a secure and eye-catching communication tool and thus adds a new usage in its applications list.
Despite the largely positive outlook, there are certain disrupting factors, which might hamper growth of the global heat sensitive cups market, over the forecast period. This might include new varieties of cups, which might become a trend. Another factor that might hamper growth of the global heat sensitive cups market include stringent environmental policies regarding the use of certain raw materials. For instance, France recently banned the use of plastic cups.
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Global Heat Sensitive Cups Market: Regional Outlook
Geographically, the heat sensitive cups packaging market is segmented into
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific (excluding Japan)
- Japan
- Middle East & Africa (MEA).
North America, Western Europe, Eastern Europe and Japan have a very saturated market as there is relatively high penetration of ‘on-the-go’ food consumption habit, in these regions. As a result, it is expected that there will be moderate growth in the heat sensitive cup market in these regions. Rest of the regions, which include Latin America, Middle East, Europe and Asia Pacific (excluding Japan) are expected to expand at a healthy CAGR over the forecast period, with the increase in the number of consumers adopting on-the-go eating trend.
Global Heat Sensitive Cups Market: Key Players
Few of the key players operating in the global heat sensitive market are – Dexsim (M) Sdn Bhd, Shenzhen Yong Rui Bianse Arts & Crafts Co., Ltd, Huhtamaki Group, Shenzhen Sunsky Technology Limited, Shenzhen Yongfeng Ceramics Co. Ltd and Profun International Co., Ltd.
Regional analysis includes
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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, macro-economic 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.
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Global Heat Sensitive Cups Market: Segmentation
On the basis of raw material type, the global heat sensitive cups market can be segmented as:
- Ceramic heat sensitive cups
- Stoneware porcelain heat sensitive cups
- Plastic heat sensitive cups
On the basis of product type, the global heat sensitive cups market can be segmented as:
- Customized or personalized cups
- Conventional cup
On the basis of end use, the global heat sensitive cups market can be segmented as:
- Commercial institutions
- Retail outlets
- Offices
On the basis of capacity, the global heat sensitive cups market can be segmented as:
- <200ml,
- 200ml-400ml
- 400ml-600ml
- >600ml
Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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