The market for insulated cup sleeves is predicted to reach a worth of US$ 35 billion by 2033, growing at a CAGR of 4.8% from 2023 to 2033. The market is anticipated to reach a market value of US$ 21.9 billion in 2023. From 2018 to 2022, the Insulated Cup Sleeves market experienced expansion at a CAGR of 3.9%.
In 2021, the global demand for insulated cup sleeves grew by 4% year over year (YoY), according to recently released data from insulated cup sleeves Market Analysis. While the coated paper material segment increased by 3%, the kraft paper material segment increased by 5%.
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Insulated Cup Sleeves Market: Market Outlook
Insulated Cup Sleeves, are the circular or cylindrical sleeves that perfectly fit over the paper cups which are handle-less, in order to encase user’s hands from hot items. Being composed out of single Grade PE or Double PE coated, they help in reflecting heat back to the cup.
These insulated cup sleeves are versatile, recyclable, lightweight and have great strength to encounter any kind of damage. This “cup and sleeves arrangement” reduces the thermal contact and minimizes the transfer of heat.
Insulated cup sleeves are not only limited to protection of the product, but also prove to be a budget friendly option to customers. Considering these properties in mind, the demand for insulated cup sleeves market is anticipated to increase steadfastly, with a value CAGR of nearly 4%.
Key Market Players of the Insulated Cup Sleeves Market
- Xuancheng Bo Site Commodity Co
- KeepCup
- Printed Cup Company
- Huhtamaki Oyj
- Graphic Packaging International
- HÖRAUF
Key Market Players in Asia-Pacific of Paper Masking Tapes Market
- Anantsai Shrink Polymer
- KAPGROUP
- Juang Jia Guoo Co., Ltd.
- Huaining Yinuo Paper Products Co., Ltd.
- Viekotech Limited
- Changsha Mingkai Paper And Plastic Products Co., Ltd.
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What strategies are the Key Players adopting for Increasing their Market Share in the Insulated Cup Sleeves Market?
The manufacturers involved in the manufacturing of insulated cup sleeves are coming up with innovations in the form of the technology used during their manufacturing process.
For instance,
- In April 2021, Graphic Packaging International, largest manufacturers of paperboard and paper-based packaging, introduced the “Hold&Go™” Insulated hot cups, through Thermashield technology, which aids in great insulation performance, thereby improving the quality of insulated cup sleeves.
Why is the Europe a Big Market for Insulated Cup Sleeves Market?
Technological advancements are leading the way for Insulated Cup Sleeves Market. For example, HÖRAUF, a German company is known for its high-end machines and technology for packaging industry. Also, the presence of key players like Graphic Packaging International, KAPGROUP, and many others are rising the market for insulated cup sleeves market.
How has the COVID-19 Pandemic Impacted the Insulated Cup Sleeves Market?
Massive transformation has happened due to COVID-19 pandemic. There has been a directional shift in the market ecosystem in the way supply-side of the market is being accessed.
This crisis has resulted in increase in the overall demand for many end-use industries, mainly food, beverage and healthcare segments, and has already led to slowdown in the recent times, in demand for certain types of packaging formats while accelerating growth for the others.
As the impact of the corona virus outbreak will be mixed, regarding the packaging for food related items, the demand will improve steadfastly for food and beverages industry, resulting in the overall boom of the insulated cup sleeves market.
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Key Segments of the Insulated Cup Sleeves Market Covered in the Report
Based on Material Type:
- Kraft Paper
- Coated Paper
Based on Capacity Type:
- 12 OZ Cups
- 16 OZ Cups
- 20 OZ Cups
- 22 OZ Cups
- 24 OZ Cups
Based on End-use:
- Café and Restaurants
- Household
- Institutes & Offices
- Others
Based on the Region:
- North America
- Latin America
- Europe
- Middle East & Africa (MEA)
- East Asia
- South Asia
- Oceania
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