The global cup sleeves market is anticipated to reach a valuation of US$ 32.1 billion in 2023, driven by growing coffee culture. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 4.0% between 2023 and 2033, and reaching a total valuation of approximately US$ 47.6 billion by 2033.
The emergence and rapid growth of online food delivery services have revolutionized the way people enjoy their favorite beverages and food items. Consumers are increasingly opting for takeaway and delivery options, especially for beverages like coffee, tea, and other hot or cold drinks, with the convenience of ordering food online and having it delivered to their doorstep. The demand for reliable and efficient packaging solutions, including cup sleeves, has witnessed a significant surge.
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Cup sleeves play a crucial role in maintaining the optimal temperature of hot and cold beverages during transit. They act as insulating barriers, protecting consumers’ hands from heat and preventing the beverages from cooling down too quickly. The feature is especially important for online orders, as customers may not consume their beverages immediately upon delivery.
Key Takeaways from the Market Study
- Global cup sleeves market was valued at US$ 30.9 billion by 2022-end.
- From 2018 to 2022, the market demand expanded at a CAGR of 2.2%.
- Asia Pacific is expected to hold a dominant CAGR of 3.9% during the forecast period.
- By product type, protective sleeve segment is expected to constitute a CAGR of 3.9% in 2033.
- On the basis of end-user, food & beverage segment is expected to dominate the market with a CAGR of 3.9% in 2033.
- From 2023 to 2033, cup sleeves market is expected to flourish at a CAGR of 4.0%.
- By 2033, the market value of cup sleeves is expected to reach US$ 47.6 billion.
Rapid growth of the beverage industry, across the globe, is a major factor that is expected to propel the growth of the cup sleeves market in the near future, remarks an FMI analyst.
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Competitive Landscape
Prominent players in the cup sleeves market are Printed Cup Company, Trident Paper Box Industries, Graphic Packaging International, LLC, BriteVision Media, LLC, HotShot Coffee Sleeves USA, LBP Manufacturing LLC, Pactiv LLC, Novolex, Sabert Corporation, and Starbucks Corporation, among others.
Recent Developments:
- In 2023, International Paper, a leading global manufacturer of paper and packaging, announced the launch of its new compostable cup sleeve. The new sleeve is made from 100% compostable materials and is certified by the European Bioplastics Association.
- In 2022, Smurfit Kappa, a leading global manufacturer of paper and packaging, announced the launch of its new sustainable cup sleeve. The new sleeve is made from 100% recycled materials and is compostable in industrial composting facilities.
- In 2022, WestRock, a leading global manufacturer of packaging, announced the launch of its new compostable cup sleeve.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global cup sleeves market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the cup sleeves market, the market is segmented on the basis of material (plastic, paper & paperboard, and rubber), by product type (shrink sleeve, and protective sleeve), and by end-user (food & beverage industry, hotels & restaurants, cafes & kiosks, quick-service restaurants, and canteens), across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa (MEA)).
Key Segments Profiled In The Global Cup Sleeves Market
By Material:
- Plastic
- Paper & Paperboard
- Rubber
By Product Type:
- Shrink Sleeve
- Protective Sleeve
By End User:
- Food & Beverage Industry
- Hotels & Restaurants
- Cafes & Kiosks
- Quick-Service Restaurants
- Canteens
Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa (MEA)
About Future Market Insights Inc. (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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