Rapidly changing lifestyle due to rising economic prosperity is predicted to indirectly influence the cup sleeves market over the 2020- 2030 forecast period. The soaring demand for quality disposable paper cups for beverages is leading to uptick in demand for cup sleeves. Ease of use and no hassles of cleaning and wiping resulting in spurt in demand for paper cups is fuelling the cup sleeves market.
Key parameters based on which cup sleeves market is divided are material type, cup capacity end use, and region.
This report on cup sleeves market provides valuable insights for stakeholders to achieve copious growth in the said market over the 2020 -2030 forecast period. The detailed analysis of each factor related to the growth of the cup sleeves market makes the report a valuable decision-making instrument. Furthermore, the report also includes details about the COVID-19 impact on the cup sleeves market and the vital threats the cup sleeves market may face between 2020 and 2030.
The vendor landscape of the cup sleeves market is highly unorganized and competitive with the presence of several large and local players. Product improvement and product innovation are the focus of key players in the cup sleeves market.
Some key companies operating in the cup sleeves market are Xuancheng Bo Site Commodity Co. Ltd, DOBI, and many local players.
Firstly, rising practice in the food service segment, especially among small eateries and food joints to use quality disposable cups for hygiene is leading to spurt in demand for cup sleeves. Preference of individuals for hygienic food joints during traveling and leisure is resulting in swift shift from glass and ceramic cups to disposable paper cups. Risk of transfer of germs and infection due to improper washing of cups and spoons at small food service places has led to swift shift to disposable cups, spoons, and plates. Disposable cups and spoons are safe to use as they are for one time use.
However, risk of burning of fingers and hand because of thin material of disposable cups has led to the use of cup sleeves for protection. This is a key factor fuelling the cup sleeves market.
Changing trend of use of biodegradable cups and spoons in place of plastic ones is another key factor fuelling the cup sleeves market.
Rising trend of customization of cup sleeves is expected to open new opportunities in the cup sleeves market. Cup sleeves are increasingly being used for gifting made with a range of materials such as wool and leather. Manufacturers of cup sleeves now offer customized cup sleeves that small and mid-size enterprises buying for gifting to their employees during festive season. Companies are now using cup sleeves for advertising purpose; this gives several advantages to promote brands such as cost effectiveness, long exposure time and extensive reach. This is adding a new dimension to the growth of cup sleeves market.
Currently, Asia Pacific represents a key region in the global cup sleeves market. Rapid change in lifestyle in developing countries of the region is indirectly fuelling the cup sleeves market. Individuals in urban areas now prefer disposable cups and spoons for hygiene and to prevent risk of transfer of germs. This, in turn is resulting in uptick in demand for cup sleeves.
North America and Europe are expected to continue to hold substantial revenue in the cup sleeves market in the forthcoming years. This could be attributed to high per capita consumption of paper cups, especially during traveling and for ordering food from food service places.
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