According to the research report titled ‘Global Cup Sleeves Market Size study, By Product Type (Kraft Paper, Coated Paper); by End-Use (Food Service, Residential, Others), and Regional Forecasts 2022-2028’ available with MarketStudyReport, global cup sleeves market is anticipated grow at a notable CAGR during 2022-2028.

Report findings suggest that global cup sleeves market growth is attributed to rising hot beverage consumption, increasing acceptance of sustainable packaging options, and recent strategic actions from top players.

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Citing an instance, a report published by Statista estimated that worldwide hot drinks market will generate USD 672.40 billion in sales in 2022 and that it will grow at a CAGR of 7.34% to reach USD 831.60 billion by the end of 2025.

For the unversed, cup sleeves are cylindrical sleeves that fit easily over paper coffee cups without handles, to shield the user's hands from getting burned while holding hot beverages. Generally, textured paper boards are used to create these sleeves.

Furthermore, expanding fast food and quick service restaurant (QSR) chains, along with the soaring tourism space, particularly in the post-covid era are expected to augment the industry outlook in the coming years.

However, unstable raw material prices and strict government regulations around deforestation may stifle market trends during the forecast period.

Based on product type, worldwide cup sleeves industry is split into coated paper and kraft paper. In terms of end-use, the market is divided into residential, food service, and others.

Regionally, North America industry captures a substantial revenue share at present and is slated to log tremendous growth during the assessment period, owing to rising consumption of caffeinated beverages and the presence of well-known manufacturers in the region.

Whereas Asia Pacific market is poised to grow substantially over the anticipated timeframe, due to rapid expansion of quick service restaurants and strict rules & regulations regarding single-use plastic items in the region.

Coming to competitive landscape, Brite Vision, ShriRam Enterprises, Ecorev, Ningbo Gold Star International Co. Ltd., Ganesha PrintoPack Industries, Leepack Industrial Co. Limited., Atharva Packaging Pvt. Ltd., Bengaluru Paper Cups, and Swan International are the leading players in global cup sleeves industry.