New York, USA, Nov. 02, 2022 (GLOBE NEWSWIRE) -- Shrink Sleeve Labels Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Shrink Sleeve Labels Market Information by Type, Material, Application, and Region - Forecast till 2030”, the market is estimated to grow at a 6.4% CAGR to reach USD 27.9 Billion by 2030.
Market Synopsis
Typically, sleeve labels have always been used as a medium to display marketing and regulatory content. With technology-based innovations like RFID chips as well as QR codes, shrink sleeve labels now have use in far more advanced applications such as tracing, anti-tampering, and tracking solutions.
Manufacturers across several industries like beverages, pharmaceuticals, and food, are focused on offering authentic products to their customers, often utilizing shrink sleeve labels as the best possible medium for counterfeit and tampering protection solutions. All these impressive advantages foster the demand for shrink sleeve labels worldwide and will greatly benefit the worldwide market.
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Report Scope:
| Report Attribute | Details |
| 2030 Market Size | USD 27.9 Billion |
| CAGR | 6.4% (2022–2030) |
| Base Year | 2021 |
| Forecast Period | 2022–2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, by Material, by Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | The benefits of using the shrink sleeve materials for the packaging. |
| The increase in the usage of the shrink sleeve labels in the pharmaceutical companies |
Market Competitive Landscape:
The important companies in the shrink sleeve labels industry are
- Berry Global Inc. (U.S.)
- Bonset America Corporation (U.S.)
- CCL Industries Inc. (Canada)
- Fuji Seal International Inc. (Japan)
- Huhtamäki Oyj (Finland)
- Hammer Packaging Inc. (U.S.)
- Klöckner Pentaplast (Germany)
- Macfarlane Group PLC (U.K.)
- Polysack Flexible Packaging Ltd. (Israel)
- Paris Art Label Company Inc. (U.S.)
- Cenveo Inc. (U.S.)
- The Dow Chemical Co. (U.S.)
- Avery Dennison Corporation (U.S.)
- Clondalkin Group (the Netherlands)
- Constantia Flexibles (Austria)
Since the market is filled with several small as well as big vendors, it is marked with intense competition. New launches or product rebranding as well as innovation are some of the major strategies employed by the players to elevate their market standing.
Market USP Covered:
Market Drivers:
Rampant demand from diverse end-use sectors worldwide coupled with the strong efforts given by the players to enhance their rankings by providing innovative and customized products and solutions will strengthen the market position in the years to come.
Sleeve labels are the most ideal labeling solutions among manufacturers since these are able to perfectly fit on any kind of shape, providing a 360-degree printing surface. These kinds of labels allow manufacturers to customize their products’ shape in any way they want without compromising the label. The soaring number of companies making their way into the beverage sector will be a great opportunity for shrink sleeve label developers and suppliers in the upcoming years. Manufacturers will be able to capture a significant share of the worldwide market by providing customization as per the preference of the companies in end-use industries.
The surging use of digital printing in the labeling process has become the latest trend that has caught the attention of several manufacturers. Digital printers come in various capacities along with numerous benefits, which have augmented their demand among big and small companies. As opposed to conventional label printers, these printers are used for manufacturing small batches as well as labeling content and can be easily modified as per the need, proving to be advantageous to the small companies in the industry, or the new ones.
Market Restraints:
The market will face a hindrance in the form of rising competition from stand–up pouches. Since stand-up pouches are low-cost, user–friendly, lightweight, and environmentally safe, their demand has seen a considerable rise in recent years. in short, the burgeoning stand-up pouches market size will result in a decline in the demand for shrink sleeve labels in the long run.
Browse In-depth Market Research Report (130 Pages) on Shrink Sleeve Labels: https://www.marketresearchfuture.com/reports/shrink-sleeve-labels-market-1785
COVID 19 Analysis
The overall label industry has been significantly affected by the COVID-19 outbreak. Given the pandemic scenario, numerous countries had to go under lockdown, to control the rising cases. Owing to this, the demand and supply chain has been disrupted, which has affected the worldwide market. The infrastructural projects, manufacturing units, industries, and various operations had to be put on hold owing to the pandemic situation.
The volatile costs of raw materials that are used for shrink sleeve labels along with the COVID-19 pandemic have restricted the growth rate of the market. On the bright side, the situation is getting back to normal, which means that the market in the future will see better growth.
Market Segmentation
By Type
The major types of sleeve labels are Stretch, as well as Shrink. Shrink is the top segment in the market, given this type’s significant shrinkage properties that make it suitable for any kind of shape of the product. They are cost-friendly and offer high-quality graphics, elevating their appeal and subsequent their demand. Additionally, their premium and high-quality print quality along with aesthetic and innovative appeal that enhance the appearance of the consumer goods further bolsters their demand.
By Material
The key materials discussed in the market report are Polylactic Acid Films, PET-G, PVC, PE, Expanded Polystyrene Films, and more.
By Application
Primary applications of shrink sleeve labels are Personal Care, Pharmaceuticals, Food & Beverage, and more.
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Regional Analysis
The Asia Pacific controls the biggest portion of the shrink packaging market and can even accrue the fastest growth rate in the ensuing years. The rapidly soaring food and beverage sector in the region has bumped up the demand for shrink sleeve labels. Accelerated demand for a variety of consumer goods in various countries of the region owing to the exploding population ameliorates the market growth as well. Other than this, the easy availability of chief raw materials as well as the low labor costs positively influence the regional market.
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