Market Research Future published a half cooked research report on global shrink sleeve labels market. The market for global shrink sleeve labels market is expected to grow over the CAGR of around 6% during the period 2016 to 2022
Shrink sleeve labels are one of the most durable and ideal labels for products like food, beverage and medicines. The unique feature that sets it apart is tamper-evident packaging. The key drivers for the growth of shrink sleeve labels market are its properties as flexibility and added capabilities.
The food and beverage industry is thriving globally due to the dependence on the processed and packaged food. The transition of regional growth from North America & Europe to APAC for the sector has induced the demand for convenience food items. The increased demand is met with the changing packaging solutions. The food and beverage industries fuel the demand for such attractive labels that gives out the product information. Furthermore the pharmaceutical industries also need appropriate labels that all the information about the medicine. It is very crucial for the consumers to be aware of the contents, ingredients, components and dosage of the medicine which is provided on these shrink sleeve labels.
Labeling can have a strong impact on the buying decisions of customers as colorful covers with quality labeling to attract customers. Industries other than food & beverage and pharmaceutical like personal care use the labels extensively across products like cosmetics, skin care, eye care and others. These are highly shrink sleeve label driven. With changing lifestyles and increasing awareness about wastage and recycling people are buying shrink sleeve label products. The global shrink sleeve labels market is expected to cross USD 14 Billion mark, growing at a CAGR of approximately 6% by the end of the forecasted period.
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Key Players of Shrink Sleeve Labels Market:
- Berry Plastics Corporation
- Bonset America Corporation
- CCL Industries Inc
- Fuji Seal International Inc
- Huhtamaki OYJ
- Hammer Packaging Corp
- Klockner Pentaplast
- MacFarlane Group UK Ltd
- Polysack Ltd
- Paris Art Label Company Inc.
Market Research Analysis:
The market is highly application based. The key driver for market growth is increased emphasis on packaging & labelling across all industries. It is expected that the global shrink sleeve labels packaging market will advance with higher growth rate as compared to previous years. However the current challenge for the market is the need for recyclable material for labelling and increasing competition from emerging nations. The advantages of such labels are 360 degree applicability on the product, design coverage, full color, abrasion, moisture resistance and wide capability. Shrink sleeve labels ensure protection from UV radiation.
The Asia-Pacific region accounted for the fastest growing market followed by North America and Europe. The Asia-Pacific region has developed significantly in the shrink sleeve & stretch sleeve labels market due to increased demand from emerging nations like India and China. The region is expected to show similar growth by the end of the forecasted period by offering potential market to the packaging and labelling companies.
Scope of the Report:
This study provides an overview of the global shrink sleeve labels industry, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific, and Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global shrink sleeve labels market as material, type and application. On the basis of material it is segmented as PVC, PET-G, Expanded Polystyrene Films and Polylactic Acid Films. On the basis of type it is segmented as stretch and shrink labels. On the basis of application it is widely used in the food & beverage, health care, personal care industries.
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