Shrink Sleeve Labels Market Global Trends and Forecast to 2023

Summary

Global Shrink Sleeve Labels Market Report Type (Stretch, and Shrink), Material (PVC, PET-G, Expanded Polystyrene Films, PE, Polylactic Acid Films, and others), Application (Food & Beverage, Pharmaceuticals, Personal Care, and others) and By Region - Global Forecast to 2023

Shrink Sleeve Labels Market - Overview

Shrink sleeve labels are one of the most durable and ideal labels for products. These labels are widely used in food and beverages, pharmaceuticals and personal care packaging industries. Labeling can have a strong impact on the buying decisions of customers. A colorful cover with quality labeling can attract customers. The Global Shrink Sleeve Labels Market is growing with the rapid pace; mainly due to the increasing demand from food & beverage industry. The high demand for packaged foods induces demand for shrink sleeve labels.

According to a recent study report published by the Market Research Future, The global market of Shrink Sleeve Labels is booming and expected to gain prominence over the forecast period.

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The global Shrink Sleeve Labels market is forecasted to demonstrate an exponential growth by 2023, surpassing its previous growth records in terms of value with a whooping, CAGR of 6.0% during the estimated period (2017 – 2023).

Key Players

Some of the key players in the global shrink sleeve labels market 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), and Constantia Flexibles (Austria)

Global Shrink Sleeve Labels Market - Competitive Analysis

Global Shrink Sleeve Labels Market appears to be highly fragmented and competitive owning to the presence of numerous large and medium players active in regional market. The key strategies traced from the analysis of recent developments of the key players include Product Launch, Agreement & Partnership, Acquisition and expansion. Strategic partnerships between Key players support the growth and expansion plans of the key players during the forecast period. On the product and sales side, companies are investing in innovation/R&D, brand building, and fostering strong relationships with customers to support their competitive position.

Manufacturers operating in the market strive to deliver innovative solutions that improve the design and manufacturing processes of business around the world. Focusing upon the competitive edge, Shrink Sleeve Labels manufacturers strive to develop products that can deliver optimal efficient, convenience and reliability. Utilizing their international and regional presence, these manufacturers assure their customers with the consistency in product & service quality. Manufacturers strive to develop their product portfolio with a wide range of Shrink Sleeve Labels for every application.

Industry News

In March 2016, Coveris S.A., announces the acquisition of leading label manufacturer Supraplast. Supraplast is an industry-recognized leader in printing technology with a broad product offering that includes shrink sleeves, self-adhesive labels, safety seals, PVC and PET shrink films.

In May 2017, Multi Packaging Solutions International complete the acquisition of Paris Art Label Company, Inc., a manufacturer of labels and shrink sleeve products to the branded consumer marketplace in the US.

Global Shrink Sleeve Labels Market - Regional Analysis

Asia-Pacific dominates the global shrink packaging market. It is expected to be the fastest growing region for the market. Rapid growth in food and beverage industry in this region driving the growth of the market. Increasing demand for consumer goods in the region mainly due to high population is also fuelling the growth of the market. Additionally, availability of raw materials and low labor cost are the factors have the positive influence on the growth of the market. North America is also expected to contribute significantly during the forecast period. Increased consumption of beverages fuelling the growth of the market.

North America is the second largest market for the shrink sleeve labels. Growing demand for consumer goods and packaged foods is expected to spur market growth. The U.K., Germany and France dominate the shrink sleeve labels market in Europe. Rising demand for consumer and personal care products and growing e-commerce is expected to spur market growth.

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