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Sleeving Machines Market Projected to Reach USD 4.3 Billion, at a 3.60% CAGR by 2032

03-19-2024 01:36 PM CET | Consumer Goods & Retail

Press release from: Market Research Future

Sleeving Machines Market

Sleeving Machines Market

Sleeving Machines Market Overview

As of 2022, the sleeving machines market size was valued at USD 3.1 billion. The market's end use is expected to witness steady growth over the forecast period, with projections reaching USD 3.2 billion in 2023 and USD 4.3 billion by 2032. This represents a compound annual growth rate (CAGR) of 3.60% during the forecast period from 2023 to 2032.

Market Summary

Sleeving machines, also known as labelers or shrink sleeve applicators, are automated machines used in various industries for applying sleeves or labels onto containers, bottles, or packages. These machines play a crucial role in enhancing product identification, branding, and promotional opportunities for manufacturers. They are widely used in the packaging, food and beverage, pharmaceuticals, and personal care industries, among others.

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Key Companies in the Sleeving Machines market

Key Companies in the Sleeving Machines market include

Krones AG

Fujiseal International

Finpac Group

Pack Leader Machinery Inc.

Sleever International

Tripack Group

Axon Corporation

USLUGA SHPK

Label-Aire Corporation

Benison Group

Sleeving Machines Market Segmentation

The automation outlook for sleeving machines encompasses three main categories: automatic, semi-automatic, and manual systems, providing options suited to varying levels of operational efficiency and control.

Furthermore, sleeving machines are classified into different types, including shrink sleeve labeling machines, stretch sleeve labeling machines, roll-fed labeling machines, tamper-evident banding machines, and heat tunnel machines, catering to diverse labeling and packaging needs.

In terms of end-use applications, sleeving machines find utilization across various industries such as food & beverages, pharmaceuticals, cosmetics & personal care, chemicals, automotive, and other industrial sectors.

Regionally, the adoption of sleeving machine technologies exhibits variation, with prominent markets located in North America, Europe, and the Asia-Pacific region, while other regions contribute to the global landscape as part of the Rest of the World segment.

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Market Drivers

The need for attractive and informative packaging was driving the demand for sleeving machines. Brands were increasingly using sleeves and labels to differentiate their products on the shelves and provide consumers with more detailed information.

Consumer demand for personalized and customized products was leading to the adoption of sleeving machines that could handle variable data and produce unique packaging for each product.

The rise of e-commerce and direct-to-consumer sales was boosting the need for efficient packaging and labeling solutions. Sleeving machines that could handle a wide range of product shapes and sizes were in demand to meet the requirements of online retail.

Market Restraints

 The cost of purchasing and installing sleeving machines could be relatively high, especially for advanced and automated models. This initial investment could be a significant barrier for smaller businesses or companies with budget constraints.

Introducing sleeving machines into existing production lines might require adjustments and integration with other equipment. Ensuring seamless integration without disrupting the overall production process could pose challenges.

Some sleeving machines, especially those with advanced features and automation, could be technically complex to operate and maintain. This could lead to the need for specialized training for operators and maintenance personnel.

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Regional Analysis

The research documents by MRFR indicate that The North American Region secured the leading position across the global Sleeving Machines industry in 2021 with the largest contribution of nearly 45.80%. The Region has Mexico, Canada, and the U.S. as the leading development contributors. Further, the U.S. Sleeving Machines Market held the largest market share, and Canada was the fastest-growing North American Region. The main aspect supporting regional market expansion is the growing e-commerce industry, particularly in the U.S. Furthermore, the rising adoption of standards and regulations about labeling, tracing, and serialization is also considered to be one of the vital aspects causing a surge in the performance of the regional market in the last few years.

The European Region anticipates ensuring the second spot across the global Sleeving Machines industry over the coming years. The Region has France, Germany, and the U.K. as the leading development contributors. Further, the German Sleeving Machines Market held the largest market share, and the U.K. was the fastest-growing Market in Europe. The Region's main aspect supporting regional market expansion is an increase in the demand for functional food & beverage items coupled with the increased spending on pharmaceutical & healthcare products. Furthermore, the increased demand for this equipment is labeling laws relating to product information, and safety is also considered to be one of the vital aspects causing a surge in the performance of the regional market in the last few years.

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About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

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99 Hudson Street, 5Th Floor
New York, NY 10013
United States of America
+1 628 258 0071 (US)
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Email: mailto:sales@marketresearchfuture.com

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