Press release
Shrink Sleeve Labels Market Growing at 6% CAGR To Cross 14 Bn by the end of 2022
Global Shrink Sleeve Labels Market Information by 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 region - Forecast to 2022
Market Synopsis of Shrink Sleeve Labels Market
The key drivers for the growth of shrink sleeve labels market are its properties such as flexibility and added capabilities. The unique feature that sets it apart is tamper-evident packaging. Shrink sleeve labels are one of the most durable and ideal labels for products. The advantages of this particular market are 360 degree, design coverage, full color, abrasion, moisture resistance and wide capability. Shrink sleeve labels ensure protection from UV radiation. One of the biggest challenges of this particular market is recycling of the bottles they use it.
The competition in the labeling industry is growing due to continuous demand. Shrink sleeve 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 Asia-Pacific region accounted for the fastest growing share in terms of value followed by North America and Europe. The Asia-Pacific region has developed significantly in the shrink sleeve & stretch sleeve labels market, with the fastest market growth happening in the regions of India and China. The region is marked with increasing demand for packaged food, easy availability of polymer films, and low labor cost. The global shrink sleeve label market is expected to cross 14 Billion growing at a CAGR of approximately 6% by the end of 2022.
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Regional Analysis of Global Shrink Sleeve Labels Market
The Asia-Pacific region is the fastest growing market for global shrink sleeve labels, followed by North America and Europe. The Asia- Pacific region has developed significantly in the shrink sleeve & stretch sleeve labels market, especially countries like India and China.The region offers a lucrative market to packaging and labelling manufacturers due to changing market dynamics and economic development. The region has seen increased consumption of packaged food & beverages items along with healthcare awareness.This induces the demand for such labels from both food & beverages and pharmaceutical industries.
Key Players
The key players of global shrink sleeve labels market report includeBerry Plastics Corporation, Bonset America Corporation,CCL Industries Inc., Fuji Seal International Inc., Huhtamaki OYJ, Hammer Packaging Corp., KlocknerPentaplastCorp.,MacFarlane Group UK Ltd,, Polysack Ltd, Paris Art Label Company Inc. and others.
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Market Research Future
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