The Shrink sleeve labels market is expected to grow at a CAGR of 6.5% during the forecast period. A shrink sleeve is a full-body label that wraps around the entire container, giving the product 360-degree branding and marketing. Shrink sleeve labels are a relatively new type of label that has quickly gained popularity among a variety of product packaging companies. Shrink sleeves are created on a digital or flexographic press and include a transcript on the inner side. Then, using the heat shrinking method, glided over a container and tightened it. The label then imitates the container’s surface. One of the most rapidly growing divisions of the label industry is shrink sleeve labels. Manufacturers all across the world are redesigning their packaging methods to create more precise and aesthetically beautiful designs. As a result, major corporations are preferring shrink sleeve labels to traditional pressure-sensitive labels. Shrink sleeves give for more design options and allow the product to stand out from the competition. They also provide some of the most unique design opportunities, as well as frequently lowering costs and speeding up the process. These labels are digitally printed with high-quality printing, eliminating the need for printing plates and making them cost-effective for short runs.
Market Segmentation
Based on the market type, the market is segmented into the stretch and shrink.
Based on the market material, the market is segmented into PVC, PET-G, Expanded Polystyrene Films, PE, Polylactic acid films, and others.
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Based on the market application, the market is segmented into food & beverage, pharmaceuticals, personal care, and others.
Based on the market region, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
Regional Classification
In the shrink sleeve & stretch sleeve labels market, the Asia Pacific region has changed dramatically, with economies such as China, India, and Japan, among others, experiencing the strongest market growth. These countries are currently experiencing an increase in packaged food demand. In addition, the region’s great availability of polymer films and low labor costs have created a lucrative shrink sleeve business. In the food and beverage, pharmaceutical, and personal care packaging industries, shrink sleeve labels are widely utilized. Product labeling plays a significant role in the customer’s purchasing choice. Customers are more likely to buy products with attractive labels because they attract their attention. A colorful cover with high-quality labeling can draw in a large number of buyers.
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Industry News
The major key players in the market are Berry Global, Inc., Bonset America Corporation, CCL Industries Inc., Fuji Seal International, Inc., Huhtamaki Oyj, Hammer Packaging Inc., Klockner Pentaplast, Macfarlane Group PLC, Polysack Flexible Packaging Ltd., Paris Art Label Company Inc., Cenveo, Inc., The Dow Chemical Co., Avery Dennison Corporation, Clondalkin Group, and Constantia Flexibles. Due to ongoing expansions in the packaging sector and expanding consumer demands for high hygiene characteristics, the shrink sleeve labels market is likely to attract a large number of new participants throughout the projection period. Multinationals and well-established enterprises are projected to strengthen their development activities in the sector. During the forecast period, mergers and acquisitions are expected to take place.
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