Shrink Sleeves Labels Market Size, Growth Analysis And Industry Forecast To 2027
Global Shrink Sleeves Labels Market was valued at USD 9.88 billion in 2019 which is expected to reach USD 17.65 billion by 2027 at a CAGR 7.52%.
Shrink sleeves labels are used for labeling of packaged food and beverages. These are polyester or plastic labels which can cover the entire perimeter of product and confirm to unique geometry of the package. 360 design coverage, abrasion, moisture resistance, wide compatibility, full color, and moisture resistance are the unique features of shrink sleeves labels.
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Increase in technological developments and innovations in shrink sleeves labels is expected to boost the global shrink sleeves labels market growth. For instance, in January 2020, TAKK industries had launches new static eliminator bar. It is developed and designed for various applications such as shrink sleeve manufacturing, pharmaceutical and food manufacturing, narrow web digital and flexo printing. Furthermore, rise in demand for packaged food and beverages and in personal care is expected to propel the global shrink sleeves labels market growth. Also, increase in government initiatives and rise in customer awareness to eco-friendly, bio-degradable, and low-density items will have the positive impact on global shrink sleeves labels market growth.
Market Restraint
Global Shrink Sleeves Labels Market has various challenging factors such as replacement of bottles with pouches, and intricate recycling process which are expected to restraint the market growth.
Impact of COVID- 19 on Market
COVID 19 Pandemic is act as short term challenging factor for manufacturing or production and packaging industries across the globe. The COVID 19 outbreak likely to decreases the consumer demand in short term. It is expected to hinder the global shrink sleeves labels market growth.
Market Segmentation
Global Shrink Sleeves Labels Market is segmented into material Polythene Terephthalate Glycol, Oriented Polystyrene, Polyvinyl Chloride, Polypropylene, and Polyethylene, and Others, by technology such as Letterpress Printing, Offset Printing, Flexographic Printing, Rotogravure Printing, and Others. Further, Global Shrink Sleeves Labels Market is segmented into application such as Personal Care, Food & Beverages, and Others.
Also, Global Shrink Sleeves Labels Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
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Market Taxonomy
By Material
- Polythene Terephthalate Glycol
- Oriented Polystyrene
- Polyvinyl Chloride
- Polypropylene
- Polyethylene
- Others
By Technology
- Letterpress Printing
- Offset Printing
- Flexographic Printing
- Rotogravure Printing
- Others
By Application
- Personal Care
- Food & Beverages
- Others
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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