Shrink Sleeve Label Market Key Participants, Trends, and SWOT Analysis
The factors that are playing a major role in the growth of the market are the rising demand from end-users, the continuous expansion of packaging industry, cost-efficient, and the growing concern regarding the hygiene of products.
(firmenpresse) - Global shrink sleeve label market is expected to grow at a significant CAGR in the upcoming period as the scope and its applications are rising enormously across the globe. Shrink sleeve labels are the ideal and durable & unique version of labels for products that are exposed to severe dampness and resistance.
The factors that are playing a major role in the growth of the market are the rising demand from end-users, the continuous expansion of packaging industry, cost-efficient, and the growing concern regarding the hygiene of products. However, the lack of awareness and the concern regarding food safety may restrain the overall market in the years to come. Shrink sleeve label market is segmented based on type, type of polymer film, application, and region.
Shrink sleeve can labels, full body, tamper evident, and combo pack shrink sleeve labels are the types that could be explored in the market in the forecast period. The full body shrink sleeve label sector accounted for the substantial share of shrink sleeve labels market and is estimated to lead the overall market in the years to come.
Based on the type of polymer film, polylactic acid films, polyvinyl chloride films, expanded polystyrene films, polypropylene terephthalate glycol films, and polyethylene films could classify shrink sleeve labels market in the forecast period. The polyvinyl chloride films sector accounted for the significant share of the market and is estimated to lead the overall market in the years to come.
The market may be categorized based on applications like pharmaceuticals; personal care, food and beverages, and others that could be explored in the forecast period. The food & beverage sector accounted for the substantial hare of the market and is estimated to continue its dominance in the years to come. The reason could be the flexibility to handle all type of product, convenience in storage, and transporting of products.
Globally, Asia Pacific accounted for the substantial share of shrink sleeve label market and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be the presence of key manufacturers in the region, the rising demand for packaged food, and the availability of low-cost labor and polymer films. The developing countries like India and China are the major consumers of shrink sleeve label in this region.
Europe and North America are also estimated to have a positive influence on future growth. Europe is the second largest region with significant market share. However, North America is estimated to grow at the highest CAGR in the forecast period. Also, MEA is estimated to grow at the lucrative pace in the years to come.
The key players of shrink sleeve label market are Paris Art Label Company Inc., CCL Industries Inc., MacFarlane Group UK Ltd., Berry Plastics Corporation, Hammer Packaging, Corp., PMMI Media Group, Fuji Seal International, Inc., Polysack Ltd., Bonset America Corporation, and Klockner Pentaplast. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.
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Datum: 26.09.2019 - 12:10 Uhr
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