Shrink Wrap Sleeves Market Outlook, Strategies, Growth Analysis, Future Scope, key drivers
Global Shrink Wrap Sleeves Market Report Type (Stretch, and Shrink), Material, Application (Food & Beverage, Pharmaceuticals, Personal Care, and others) and By Region - Global Forecast to 2023
(firmenpresse) - Shrink Wrap Sleeves Market - Scenario
Shrink Wrap Sleeves are one of the most durable and ideal labels for products. These 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 Global Shrink Wrap Sleeves Market is growing with the rapid pace; mainly due to the increasing demand from food & beverage industry. The high demand for packaged foods induces demand for Shrink Wrap Sleeves.
The global Shrink Wrap Sleeves market is forecasted to demonstrate an exponential growth by 2023, surpassing its previous growth records in terms of value with a whooping, CAGR of 6.0% during the estimated period (2017 – 2023).
Key Players
Some of the key players in the global Shrink Wrap Sleeves market are Berry Global, Inc. (U.S.), Bonset America Corporation (U.S.), CCL Industries Inc. (Canada), Fuji Seal International, Inc. (Japan), Huhtamäki Oyj (Finland), Hammer Packaging, Inc. (U.S.), Klöckner Pentaplast (Germany), Macfarlane Group PLC (U.K.), Polysack Flexible Packaging Ltd. (Israel), Paris Art Label Company Inc. (U.S.), Cenveo, Inc. (U.S.), The Dow Chemical Co. (U.S.), Avery Dennison Corporation (U.S.), Clondalkin Group (the Netherlands), and Constantia Flexibles (Austria)
Segmentation
Global Shrink Wrap Sleeves Market is segmented in to three key dynamics for an easy grasp and enhanced understanding.
On the basis of type, the market has been segmented as Stretch, and Shrink. Shrink dominates the type segment of the market. Shrink Wrap Sleeves have extreme shrinkage properties and are suitable for all shapes of products. They are cheap and provide high-quality graphics, which has increased their demand. Moreover, they have premium print quality and innovative and aesthetic appeal which improves the appearance of consumer goods.
Based on material, the market has been segmented into PVC, PET-G, Expanded Polystyrene Films, PE, Polylactic Acid Films, and others.
On the basis of application, the market has been segmented into Food & Beverage, Pharmaceuticals, Personal Care, and others. Food & Beverages dominates the application segment of the market. Growing demand of processed and packaged food across the globe driving the demand of the market. The Pharmaceuticals sector is anticipated to register highest growth rate during the forecast period.
Segmentation by Regions: Comprises Geographical regions - North America, Europe, Asia Pacific and Rest of the World.
Regional Analysis
Asia-Pacific dominates the global shrink packaging market. It is expected to be the fastest growing region for the market. Rapid growth in food and beverage industry in this region driving the growth of the market. Increasing demand for consumer goods in the region mainly due to high population is also fuelling the growth of the market. Additionally, availability of raw materials and low labor cost are the factors have the positive influence on the growth of the market. North America is also expected to contribute significantly during the forecast period. Increased consumption of beverages fuelling the growth of the market.
North America is the second largest market for the Shrink Wrap Sleeves. Growing demand for consumer goods and packaged foods is expected to spur market growth. The U.K., Germany and France dominate the Shrink Wrap Sleeves market in Europe. Rising demand for consumer and personal care products and growing e-commerce is expected to spur market growth.
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Datum: 30.03.2020 - 14:29 Uhr
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