Global Shrink Sleeve Labels Market – Market Scenario
Shrink sleeve is a full-body label, which shawls around the entireness of a container, offering a 360-degree branding and messaging of the product. Shrink sleeve labels are a comparatively new version of labels and are instantaneously gaining more popularity among various product packaging companies. Shrink sleeve are printed on a digital or flexographic press, with a transcript on the inner side of the shrink sleeves. Then, later on, glided over a container and tightened using heat shrinking method. The label then imitates the surface of the container.
Shrink sleeve labels is one of the fastest emerging segments in the label industry. Nowadays, manufacturers across the globe are focusing on re-designing their packaging method for more accurate and aesthetically pleasing designs. Therefore, major companies are adopting shrink sleeve labels over the conventional pressure sensitive labels. Shrink sleeves offers more flexibility in terms of design and allows the product to stand out from the rest of the rivalry. Additionally, they deliver some of the prime standout design potentials and frequently reduce costs and improve time. These labels are printed digitally with premium printing quality, thus eliminating the need for printing plates and making them reasonable for short runs.
Global shrink sleeve labels market is expected to grow at a CAGR of 6.5% during the forecast period 2017-2023.
Global Shrink Sleeve Labels Market – Key Players
Some of the key players in the global shrink sleeve labels 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)
Global Shrink Sleeve Labels Market – Competitive Analysis
Global Shrink Sleeve Labels Market appears to be highly fragmented and competitive owning to the presence of numerous large and medium players active in regional market. The key strategies traced from the analysis of recent developments of the key players include Product Launch, Agreement & Partnership, Acquisition and expansion. Strategic partnerships between Key players support the growth and expansion plans of the key players during the forecast period. On the product and sales side, companies are investing in innovation/R&D, brand building, and fostering strong relationships with customers to support their competitive position.
Manufacturers operating in the market strive to deliver innovative solutions that improve the design and manufacturing processes of business around the world. Focusing upon the competitive edge, Shrink Sleeve Labels manufacturers strive to develop products that can deliver optimal efficient, convenience and reliability. Utilizing their international and regional presence, these manufacturers assure their customers with the consistency in product & service quality. Manufacturers strive to develop their product portfolio with a wide range of Shrink Sleeve Labels for every application.
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In March 2016, Coveris S.A., announces the acquisition of leading label manufacturer Supraplast. Supraplast is an industry-recognized leader in printing technology with a broad product offering that includes shrink sleeves, self-adhesive labels, safety seals, PVC and PET shrink films.
In May 2017, Multi Packaging Solutions International complete the acquisition of Paris Art Label Company, Inc., a manufacturer of labels and shrink sleeve products to the branded consumer marketplace in the US.
Global Shrink Sleeve Labels Market – Segmentation
Global shrink sleeve labels market has been segmented based on type, material, application, and region. Based on the type, the market is segmented into the stretch and shrink. Among these, the shrink is projected to dominate the global shrink sleeve labels market over the forecast period due to increasing adoption of shrink sleeve labels across all the end use application. Based on the material, the market is segmented into PVC, PET-G, Expanded Polystyrene Films, PE, Polylactic acid films, and others. PVC dominated the market in 2016 and is projected to grow at rapid rate. A range of application of PVC across all the major packaging type is creating a fertile market for plastic as a material in the global shrink sleeve labels market. Based on the application, the market is segmented into food & beverage, pharmaceuticals, personal care, and others. The food & beverage segment dominated the global market in 2016 and is projected to be the rapidly growing segment over the next five years owing to their convenience in storage, transporting, and flexibility to handle all kind of food & beverage products.
The shrink sleeve labels industry is expected to have a vast number of new participants over the forecast period owing to continuous expansions in the packaging industry coupled with rising consumer preferences for high hygiene features. The market is also expected to have increased number of development activities by multinationals and well-established companies. Mergers and acquisition activities are anticipated to be witnessed over the forecast period.
Global Shrink Sleeve Labels Market
Flexibility, capability, and convenient labelling are driving the growth of the market. Furthermore, the tamper-evident packaging is a unique feature that set it apart from the other type labels. They are one of the most robust and ideal labels for products. These types of labels offer various features such as full colour, design coverage, 360-degree appearance, abrasion proof, moisture resistance, and wide capability. Shrink sleeve labels also safeguards the product from UV radiation. However, growing environmental concerns and the growing need for diminishing pollution are likely to hamper the market growth during the forecast period. The competition in the labelling industry is on the verge of continuous demand. Shrink sleeve labels are extensively used in the food & beverages, pharmaceuticals and personal care packaging industries. Labelling on the product holds high importance into customer’s buying decision. Attractive label grabs more attention of the customer, which tends them to buy those products. A vibrant cover with quality labelling can attract a huge number of customers. The Asia Pacific region has evolved significantly in the shrink sleeve & stretch sleeve labels market, with the highest market growth occurring the economies such as China, India, and Japan among others. These countries are currently witnessing the growing demand for packaged food. Also, high availability of polymer films and low labour cost are creating a lucrative market for shrink sleeve market in this region.
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