The sleeve label packaging market is estimated to garner a sizeable revenue by growing at a significant CAGR over the forecast period, i.e., 2021 – 2029. The growth of the market can be attributed to the growing inclination of consumers towards packaged foods, rise in demand to enhance the on-shelf appeal of products, and the rapid growth of beauty & wellness industry. Currently, the health and wellness industry generates a revenue of more than USD 4.5 trillion. Along with these, these packaging also offer many advantages such as improved brand identity, heightened end-user engagement and better marketing opportunities, which in turn are expected to offer ample opportunities for the growth of the market in the near future.
The market is bifurcated by type into shrink and stretch, out of which, the stretch sleeve labels segment is anticipated to witness noteworthy growth in the sleeve label packaging market on account of greater aesthetic appeal and high cost-effectiveness. In addition to these, stretch labels also pose lesser risks to the environment, which in turn is projected to boost the demand of the products over the forecast period. Furthermore, on the basis of material, the PVC segment is expected to gather the largest market share over the forecast period in view of PVC’s light weight and high chemical and abrasion resistance. It is calculated that the worldwide PVC production in 2025 will increase by more than 15 million metric tons from 2019. However, the segment for PET is expected to grow significantly in the coming years owing to the higher versatility of this plastic, greater safety for storage of food items and better durability. Additionally, by application, the pharmaceuticals segment is evaluated to witness most rapid growth, which can be attributed to the increasing expansion of this sector in developing countries and the escalating consumption of drugs worldwide.
On the basis of geographical analysis, the sleeve label packaging market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. The market in North America is estimated to occupy the largest share over the forecast period on the back of the presence of leading industry players and a robust rate of industrial development in the region. Moreover, Asia Pacific is assessed to emerge as the most futuristic market in the near future owing to the increasing urban population, low cost of labor, and growing availability of polymer films in the region. Furthermore, South-East Asia is anticipated to be a crucial zone for market growth in the future, which can be credited to the large-scale manufacturing of decorative container coatings at lower costs and increasing production of labelling and packaging industries. Apart from these, the rising industrial capacities of countries, namely China and India is also evaluated to fuel market growth in the APAC region. CLICK TO DOWNLOAD SAMPLE REPORT
The sleeve label packaging market is further classified on the basis of region as follows:
Our in-depth analysis of the sleeve label packaging market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Growing consumer inclination towards packaged food and the increasing demand to improve on-shelf appearance of products are the major market growth drivers.
The market is anticipated to attain a significant CAGR over the forecast period, i.e., 2021 – 2029.
Lack of recyclability of sleeve packaging material is estimated to hamper the market growth.
Asia Pacific region will offer more business growth opportunities on the back of increasing urban population and low labor cost.
The major players in the market are Bemis Manufacturing Company, Berry Global Inc., KP Holding, Amcor plc, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, material, application, and by region.
The PVC segment is anticipated to hold largest market size and is estimated to grow at a modest CAGR over the forecast period and display significant growth opportunities.
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