Research Nester published a report titled “Sleeve Label Packaging Market: GlobalDemand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the global sleeve label packaging market in terms of market segmentation by type, material, application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global sleeve label packaging market is anticipated to acquire a large revenue by growing at a significant CAGR during the forecast period, i.e., 2021 – 2029. This growth can be attributed to the increasing emphasis of customers towards packaged food items, rising growth of beauty & wellness industry, and the growing demand to enhance on-shelf appearance of products. It is estimated that presently the beauty & wellness industry accounts to more than $ 4.5 trillion.
The market is segmented by type, material and application. Based on material, the segment for PVC is projected to hold the largest market share owing to its high abrasion resistance, light weight and strong chemical endurance. In addition to this, the PET segment is expected to offer plenty of growth opportunities to the market over the forecast period on the back of better durability, greater safety for storing food products and higher versatility of PET plastic.
Regionally, the sleeve label packaging market is segmented into five major regions, including North America, Europe, Latin America, Asia Pacific and the Middle East & Africa. Amongst these, the market in APAC is estimated to grab the largest share during the forecast period ascribing to the growing urban population, low manufacturing and labor costs, and the high production of polymer films in the region.
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Intensifying Demand for Improved Shelf-Appeal of Products to Expand Market
Sleeve labels are capable of improving the brand identity of products on account of the property of these packaging material to convey brand identity creatively as well as display safety messaging effectively. Additionally, the sustainability and flexibility of shrink and stretch sleeves also ensures the safety of food products during distribution and storage. These factors are evaluated to boost the demand for these materials, therefore driving market growth in the coming years.
However, lack of recyclability of sleeve label packaging plastic is expected to operate as key restraint to the growth of the sleeve label packaging market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the sleeve label packaging market which includes company profiling of Bemis Manufacturing Company, Berry Global Inc., KP Holding GmbH & Co. KG, Amcor plc, Taghleef Industries SpA, Barry-Wehmiller Group, Inc., L.A.Sleeve Co., Inc., Flint Group, CCL Industries Inc. (TSE: CCL.B), AVERY DENNISON CORPORATION (NYSE: AVY), and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global sleeve label packaging market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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