FMI Shrink sleeve label market report projects this industry to reach a high valuation during the forecast period of 2021-2031, which will be represented by a graph of positive growth, with a noteworthy CAGR. the growth is further boosted by an increase in applications in quick-service-restaurants (QSR).

“Owing to such heightening beverage sales, manufacturers are focusing on innovative product launches, keeping the flexibility of labelling machines at their core..” says the FMI analyst.

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Shrink sleeve label market – Important Highlights

• Amongst end-use industries, the beverage industry is estimated to invest the most in the shrink sleeve label applicator packaging, owing to its rising popularity
• According to product type, Labelling speeds over 600 BPM is estimated to gain importance in the future, showing a CAGR of more than 5.5%, because manufacturers are depending upon quick packaging strategies.
• China is estimated to hold the major market valuation with a CAGR of 5.9% during the estimated period, owing to its huge growth in the beverage industry.
• Germany remains the most lucrative market in Europe during the projected years because market growth is supported by rising sustainability concerns amongst manufacturers and consumers alike.

Shrink sleeve label market – Drivers

• Rising environmental awareness will spur the growth of the eco-friendly shrink sleeve level market during the projected years.
• An increase in demand for the beverage industry will continue to drive market growth.
• The latest technological advancements in the shrink sleeve label applicators landscape are estimated to help widen expansion prospects for the forthcoming decade due to an increase in demand for minimal downtime and maximum output.

Shrink sleeve label market – Restraints

• Due to its presence of polymers, a major cause of concern among manufacturers is the limited degree of recyclability of shrink sleeve labels.
• It is difficult for the shrink sleeve label applicator market to cope up with the latest technologies that directly label the container instead of depending upon a film, which promises to remove the environmental concerns too.
• Their functionality is decreasing as businesses are focusing on marketing their products online.

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COVID-19 Impact on Shrink sleeve label market

Shrink sleeve label applicators market have witnessed huge demand during the Covid-19 pandemic. As customers are worried about health and hygiene, there is a decline in popularity of dine-outs, and an increase in demand for instant foods and beverages has propelled the need for accurate labelling of packaged food items.

Competitive Landscape

With the increasing preference of manufacturers towards the promotion and branding of the packaged product with the rise in urbanization, there is an expectation of a massive increase in demand for shrink sleeve label applicators.

 In June 2017, Axon, LLC introduced the customers in Latin America to a new iteration of shrink sleeve applicator which was specifically targeted for manufacturers who wanted to increase its operating efficiency as well as its production capability through dependable automation.

Prominent manufacturers in the shrink sleeve label applicator market areas include Fuji Seal International, Inc., Krones, KARALILLE, FINPAC, and so on.

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