The labeling industry has witnessed two-fold growth in the last decade. Among multiple segments of the global label market, sleeve labels are anticipated to be the fastest growing segment.
Albany, NY -- (SBWIRE) -- 02/20/2017 -- Sleeve Labels, are broadly categorised into stretch sleeve labels and shrink sleeve labels, based on the technique of labeling. Sleeve labels find their wide usage in the labeling of beverage and packaged food. Sleeve labels are widely sought after for healthcare and personal care packaging solution, owing to cost efficient and atheistic appeal attributes. The market share of sleeve labels is estimated to be 12% of the global labeling market in 2016 and is projected to increase at a CAGR of over 5% throughout the forecast period.
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The labeling industry has witnessed two-fold growth in the last decade. Among multiple segments of the global label market, sleeve labels are anticipated to be the fastest growing segment. Factors such as brand competitiveness, cost efficiency, and on-shelf appeal have contributed to the growth of sleeve labels, worldwide. Likewise, the mounting demand of beverage and packaged food in consort to health care and personal care products have augmented the growth of sleeve labels. However, government initiatives and growing consumer awareness towards usage of eco-friendly and low-density bio-degradable packaging products have put a limitation towards the growth of sleeve labels markets. Besides, presence of low-cost substitutes like pressure sensitive and self-adhesive labels is another limiting factor for the sleeve labels market.
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Persistence Market Research, in the report titled, "Sleeve Labels Market: Global Industry Analysis and Forecast, 2016–2024," have segmented the global sleeve labels market on the basis of product type, end-use, material type, printing technology type, printing ink type and region. On the basis of product type the global sleeve labels market has been segmented into stretch sleeves and shrink sleeves. On the basis of end-use, the market has been segmented into food & beverage, healthcare, personal care and other uses. On the basis of material type, the market has been segmented into oriented polystyrene shrink, polyvinyl chloride, PET-G, polypropylene and others. Based on the printing technologies gravure, digital and flexography segments have been considered. Based on the printing ink type, the market has been segmented as water based, UV and solvent based. Lastly, on the basis of region, the global sleeve labels market has been segmented into North America, Latin America, Europe, Asia-Pacific and the Middle East & Africa.
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Asia-Pacific is expected to dominate the sleeve labels market gaining 553 BPS between 2016 and the end of the forecast period. The APAC market and is forecast to register the highest CAGR of 6.2%. This trend is attributed to the mounting demand for beverage and packaged food China, India, and ASEAN countries. Furthermore, growth in manufacturing sector and increased consumer spending power are the key drivers of sleeve labels in this region. North America though a developed market with multiple market players, is expected to gain momentum in the later phase of the forecast period with future investments in the manufacturing sectors. Mature market of Europe is anticipated to witness uneven growth throughout the forecast period, primarily due to modest economic performance and disparity in growth forecasts. Moreover, Latin America and MEA sleeve labels markets are expected to register sluggish growth, all over the forecast period.
Globally, the leading players in sleeve labels include CCL Industries, Fuji Seal International, Inc., DOW Chemicals, Berry Plastics Group, Inc., Macfarlane Group PLC, Huhtamaki Oyj and Klockner Pentaplast. These companies operate in different regions and account for a substantial share of the market. Moreover, the industry, particularly in emerging market, also houses a large number of small-scale players, which operate in profitability margins.
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