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Dublin, Feb. 25, 2022 (GLOBE NEWSWIRE) — The “Global Sleeve Labels Market Size, Trends & Growth Opportunity, By Product Type, By Material Type, By Printing Ink Type, By End Use, By Region and Forecast till 2027.” report has been added to ResearchAndMarkets.com’s offering.
The Global Sleeve Labels Market was valued at USD 14.2 billion in 2020 and it is expected to reach USD 18.9 billion by 2027 at a CAGR 5.6% from 2021-2027.
Sleeve labels are mainly used on almost all types of fast-moving consumer goods &can be classified into shrink sleeve labels & stretch sleeves labels. Shrink label is made up of plastic & polymer products whereas are a full-body label that offers 360 coverage. Shrink Sleeves labels are highly durable & ideal for food and beverage and pharmaceutical packaging products. Among these two, shrink label is an ideal one and gaining popularity because this label offers numerous opportunities to innovate the packaging of the product. Moreover, the sleeve label uses flexographic & gravure printing technology and is becoming the go-to choice.
Market Drivers
The increase in demand for extended shelf-life of the product is expected to propel the market growth of the sleeve label. Most sleeve labels are based on advanced security features like UV protection which are claimed to increase the shelf life of products. Moreover, these labels are also equipped with tracking systems such as RFID chips & QR codes in some cases. Hence, growing demand for extending shelf-life of the product will drive the market growth of the sleeve label.
Furthermore, the rise in packaging industry is another major factor that is expected to propel the market growth of sleeve labels, due to the wide use of sleeve labels in the packaging of various applications such as food and beverages, medicines, aesthetic products, and home care. For instance, according to a report released by flexible packaging association, the United States flexible packaging industry was US$ 31.8 billion in sales in the year 2018. These factors are estimated to boost growth of the global sleeve labels market in the coming years .
Market Restraints
However, fluctuations in the cost and availability of raw materials are expected to hinder the growth of global sleeve labels market over the forecast period.
Market Segmentation
The Global Sleeve Labels Market is segmented into product type such as Stretch Sleeve, and Shrink Sleeve, by material type such as Oriented Polystyrene (OPS), Polyvinyl Chloride (PVC), Polyethylene terephthalate (PET-G), Polypropylene, Others, by printing ink type such as Water-based, UV, Solvent-based. Further, market is segmented into end use such as Food & Beverage, Healthcare, Personal Care, and Others.
Regional Analysis
Also, the Global Sleeve Labels Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, Middle East & Africa. APAC region dominated the …
Full story available on Benzinga.com
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