Shrink Sleeve Label Applicator Market to Hit US$ 1,949.6 Million by 2033, Fueled by Growth in Food and Beverage Segments

Posted on 2024-02-21 by Future Market Insights in Advertising, Industrial, Retail // 0 Comments

The global shrink sleeve label applicator market is experiencing substantial growth, with an estimated size of US$ 1,949.6 million by 2033, driven by a steady CAGR of 5.3%. In 2023, the market is expected to reach US$ 1,163.2 million. Notably, the food and beverages segment played a significant role, generating US$ 614 million in revenue in 2022, as per Future Market Insights’ analysis.

Several factors contribute to this market’s success. Shrink sleeve label applicators are extensively deployed in the food and beverages industry to label various packaging formats, especially those prone to moisture and friction. The industry’s demand for high-volume labeling has led to the emergence of new labeling technologies, with manufacturers constantly innovating to meet these demands.

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Additionally, there is a growing emphasis on product branding through packaging and labeling, driving the adoption of shrink-sleeve label applicators with cutting-edge capabilities. Manufacturers are also focusing on creating applicators that are low maintenance, cost-efficient, and versatile for a range of labeling needs in various end-use industries.

India is expected to be a significant growth driver with a CAGR of 6.7%, and Europe is set to retain a prominent share of the global shrink sleeve label applicator industry. These trends underscore the industry’s dynamism and its pivotal role in modern packaging solutions.

Business Growth Opportunities in Shrink Sleeve Label Applicator:

Customization Demand: The increasing demand for customized packaging solutions presents an opportunity for businesses to offer tailored shrink sleeve labels, catering to unique branding requirements of clients.
E-commerce Expansion: With the rise of e-commerce, there is a growing need for efficient and automated packaging solutions. Businesses can capitalize on this trend by providing streamlined shrink sleeve labeling solutions that align with the requirements of online retail.
Sustainable Labeling Solutions: As environmental concerns gain prominence, there’s an opportunity for businesses to invest in and promote eco-friendly shrink sleeve materials and applicators, meeting the growing demand for sustainable packaging solutions.
Technology Integration: Incorporating advanced technologies such as smart labels and augmented reality in shrink sleeve labeling offers a chance for businesses to provide innovative and interactive solutions, enhancing consumer engagement and brand visibility.
Global Market Expansion: With the globalization of markets, businesses can explore opportunities in expanding their presence beyond regional boundaries, tapping into emerging markets and industries where the demand for shrink sleeve labeling is on the rise.

Trends in the Shrink Sleeve Label Applicator Industry:

Digital Printing Advancements: The adoption of digital printing technologies in shrink sleeve labeling allows for shorter print runs, faster turnaround times, and high-quality graphics, driving a trend towards more flexible and efficient labeling processes.
Tamper-Evident Solutions: The increasing focus on product safety and authenticity has led to a trend in the adoption of tamper-evident shrink sleeve labels. This is especially relevant in industries such as pharmaceuticals and food, where consumer trust and safety are paramount.
Automation and Robotics: The integration of automation and robotics in shrink sleeve label application is on the rise, leading to increased efficiency, reduced labor costs, and improved accuracy, making it a notable trend in the market.
Smart Packaging Integration: Shrink sleeve labels are being increasingly used as carriers for smart packaging technologies, enabling features like RFID and NFC. This trend enhances product traceability, anti-counterfeiting measures, and consumer engagement through connected packaging.
Recyclability and Sustainable Materials: Growing environmental awareness is driving a trend towards the use of recyclable materials in shrink sleeve labels. Businesses are increasingly opting for eco-friendly solutions, aligning with consumer preferences for sustainable and responsible packaging.

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Drivers

Rising environmental awareness will spur the growth of the eco-friendly shrink sleeve level industry 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.

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 industry 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.

Key Companies Profiled

Fuji Seal International, Inc.
Krones
KARALILLE
FINPAC
DASE-SING
Xu Yuan Packaging Technology Co., Ltd.
Esleeve
Pack Leader
King Hong
DELMAX MACHINERY
Benison
MAGIC SPECIAL PURPOSE MACHINERIES PVT. LTD.
Maharshi
PDC
Sleever International
Axon
Label-Aire, Inc.
Sleeve Technology
Scaligera
Accraply
Tripack

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Shrink Sleeve Label Applicator Market by Category

By Automation:

Semi-Automatic
Automatic

By Labelling Speed:

Up to 200 BPM
200 BPM to 400 BPM
400 BPM to 600 BPM
Above 600 BPM

By Container Diameter:

Up to 50 mm
50 to 100 mm
100 mm to 150 mm
Above 150 mm

By End Use Industry:

Food
Beverages
Pharmaceutical
Chemical & Fertilizers
Cosmetics & Personal Care
Construction
Automotive
Other Consumer Goods

By Region:

North America
Latin America
Europe
East Asia
South Asia
The Middle East and Africa (MEA)
Oceania

Author

Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.

Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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