Sleeve labels are widely used on almost all types of fast-moving consumer goods and can be classified into shrink sleeve labels and stretch sleeves labels. Shrink label is made up of plastic and polymer products whereas are a full-body label that offers 360 coverage. Shrink sleeves labels are highly durable and ideal for food &beverage and pharmaceutical packaging products. Among these two, shrink label is an ideal one and gaining huge traction because this label offers numerous opportunities to innovate the packaging of the product. Moreover, the sleeve label uses flexographic and gravure printing technology and is becoming the go-to choice.

The global sleeve labels market is projected to reach around US$ 18.6 billion by the end of 2027, in terms of revenue, growing at CAGR of 5.4% during the forecast period (2019-2027).

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Market Opportunities
Expanding packaging industry especially in Asia Pacific region is expected to offer potential growth opportunity to the market of sleeve label. According to the packaging gateway, India is anticipated to reach US$ 73.6 billion by the 2020 financial year (FY2020), due to the India’s growing population and income levels. Therefore, the growing packaging sector will favor the market growth of the sleeve label over the forecast timeframe.

Competitive Section:
Fuji Seal International, Inc., CCL Industries, Dow Chemicals, Berry Plastics Group, Inc., Klöckner Pentaplast, Macfarlane Group PLC, and Huhtamaki Oyj.

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