Shrink Sleeve Label Applicator Market: Notable Developments & Geographical Outlook
ESOMAR-certified firm Future Market Insights (FMI) has recently published an extensive coverage on the global shrink sleeve label applicator market.The study estimates the market to expand by 2% in 2021, with growing focus on food & beverage generating significant opportunities.The global shrink sleeve label applicator market is estimated to value at US$ 1.1 billion in 2022 and is projected to reach US$ 1.6 billion by 2030, at a CAGR of 5.0%.Furthermore, the pharmaceutical industry represents major expansion avenues, with prolific advancements witnessed in the generic drugs domain. Bulk of all generic drugs are produced in India, accounting for over a fifth of the global export volume. Consequently, shrink sleeve label applicator players are augmenting their footprint across the South Asian market.Besides the widening prospects across the pharmaceuticals segment, opportunities also abound across the cosmetics & personal care domain, anticipated to create a significant boost through the upcoming forecast period. As per FMI’s projections, cosmetics and personal care applications generated over 10% of the revenue throughout 2022.Rising incidences of mislabeling and incorporation of undesirable ingredients are prompting government authorities to tighten cosmetic labeling standards so as to prevent any deleterious impacts on consumers upon usage. FMI anticipates the channel to chart a promising opportunities in the future.Key Takeaways from the Shrink Sleeve Label Applicator Market ReportThe shrink sleeve label applicator market is expected to grow at a CAGR of 5% from 2022–2030
The automatic applicators are expected to remain lucrative due to their easily operatable properties and time saving
The beverages industry will fuel demand for shrink sleeve labels owing to growing use in bottles and packaged drinks
South Asian countries will emerge as lucrative hubs for shrink sleeve label applicators through 2030
The high operational costs are expected to limit growth in the shrink sleeve label applicator market.
“Increasing demand for safe and durable labeling due to COVID-19 is expected to increase production of shrink sleeve label applicators in the market. Players are also putting efforts to develop cost efficient products,” says an analyst at FMI.Competitive LandscapeIncreasing industrialization has fueled demand for packaging that has in turn increased the use of shrink sleeve label applicators in South Asia, allowing them to lead the market growth. Players are now focused on creating innovative equipments that improve effectiveness and are cost efficient.In June 2017, Axon introduced a new shrink sleeve applicator that displays higher production and efficiency. It uses automation to increase the volume of production.
In January 2018, American Film and Machinery introduced shrink sleeve label applicator and LX-100 tamper band for low to moderate production rates.
Some of the key players in the shrink sleeve label applicator market are Pack Leader USA LLC, MPI Label Systems Inc., Shanghai Leadworld Machinery Technology Co. Ltd., Axon LLC, Quadrel Labeling Systems, Maurti Machines Pvt. Ltd. and Shanghai Keno Industrial Co. Ltd.Valuable Insights into The Shrink Sleeve Label Applicator Market ReportFuture Market Insights (FMI) has presented a detailed analysis on the shrink sleeve label applicator market along with an assessment for the years 2022–2030. In order to provide a better comprehension, the market is divided into various segments. On the basis of automation, the market is divided into semi-automatic and automatic. Based on the container diameter, the market is segregated into up to 50 mm, 50 to 100 mm, 100 mm to 150 mm and above 150 mm.The market is segmented based on the labeling speed into up to 200 BPM, 200 BPM to 400 BPM, 400 BPM to 600 BPM and above 600 BPM. On the basis of end use industry, the market is divided into food, beverages, pharmaceutical, automotive, construction, chemical & fertilizers, cosmetics & personal care and other consumer goods. Based on the geography, the market is segregated into North America, Latin America, Europe, South Asia, East Asia, Oceania and Middle East & Africa.Shrink Sleeve Label Applicator Market by CategoryBy Automation, Shrink Sleeve Label Applicator Market is Segmented as:Semi-Automatic
By Labelling Speed, Shrink Sleeve Label Applicator Market is Segmented as:Up to 200 BPM
200 BPM to 400 BPM
400 BPM to 600 BPM
Above 600 BPM
By Container Diameter, Shrink Sleeve Label Applicator Market is Segmented as:Up to 50 mm
50 to 100 mm
100 mm to 150 mm
Above 150 mm