Scope of the Study
The global USD 3 billion shrink sleeve market is growing at about 7% each year. This packaging method provides a full-body label that wraps around the entire container, hence offering a 360-degree branding and message about the product.
The market study is being classified by Type (Standard, Full Body, Shrink Bands and Combination Packaging), by Application (Food & Beverages, Home & Personal Care, Pharmaceuticals, Agro-Based Packaging and Others) and major geographies with country level break-up.
Berry Global Inc. (United States), Bonset America Corporation (United States), CCL Industries Inc. (Canada), Fuji Seal International Inc. (Japan), BLUE LABEL PACKAGING COMPANY (United States), Hammer Packaging Inc. (United States), Macfarlane Group PLC (United Kingdom), Irplast S.p.A.(Italy), KRIS FLEXIPACKS PVT. LTD. (India) and WALLE CORPORATION (United States) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Huhtamaki Oyj (Finland), Polysack Flexible Packaging Ltd. (Israel) and Paris Art Label Company Inc. (United States).
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new modifications in the existing products and collaborations as per their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a large competitive advantage through the combined synergies. Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Shrink Sleeve Packaging market throughout the predicted period.
Segment Analysis
AdvanceMarketAnalytics has segmented the market of Global Shrink Sleeve Packaging market by Type, Application and Region.
On the basis of geography, the market of Shrink Sleeve Packaging has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Rising urbanization coupled with population growth
- Increasing Durability Factor With Respect to the Containers
- Growth of the Food & Beverage Industry
Market Trend
- Acceptance of using these shrink sleeve packaging by manufacturers, owing to the factor that they can deliver products in unique shaped containers to stand out from the competition. Also, increasing numbers of prominent design possibilities.
Restraints
- Regulations lay down by the Government for Packaging and Labelling
Opportunities
- Increase in the Inclination of Manufacturers towards Branding and Promoting of the Packaged Products
Market Leaders and their expansionary development strategies
On July 1st, 2019 - Berry Global Group, Inc. announced the completion of its acquisition of RPC Group Plc (RPC) for a purchase price of approximately USD 6.5 billion, which includes approximately USD 4.3 billion of cash paid for the equity interest in RPC and USD 2.2 of net debt and estimated transaction related costs, subject to closing adjustments. The combination of Berry and RPC creates a leading global supplier of valued-added protective solutions and one of the world’s largest plastic packaging companies.
Key Target Audience
Packaging Industry and Regulatory Bodies
Customization in the Report Available:
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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