Shrink Sleeve Label Applicator Market Set to Reach US$ 1,949.6 Million by 2033, Driven by Growing Demand Across Industries

NEWARK, DE / ACCESSWIRE / May 31, 2023 / The global Shrink Sleeve Label Applicator Market is forecasted to expand at 5.3% CAGR over the estimated period, as per FMI's analysis. The industry's size is predicted to reach a market value of US$ 1,163.2 million in 2023.

The adoption of shrink sleeve label applicators is rising for bottle labeling in different industries. This is further supported by the increasing production output of food and beverage, pharmaceutical, and personal care industries.

The equipment is observing high demand owing to its capability for high-speed, smooth, and efficient operations. These applicators ensure high performance, minimal cost, and superior-quality output.

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Technological advances in the market are projected to be a vital factor fueling market development. In addition to this, labeling has become a crucial part of product branding and promotion. Due to this, manufacturers are increasingly deploying packaging machinery to achieve these purposes. Shrink sleeve label applicators are one such piece of equipment that makes this goal possible for manufacturers.

Soaring demand for fully automated and mechanized equipment that offers versatility in handling plastic and glass containers, and eliminates wastage is expected to augment the growth trajectory of the market.

With the significantly growing global population, packaging manufacturers need automated equipment that helps in doing the task efficiently, while ensuring quality. Shrink sleeve applicators come to the rescue by offering appealing and quality packaging solutions. The equipment helps meet the substantial quantity and quality of food packaging demands.

Top Highlights from the FMI's Analysis of the Shrink Sleeve Label Applicator Market:

Europe's shrink sleeve label applicator industry acquired a maximum share of 28.2% of the market in 2022.

Germany's market contributed 4.5% market share in the year 2022.

The United Kingdom's shrink sleeve label applicator industry is projected to expand at 3.1% CAGR in the years to come.

North America region is projected to gain more than 19.6% market value in 2023. The United States holds the majority of the regional share and stands out internationally, by acquiring more than 16.4% value share in 2023.

Japan's shrink sleeve label applicator industry is projected to acquire above 6.6% value share in 2023.

India is projected to register a CAGR of 6.7% in the shrink sleeve label applicator industry.

China is expected to account for a 6% CAGR over the forecast period.

Based on the automation category, the automatic segment gained a maximum share of 85.3% in 2022.

Based on end-use, the beverages segment is expected to account for more than 37.3% in 2023.

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How is the Shrink Sleeve Label Applicator Industry Shaping Up?

The shrink sleeve label applicator industry is competitive and at the same time fragmented due to the presence of domestic and international players. Key players are implementing strategies to maintain their prominence in the market.

Leading participants are coming into joint ventures, and collaborations, and releasing new products to satisfy customers' surging demand.

Tripack LLC opened a new manufacturing unit in Florida in May 2022, to cater to the increasing demand for bedecked aluminum cans in the beverages industry. The company is considering establishing a third manufacturing unit in Lakeland, Florida, covering 30,000 sq ft, and offering space for different packaging lines.

CCL Industries Inc., a provider of speciality security, label, and packaging solutions, declared that it is acquiring Singapore-based Lux Global Label Asia Pte Ltd in May 2021.

Key Players-

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.

Others

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Key Segmentations-

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

Table of Content (TOC)

1. Executive Summary

1.1. Global Market Outlook

1.2. Demand-side Trends

1.3. Supply-side Trends

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Market Background

3.1. Market Dynamics

3.2. Scenario Forecast

3.3. Opportunity Map Analysis

4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033

4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022

4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033

5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Automation

5.1. Introduction / Key Findings

5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Automation, 2018 to 2022

Read More Above TOC in Detail

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Applicator Tips Market Analysis: The report offers an accurate evaluation of the market through detailed qualitative insights and verifiable projections about market size. The projections presented in the report have been derived using proven research methodologies and assumptions.

About Future Market Insights, Inc:

Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.

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