The growing number of choices available for the customers for choosing products indirectly causing manufacturers difficulty in differentiating the product with competitors. Hence packaging especially sleeve labels play prominent role in product visibility. It also helps in improving the aesthetic appearance of product. This is primarily beneficial to the manufactures who want their products to be easily recognizable and attractive. The changing consumer habits and growing inclination towards packaged goods is estimated to be the key reason for the growth of global sleeve label packaging. The wide application sector such food and beverages, pharmaceutical, cosmetics, home care and personal care products and increasing product categories within the mentioned application sector are the factors which are estimated to affect the growth of the global sleeve label market.
The major driver for the global sleeve label market is the growing demand for packaged food and beverages and rapidly increasing number of products in the packaged food segments. Growing inclination of consumers towards packaged foods and beverages is estimated to benefit the global sleeve label market. Another major driver for the global sleeve label market is the growing cosmetic and personal care industry. The desire for better personality and physical appearance are the major factors in the growth of the cosmetic and personal care market which is anticipated to drive the global sleeve label market. Pharmaceutical is also an important growth contributor in the global sleeve label market.
The advantage such as better brand identity, improved product visual presence and superior marketing opportunity is estimated to drive the global sleeve label market. On the other hand global sleeve label market is becoming fragmented which is estimated to push the global sleeve label industry to operate under tough competition.
The opportunity for the global sleeve label market lies in providing innovative solution for the manufactures. The sleeve market is estimated to have huge opportunities in producing recyclable products with low cost structure. The sleeve label market is estimated to have vast opportunity in digital sleeve labels.
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The global sleeve label market is segmented on the basis of type, application method, materials, end use sector and geography. On the basis of type the global sleeve label market is segmented into Shrink and stretch labels. The shrink sleeve label is estimated to lead the global sleeve label market due to its ease in application. Global sleeve label market is segmented on the basis of application method into Pressure Sensitive, Heat Transfer, In-Mold, Heat-Shrink & Stretch and Glue-Applied. On the basis of material the global sleeve label market is segmented into paper, plastic and others. On the basis of end use application sector the global sleeve label market is segmented into food and beverages, Cosmetics and personal care, Home Care, Industrial goods and others. The food and beverages end use sector is estimated to be the largest contributor in terms of value and volume for the global sleeve label market.
On the basis of geography the global sleeve label market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA) and Latin America. Europe is estimated to be the largest market for the global sleeve label market. Asia pacific followed by Europe is estimated to be the fastest growing market. The growing urban population and increasing per capita expenditure are estimate to be the major factors in the growth of Asia pacific sleeve label market. Followed by Asia Pacific, North America is estimated to grow in global sleeve label market. The rapidly growing economies in Middle East and Africa is also estimated to show a significant growth in the global sleeve label market.