Market Size of Global Shrink Sleeve Applicator Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.71 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Shrink Sleeve Applicator Market Analysis
The Global Shrink Sleeve Applicator market is expected to register a CAGR of 4.71% over the forecast period from 2022 to 2027. Consistently rising production output from pharmaceutical, food, beverage, and personal care industries led manufacturers across the globe to utilize and adopt shrink sleeve label applicators for labeling purposes on bottles.
Shrink Sleeve Applicator is used for smooth, high speed, and efficient operations output. Shrink Sleeve applicators are very time efficient, giving a high-performance product range ensuring minimal cost with high-quality output using technology. Technological advancement related to packaging machinery is one of the crucial factors that propel the demand for shrink sleeve label applicators in the market.
Manufacturers promote and brand the packaged product with high quality and attractive labeling. This trend leads to an upsurge in demand for packaging machinery, which can efficiently achieve this goal. The shrink sleeve applicators are one of the best options to achieve this goal of manufacturers.
The rising demand for fully mechanized and automated equipment that can eliminate wastage and the versatility of handling glass and plastic containers are among the key drivers to propel the market in the future.
The COVID-19 outbreak caused significant disruption in the supply chain in the labeling and packaging industry and has affected the demand and supply chain. However, governments worldwide have deemed food and pharma-related businesses essential to offset the effects of covid 19 on the market. Changing trends to adapt packaged food because of hygiene will increase the demand for shrink sleeve applicators in the forecast period.
The shrink sleeve applicator market has been facing challenges like higher installation costs of machinery and new technological innovation with the use of cutting edge technologies in automation like plc, SCADA, and HMI in manufacturing units, and increasing trends towards eco-friendly labels soon may offset the market for the vendors.
