SLEEVE LABELS MARKET ANALYSIS
The global sleeve labels market is projected to reach around US$ 18.6 billion by the end of 2027, in terms of revenue, growing at CAGR of 5.4% during the forecast period (2019-2027).
Market Trends
The growing trend of digital printing around the globe and sleeve label and most of the sleeve label manufacturers are focusing on offering highly attractive and customizable products that are expected to propel the market growth. According to the report by Smithers Pira, in 2017, digital printing accounts for 16.2% of the global print market value and 2.9% of the volume. Therefore, growing digital printing is expected to foster market growth.
Rising trend of super stretch sleeves label market which was first launched by CCL Industries Inc., is expected to augment the market growth of sleeve labels. Super stretch sleeves label can be applied to any size and shape of the container without any heat or adhesives. According to the Coherent Market Insight, the Shrink label accounted for over 60% of the overall sleeve label market in 2015. As compared to shrink labels, stretch labels provide high elasticity and are comparatively low priced. Moreover, it is projected to gain traction across the food & beverage industry.
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