AWA Alexander Watson Associates has published AWAreness Report Global Sleeve Label Market 2021, an in-depth study of the dynamic sleeve labeling market.
The study is an update on the status of the sleeve labeling market. It confirms how strongly it has established itself in a relatively short timescale, claiming around 19 percent of the overall global label market. This maturing technology registers strong growth at an annual 3.3 percent. As the study documents, most of the volumes are in heat shrink sleeves, representing around 89 percent of usage, and with the Asian region claiming the highest volumes by far.
Across all the sleeve label formats, the primary end-use sector is the beverage market at 64 percent of volumes, with food-related applications in second place at 16 percent.
In 2020, the Asian convenience stores and restaurants were hit by the lockdowns and restrictions, relaying the impact on the heavily dependent Asian beverage market. Beverages amounting to over 70 percent of the end-use segment for the sleeve label market in Asia left a significant impact on the market. Whereas historically, the Asian market has seen the highest annual growth rates for sleeve labels, in 2020, it experienced a slowdown in its growth, falling short of its initial forecasted yearly growth rate of 5.5 percent and giving way for higher growth rates in 2020 for European and North American markets.
The study examines the different sleeve material substrates used for each format, as well as the structure of the related supply chains, and documents in-depth the regional geographical market characteristics.
From resin manufacture through converting and printing to application technologies, as well as the existing legislative and recycling challenges, AWAreness Report Global Sleeve Label Market 2021 provides a thorough understanding of the technology today and tomorrow for all involved in the market across the value chain and for those considering future entry.
Full details of the AWA Global Sleeve Label Market Study 2021 may be found on the AWA Alexander Watson Associates website. AWA is hosting AWA & TLMI Sleeve Label Industry Conference and Exhibition 2021 in Cincinnati, OH, US, in November 2021.