Sleeving Machines Market Projected to Reach USD 4.3 Billion, at a 3.60% CAGR by 2032
Research Reports
Aug 17, 2023
Global Sleeving Machines Market Overview
As of 2022, the sleeving machines market size was valued at USD 3.1 billion. The market’s end use is expected to witness steady growth over the forecast period, with projections reaching USD 3.2 billion in 2023 and USD 4.3 billion by 2032. This represents a compound annual growth rate (CAGR) of 3.60% during the forecast period from 2023 to 2032.
Market Summary
Sleeving machines, also known as labelers or shrink sleeve applicators, are automated machines used in various industries for applying sleeves or labels onto containers, bottles, or packages. These machines play a crucial role in enhancing product identification, branding, and promotional opportunities for manufacturers. They are widely used in the packaging, food and beverage, pharmaceuticals, and personal care industries, among others.
Key Companies in the Sleeving Machines market
Key Companies in the Sleeving Machines market include
- Krones AG
- Fujiseal International
- Finpac Group
- Pack Leader Machinery Inc.
- Sleever International
- Tripack Group
- Axon Corporation
- USLUGA SHPK
- Label-Aire Corporation
- Benison Group
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Market Drivers
The need for attractive and informative packaging was driving the demand for sleeving machines. Brands were increasingly using sleeves and labels to differentiate their products on the shelves and provide consumers with more detailed information.
Consumer demand for personalized and customized products was leading to the adoption of sleeving machines that could handle variable data and produce unique packaging for each product.
The rise of e-commerce and direct-to-consumer sales was boosting the need for efficient packaging and labeling solutions. Sleeving machines that could handle a wide range of product shapes and sizes were in demand to meet the requirements of online retail.
Market Restraints
The cost of purchasing and installing sleeving machines could be relatively high, especially for advanced and automated models. This initial investment could be a significant barrier for smaller businesses or companies with budget constraints.
Introducing sleeving machines into existing production lines might require adjustments and integration with other equipment. Ensuring seamless integration without disrupting the overall production process could pose challenges.
Some sleeving machines, especially those with advanced features and automation, could be technically complex to operate and maintain. This could lead to the need for specialized training for operators and maintenance personnel.
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Sleeving Machines Market Segmentation
Sleeving Machines Automation Outlook
- Automatic
- Semi-automatic
- Manual
Sleeving Machines Machine Type Outlook
- Shrink Sleeve Labeling Machine
- Stretch Sleeve Labeling Machine
- Roll-fed Labeling Machine
- Tamper-evident Banding Machine
- Heat Tunnel Machine
Sleeving Machines End Use Outlook
- Food & Beverages
- Pharmaceuticals
- Cosmetics & Personal Care
- Chemicals
- Automotive
- Other Industrial
Sleeving Machines Regional Outlook
- North America
- Europe
- Asia-Pacific
- Rest of the World
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Regional Analysis
The research documents by MRFR indicate that The North American Region secured the leading position across the global Sleeving Machines industry in 2021 with the largest contribution of nearly 45.80%. The Region has Mexico, Canada, and the U.S. as the leading development contributors. Further, the U.S. Sleeving Machines Market held the largest market share, and Canada was the fastest-growing North American Region. The main aspect supporting regional market expansion is the growing e-commerce industry, particularly in the U.S. Furthermore, the rising adoption of standards and regulations about labeling, tracing, and serialization is also considered to be one of the vital aspects causing a surge in the performance of the regional market in the last few years.
The European Region anticipates ensuring the second spot across the global Sleeving Machines industry over the coming years. The Region has France, Germany, and the U.K. as the leading development contributors. Further, the German Sleeving Machines Market held the largest market share, and the U.K. was the fastest-growing Market in Europe. The Region’s main aspect supporting regional market expansion is an increase in the demand for functional food & beverage items coupled with the increased spending on pharmaceutical & healthcare products. Furthermore, the increased demand for this equipment is labeling laws relating to product information, and safety is also considered to be one of the vital aspects causing a surge in the performance of the regional market in the last few years.
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