According to Future Market Insights research, during the projected period, the global shrink label machine market is set to enjoy a valuation of USD 540.9 million in 2023, and further, expand at a CAGR of 4.1% to reach USD 808.4 million by the year 2033. The sales of shrink labels machines are anticipated to bolster with the top 5 companies estimated to hold around 15%-20% of the market by the end of 2022.
Based on the automation, the automatic machine is projected to remain the leading segment among the other material used for manufacturing shrink-label machines. The automatic machine segment is estimated to account for around 72% by the end of 2023.
| Attributes | Details |
|---|---|
| Market Size 2023 | USD 540.9 million |
| Market Size 2033 | USD 808.4 million |
| Value CAGR (2023 to 2033) | 4.1% |
| Collective Value Share: Top 3 Countries (2022E) | 30% - 35% |
According to the FMI analysis, the shrink label machine market revenue totaled USD 521.6 million in 2022. With the propelling demand from the various end-users, the global shrink-label machine market is projected to reach USD 808.4 million by 2033, accelerating at a CAGR of 4.1% during the forecast period.
The shrink-label machine market is estimated to experience a positive growth outlook during the forecast period. A new forecast by FMI anticipates that the shrink-label machine sales will rise from 2023 to 2033 and is projected to create an absolute incremental growth opportunity of USD 286.8 million.
The modernization of the packaging machinery industry to shape shrink label machine market growth. The shrink-label machine market is anticipated to expand 1.5 times the current market value during the forecast period.
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The global shrink label machine market witnessed a CAGR of 3.6% during the historic period with a market value of USD 521.6 million in 2022.
The shrink label machine is becoming a priority for companies who are concerned with branding and advertising aspects. Big players in the packaging industry prefer to shrink label machinery over doing labeling by outsourcing. Over the past decade, companies have started labeling on their own. To avoid the barriers like miss-printing and others, companies prefer labeling along with the production of packaging solutions. Speedy manufacturing has always been a preferred choice of manufacturers. Speedy labeling production line helps the company to maintain the overall demand graphs and produce products accordingly.
The drastically changed Food industry amid the pandemic is projected to drive the demand for shrink-label markets. The changes in the eating habits and lifestyle of the people have increased the usage of labeled food which contains all the detailed information regarding the food product which creates a growth opportunity for the shrink label machine market. Overall, the global shrink-label machine market is anticipated to bolster at a faster pace during the forecast period.
Every industry needs product labels since they include the necessary information about the products. There are a number of standards and regulations pertaining to packaging and labeling, depending on the specific industry. For example, the food and beverage, pharmaceutical, medical, chemical, and fertilizer industries have stringent labeling regulations that specify product-specific labels, barcode standards for logistics and shipping bottles, containers, and more.
Fines may be assessed for failure to adhere to any of these rules and requirements. All manufacturers operating in the market are using labels for regulatory purposes as a result of these circumstances.
Along with this, manufacturers are automating more of their production, packing, and labeling operations. This is done to cut down on unnecessary labor costs. All these factors are likely to push the demand for Shrink label machines upward during the foreseeable future.
Principal Consultant
Based on the Automation Type segment, the automatic machine segment is estimated to remain the leading segment for the Shrink label machine market during the forecast period.
Many large-scale industries are adopting automated manufacturing as well as packaging systems for increasing output. The automatic Shrink label machine provides accuracy with a high productivity rate. It reduces labor demands and provides safety to all labor.
Hence, the automatic segment is expected to account for around 78.4% of the market value share by the end of 2033.
The food & beverages segment is projected to grow at a CAGR of 4.5% during the forecast period. There is rising demand for healthy beverages which contains natural ingredients. The demand for beverage drinks are increasing due to changing lifestyle, increasing disposable income are key factors driving the growth of the food & beverages market. Consumption of food & beverages drives directly affects the sales of the shrink label machine.
India’s shrink-label machine machines market is expected to register a CAGR of 5.4% during the forecast period. A developing country like India has done a tremendous job in 2021 by increasing exports by about USD 2.5 million worldwide, according to facts released by the Ministry of Pharmaceutical Sciences.
India ranks third in pharmaceutical production. Over the last decade, India has grown steadily at a CAGR of 9.4%. India shipped medicines to 120 countries during the pandemic. Eight of the 20 generic drug companies in the world are from India. Overall, the growing pharmaceutical company in India is the major factor augmenting the sales of shrink-label machine machines in India.
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The key players operating in the shrink-label machine market are trying to focus on increasing their sales and revenues by expanding their capabilities to meet the growing demand.
The key players are trying to adopt a merger & acquisition strategy to expand their resources and are developing new technologies to meet customer needs. Also, the players are focusing on upgrading their facilities to cater to the demand. Some of the recent key developments by the leading players are as follows -
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4.1% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Million, Volume in Units, and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Automation, Labelling Speed, End Use, Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Middle East and Africa; Oceania |
| Key Countries Covered | United States of America, Canada, Mexico, Brazil, Germany, United Kingdom, France, Italy, Spain, Russia, China, Japan, India, GCC countries, Australia |
| Key Companies Profiled | Engage Technologies Corporation; U. V. Tech Systems; Shanghai Xinhua Machinery Equipment Co., Ltd.; CHLB Packing Machine Co., Ltd.; KWT Machine Systems CO., LTD.; Shandong Sapphire Packaging Machinery Co., Ltd.; Dongguan Zhenying Machinery; Fuji Seal; Celtheq Industries Inc.; PDC International Corp.; Sleeve Seal; Multi Pack; SA Packaging Machinery; Super Packaging; Allen Pack |
| Customization & Pricing | Available upon Request |
In 2022, the value of the global shrink-label machine market was USD 521.6 million.
During the forecast period, the global shrink-label machine market is anticipated to expand at a CAGR of 4.1%.
The global shrink-label machine market is expected to reach USD 808.4 million by the end of 2033.
During the forecast period, automatic machine segment is likely to be the fastest-growing material segment in the global shrink label machine market.
Rising Consumption of Carbonated and Non-Carbonated Drinks to Boost Sales of Shrink Label Machine Market.
Engage Technologies Corporation, U. V. Tech Systems, Shanghai Xinhua Machinery Equipment Co., Ltd., CHLB Packing Machine Co., Ltd., KWT Machine Systems CO., LTD., Shandong Sapphire Packaging Machinery Co., Ltd., Dongguan Zhenying Machinery, Fuji Seal, Celtheq Industries Inc., PDC International Corp., Sleeve Seal, Multi Pack, SA Packaging Machinery, Super Packaging, Allen Packare the top players supplementing the sales of shrink label machine.
As per the FMI analysis, the Indian Shrink label machine market is projected to expand at a CAGR of 5.4% from 2023 to 2033.
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis and Forecast 6.1. Automation 6.2. Labelling Speed 6.3. End Use 7. Global Market Analysis and Forecast, By Automation 7.1. Automatic 7.2. Semi-Automatic 8. Global Market Analysis and Forecast, By Labelling Speed 8.1. Up to 200 BPM 8.2. 200 BPM to 400 BPM 8.3. 400 BPM to 600 BPM 8.4. Above 600 BPM 9. Global Market Analysis and Forecast, By End Use 9.1. Food 9.2. Beverages 9.3. Pharmaceutical 9.4. Chemical & Fertilizers 9.5. Cosmetics & Personal Care 9.6. Construction 9.7. Automotive 9.8. Other Consumer Goods 10. Global Market Analysis and Forecast, By Region 10.1. North America 10.2. Latin America 10.3. Europe 10.4. South Asia 10.5. East Asia 10.6. Middle East & Africa 10.7. Oceania 11. North America Sales Analysis and Forecast, by Key Segments and Countries 12. Latin America Sales Analysis and Forecast, by Key Segments and Countries 13. Europe Sales Analysis and Forecast, by Key Segments and Countries 14. South Asia Sales Analysis and Forecast, by Key Segments and Countries 15. East Asia Sales Analysis and Forecast, by Key Segments and Countries 16. Middle East & Africa Sales Analysis and Forecast, by Key Segments and Countries 17. Oceania Sales Analysis and Forecast, by Key Segments and Countries 18. Sales Forecast by Automation, Labelling Speed, and End Use for 30 Countries 19. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 20. Company Profile 20.1. Engage Technologies Corporation 20.2. U. V. Tech Systems 20.3. Shanghai Xinhua Machinery Equipment Co., Ltd. 20.4. CHLB Packing Machine Co., Ltd. 20.5. KWT Machine Systems CO., LTD. 20.6. Shandong Sapphire Packaging Machinery Co., Ltd. 20.7. Dongguan Zhenying Machinery 20.8. Fuji Seal 20.9. Celtheq Industries Inc. 20.10. PDC International Corp. 20.11. Sleeve Seal 20.12. Multi Pack 20.13. SA Packaging Machinery 20.14. Super Packaging 20.15. Allen Pack
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Shrink Label Machine Market
