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GCC Shrink Sleeves Market Size (2024 - 2029)

The GCC shrink sleeves market is poised for growth, driven by factors such as urbanization, industrial expansion, and increased demand for packaged foods and sustainable materials in countries like Saudi Arabia, the United Arab Emirates, Qatar, and Kuwait. The market's expansion is further supported by rising health concerns and the growing use of cosmetic products, which boost demand in the healthcare and cosmetics sectors. However, the market's potential growth is challenged by economic slowdowns linked to low crude oil prices and reduced upstream oil and gas activities, which have historically impacted the region's economy.

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Market Size of GCC Shrink Sleeves Industry

GCC shrink sleeves market
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 2.00 %
Market Concentration Low

Major Players

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*Disclaimer: Major Players sorted in no particular order

GCC Shrink Sleeves Market Analysis

The GCC shrink sleeves market is expected to register a CAGR of 2% during the forecast period (2021-2026). Plastic has modified the packaging industry's functioning overall. Packaging solutions that are cost-effective, lightweight, durable, and comfortable to the users are factors that have increased the use of plastics as packaging material.

  • The GCC countries, such as Saudi Arabia, the United Arab Emirates, Qatar, and Kuwait, are also anticipated to play a major role in the overall growth of the shrink sleeves market due to the urbanization and growth of industries, rise in the urbanized population, increasing demand for packaged foods, a renaissance of the labeling and packaging industry in member countries, and increasing emphasis on the use of sustainable materials.
  • Rising health issues in the region and increasing the use of cosmetic products are also expected to contribute to the rising demand for the shrink sleeves market in the healthcare and cosmetics sectors.
  • On the contrary, investments into manufacturing are majorly spurred by the recent economic slowdown caused by low crude oil prices and reduced activity in the upstream oil and gas industry. The years 2017 and 2018 had a severe impact on the country's economy. Thus, it may indirectly impact the shrink sleeves market negatively.

GCC Shrink Sleeves Industry Segmentation

Shrink sleeves are a relatively new type of label, which are full-color, 360-degree printed labels that utilize heat in the application process to confirm the label to the shape of the product where it is applied. These labels are printed on either plastic or polyester film material. The durability of shrink sleeves makes them well-suited for products that encounter moisture or friction.

By Material
Polyvinyl Chloride (PVC)
Polyethylene Terephthalate (PET)
Polyethylene (PE)
Other Types of Materials
By End-user Industry
Beverage
Food
Pharmaceutical and Healthcare
Cosmetics and Toiletries
Household Chemicals
Other End-user Industries
By Country
Saudi Arabia
United Arab Emirates
Qatar
Kuwait
Rest of GCC
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GCC Shrink Sleeves Market Size Summary

The GCC shrink sleeves market is poised for growth, driven by the increasing urbanization and industrial expansion in countries like Saudi Arabia, the United Arab Emirates, Qatar, and Kuwait. The demand for cost-effective, lightweight, and durable packaging solutions is on the rise, fueled by the growing urbanized population and the burgeoning packaged food sector. The region's labeling and packaging industry is experiencing a renaissance, with a strong emphasis on sustainable materials. Additionally, the healthcare and cosmetics sectors are witnessing a surge in demand for shrink sleeves due to rising health awareness and the increased use of cosmetic products. However, the market faces challenges from economic slowdowns linked to low crude oil prices and reduced oil and gas activities, which could indirectly impact market growth.

The market is characterized by the advantages of PET material, such as protection against discoloration and liquid spills, which supports the growth of PET shrink sleeves. Saudi Arabia's focus on increasing PET recycling is expected to further drive demand. The United Arab Emirates, with its diverse cultural influences, sees growth in the food industry, which in turn boosts the shrink sleeves labels market. Despite economic challenges, such as the introduction of VAT and declining consumer confidence, the demand for shrink sleeves remains supported by increased beauty and personal care awareness in Saudi Arabia. The market is fragmented, with numerous regional and international players, necessitating better control of the value chain and strategic pricing to maintain competitiveness. The ongoing developments in healthcare, pharmaceuticals, and cosmetics, aligned with Saudi Arabia's Vision 2030, are anticipated to be key drivers of demand for plastic packaging products.

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GCC Shrink Sleeves Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Industry Value Chain Analysis

    3. 1.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.3.1 Bargaining Power of Suppliers

      2. 1.3.2 Bargaining Power of Consumers

      3. 1.3.3 Threat of New Entrants

      4. 1.3.4 Threat of Substitutes

      5. 1.3.5 Intensity of Competitive Rivalry

    4. 1.4 Market Drivers

    5. 1.5 Market Challenges

    6. 1.6 Influence of COVID-19 on the Shrink Sleeve Industry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Material

      1. 2.1.1 Polyvinyl Chloride (PVC)

      2. 2.1.2 Polyethylene Terephthalate (PET)

      3. 2.1.3 Polyethylene (PE)

      4. 2.1.4 Other Types of Materials

    2. 2.2 By End-user Industry

      1. 2.2.1 Beverage

      2. 2.2.2 Food

      3. 2.2.3 Pharmaceutical and Healthcare

      4. 2.2.4 Cosmetics and Toiletries

      5. 2.2.5 Household Chemicals

      6. 2.2.6 Other End-user Industries

    3. 2.3 By Country

      1. 2.3.1 Saudi Arabia

      2. 2.3.2 United Arab Emirates

      3. 2.3.3 Qatar

      4. 2.3.4 Kuwait

      5. 2.3.5 Rest of GCC

GCC Shrink Sleeves Market Size FAQs

The GCC Shrink Sleeves Market is projected to register a CAGR of 2% during the forecast period (2024-2029)

ASPCO, SAUDI MODERN PACKAGING CO. (PRINTOPACK), PRIMEX ( Al Mubadala Group-Riyadh), Golden Line Printing & Packaging and Matrixpack are the major companies operating in the GCC Shrink Sleeves Market.

GCC Shrink Sleeves Report Snapshots

GCC Shrink Sleeves Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)