Market Trends of Global Shrink Sleeve Applicator Industry
This section covers the major market trends shaping the Shrink Sleeve Applicator Market according to our research experts:
Food Packaging Accounted to Hold the Major Market Share
The use of shrink sleeve applicators in food packaging is mainly to enclose or wrap food products to protect them from tampering or contamination from chemical, physical, and biological sources, reflecting the manufacturer details the new laws made it mandatory to emboss the main ingredient on the packaging all these can be done efficiently and at a fast pace with Shrink Sleeve applicators.
With the increase in the population of over 9 billion, the manufacturers in the packaging industry require automation and equipment to achieve the task efficiently while maintaining quality. All these can be delivered by using shrink sleeve applicators with attractive and quality packaging. The quality and quantity of food packaging will have to increase considerably.
The food packaging industry is going through a transformation with the traditional breakthrough technology of casting labels. When it comes to labeling the product using shrink label applicators, the equipment now can integrate three to four trapping label machine varieties into one. It only needs to change the modules to realize the casting label of different types and varieties.
In 2004, the Food Allergy Labeling and Consumer Protection Act was passed, and In 1906, Food and Drugs Act (prohibited interstate commerce in misbranded and adulterated foods, drinks, and drugs.) in the United States. These regulations drive the shrink sleeve applicator market for the requirement of quality packaging and labeling of food products.
Advances in food packaging play a primary role in keeping the food supply safe, and keeping the label intact is very important because of customs regulations. Shrink sleeve applicator equipment ensures quality Packaging with perfect labeling maintaining standard labeling enabling food products to travel safely for long distances from their point of origin.
Europe Accounts to Hold the Major Share of the Market
As per the report published by the European Commission, the total EU agri-food trade reached a value of EUR 28.3 billion in January 2022, a 25% increase compared to 2021. Exports reached EUR 15.8 billion, while imports were valued at EUR 12.5 billion, representing an increase of 16% and 38%, respectively.
The successful promotion of the European union's open and accessible trade policy drives the success of European Union agricultural trade. The excellent reputation of products as sustainably produced, safe, nutritious, and of high quality reflected on the labels of the packaging products using the shrink sleeve applicators equipment is driving the market in the region.
Switzerland, China, the Middle East, and North Africa were the major growth regions for EU agri-food exports. The value of EU exports fell most to Turkey, the United States, Japan, and Singapore. The custom requirement for exports and imports requires the manufacturer to follow the regulatory laws regarding labeling the food products. Failing short may result in the rejection of the entire batch causing loss to the manufacturer. The shrink sleeve applicators' technological innovation labeling of various products becomes easy and efficient.
Before the Russian invasion, imports from Ukraine had grown by 88% YOY in January 2022 to reach a value of EUR 1 billion, primarily driven by cereals imports, which grew by EUR 258 million (136%). Elsewhere, imports from the US grew by 16%, while imports from China increased by 67%. Cereal shipping includes chances of rupturing the packages and spoilage of the product but can be avoided by using group packaging with a shrink sleeve aaplicator using PVC film (source: European Commission).
The largest export increase was noted to the United Kingdom, the United States, and China, for 40% of all EU agri-food exports. Exports to the UK grew by EUR 894 million (+36%) to 2020 levels after a sharp decline last year. The primarily increase in exports of vegetables, poultry & eggs, beer, and other beverages, processing and labeling of products at this level need technology, which can process the labeling at a very high rate maintaining the uniformity in quality which shrink sleeve applicators can achieve in no time.
