In 2023, the worldwide shrink label machine market is anticipated to reach a valuation of US$ 540.9 million, with a projected growth rate of 4.1% leading to a total of US$ 808.4 million by 2033.
India’s shrink-label machine market is set for substantial growth, with a projected Compound Annual Growth Rate (CAGR) of 5.4% during the forecast period. This growth can be attributed to several factors, with the pharmaceutical industry playing a significant role.
India has made remarkable strides in 2021 by increasing its pharmaceutical exports by approximately US$ 2.5 million globally, according to data from the Ministry of Pharmaceutical Sciences. India ranks third in pharmaceutical production and has maintained a steady growth at a CAGR of 9.4% over the past decade. During the pandemic, India supplied medicines to 120 countries, highlighting its global reach and influence in the pharmaceutical sector. Notably, eight of the 20 largest generic drug companies in the world are based in India.
The booming pharmaceutical industry in India is a primary driver behind the increased demand for shrink-label machines in the country. As the pharmaceutical sector continues to expand, the need for efficient labeling and packaging solutions, including shrink-label machines, is expected to rise significantly.
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Competitive Landscape Analysis
The market survey conducted by FMI offers key trends and challenges in the packaging industry and its consequent impact of Shrink Label Machine market. The survey provides a thorough market share analysis to offer an in-depth analysis of prevailing competition.
It also provides a list of leading players and recent development in the global Shrink Label Machine market. Some of the players in the global Shrink Label Machine market are
- 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.
- others
Key Shrink Label Machine Market Takeaways and Projections
- The U.S. is expected to lead the North America Shrink Label Machine market, projecting the fastest growth in the region between 2022-2032
- Germany and the U.K. are expected to, collectively, hold the largest share in the Europe market over the assessment period.
- China will dominate the East Asia market, accounting for the largest demand share during the forecast period.
- India is expected to emerge as a highly remunerative market in South Asia, contributing the significant revenue share in the region through 2032.
Key Features of Shrink Label Machines
- Precise Temperature Control: Shrink label machines are equipped with advanced temperature control systems, ensuring the labels shrink uniformly without causing damage to the containers.
- High-Speed Application: These machines can handle a high volume of products per minute, streamlining the packaging process and increasing overall productivity.
- Compatibility with Various Materials: Shrink label machines are compatible with different types of shrinkable films, including PVC, PET, and OPS, providing businesses with flexibility in choosing the right material for their products.
- User-Friendly Interface: Most modern shrink label machines come with user-friendly interfaces and programmable settings, allowing operators to easily adjust settings and switch between products.
- Low Maintenance Requirements: With proper maintenance, shrink label machines have a long lifespan and require minimal servicing, reducing operational downtime.
Applications of Shrink Label Machines
Shrink label machines find applications in a wide range of industries, owing to their versatility and ability to enhance product packaging. Some notable applications include:
- Beverage Industry: In the beverage industry, shrink label machines are commonly used to label bottles of soft drinks, energy drinks, and alcoholic beverages, creating a visually appealing product presentation.
- Food Industry: Shrink label machines find applications in labeling food containers, such as jars of sauces, condiments, and pickles, adding an attractive branding element to the products.
- Cosmetics and Personal Care: Shrink labels are extensively used in the cosmetics and personal care industry to label shampoo bottles, lotion containers, and other beauty products, boosting their visual appeal.
- Pharmaceutical and Healthcare: Shrink label machines are crucial in the pharmaceutical sector, ensuring accurate labeling of medicine bottles and vials, providing essential product information to consumers.
- Household and Cleaning Products: Shrink labels are employed in labeling household cleaning products, such as detergents and disinfectants, making them stand out on store shelves.
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Shrink Label Machine Market: Market Segmentation
By Automation
- Automatic
- Semi-Automatic
By Labelling Speed
- Up to 200 BPM
- 200 BPM to 400 BPM
- 400 BPM to 600 BPM
- Above 600 BPM
By End Use
- Food
- Beverages
- Pharmaceutical
- Chemical & Fertilizers
- Cosmetics & Personal Care
- Construction
- Automotive
- Other Consumer Goods
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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