Global Paper Sleeves Market Expected to Reach USD 2.6 Billion by 2034 Amidst Growing Demand in the Food and Beverage Industry | Future Market Insights, Inc.
NEWARK, Del, Aug. 29, 2024 (GLOBE NEWSWIRE) -- The global paper sleeves market is on track for significant growth, with a projected increase in market value from USD 1.7 billion in 2024 to USD 2.6 billion by 2034. This growth reflects a compound annual growth rate (CAGR) of 4.6% over the next decade, signaling robust demand across various industries.
Paper sleeves are extensively used in the food and beverage industry for various purposes, including hot beverages, cold drinks, water bottles, and other packaged foods. The increasing consumption of these products is driving the demand for paper sleeves, which are essential for protecting against heat, impact, and contamination.
Paper Sleeves Contribute in Sustainability
Paper sleeves is highly contributing to sustainability in the global packaging industry. Paper sleeves is manufactured from biodegradable and renewable material sources which is the most sustainable way. Businesses can use paper sleeves to create professional-looking printed materials while minimizing their environmental impact. Sustainability is concerned with the entire lifecycle of the product such as including the source to end of the product. Companies should consider forests that are responsibly managed, have eco-friendly production processes, and use recycled material. Paper sleeves ticks all these boxes and is a better alternative to plastic sleeves. Production of these papers should be aligned with sustainable practices and recycling initiatives to minimize the environmental impact. The adoption of paper sleeves will result in supporting sustainable efforts in the packaging industry, contributing to a greener and more sustainable future.
Customized Printing Applications of Paper Sleeves
Manufacturing industries provide customized printing options for various applications as per customer demand. Companies can harness advanced printing technologies for paper sleeves, ensuring precision in high-quality graphics. Businesses can gain a competitive edge by meeting the demand for customized packaging with intricate details, vibrant colours, and innovative designs, catering to discerning consumers seeking unique and visually appealing products.
Addressing the increasing demand for branded packaging by offering paper sleeves with tailored personalization options can help the market players to capitalize on the trend. Businesses can be able to imprint their distinct identity through personalized designs, logos, and messaging, elevating the packaging to a unique and memorable level.
Companies can provide innovative printing solutions for paper sleeves, integrating cutting-edge techniques to meet the evolving demand for unique packaging. Customized packaging can embrace technologies that go beyond traditional methods, providing a canvas for creativity and ensuring your product stands out in the competitive market.
“The paper sleeve market is anticipated to showcase robust growth, driven by environmental sustainability trends, regulatory support, and evolving consumer preferences. While challenges such as cost competitiveness and durability need to be addressed, the market presents ample opportunities for innovation and expansion, particularly in emerging regions.”- Says a Lead Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).
Key Takeaways from the Global Paper Sleeve Market
- Recycled paper is anticipated to grow at faster rate in upcoming period. It is currently capturing the market share of 24%. The effects of ongoing innovations in recycling technology and the push for circular economy practices by the companies as well as governments is pushing its growth.
- Paper sleeves are prominently used in food and beverage industry that captures 27.8% of market share in current period. The growth is attributed to prominent growth and expansion of food and beverage industry.
- Protective paper sleeves are anticipated to be more used in global industry. These are the most essential and widely used because their primary function is to safeguard the product. It also serve to insulate hot or cold items, prevent spills, and protect the product from damage during handling or transportation.
- Europe and North America capture maximum market share in 2024 recording sluggish CAGR in the forecast years. South Asia & Pacific and East Asia to lead in growth rate and revenue generation in the assessment years.
Emerging E-commerce Industry in Europe Propelling Demand
The growing e-commerce industry and rising technological advancement in the packaging industry will increase the demand for better protective packaging for sensitive products such as products that are made up of glass, crockery, electrical products, phone and laptop screens, and spectacles. Paper sleeves offers various potential advantages such as recyclability, degradability in soil, and sustainability. It also offers features that help in minimizing wastage as well as environmental effects. Thanks to these characteristics, e-commerce companies globe are gradually shifting towards paper sleeves for packaging their products, thereby positively influencing the market development. Adoption of paper sleeves by companies for packaging products will decrease their operation cost due to the recyclable and reusable nature and reduce the risk of breaking items.
Key Players of the Paper Sleeve Industry
- Mondi plc
- International Paper Company
- the Royal NNZ Group bv
- WestRock Company
- Smurfit Kappa Group
- PakFactory
- Gilchrist Bag Manufacturing LLC
- VERTPAC
- Greenerprinter
- Packman Packaging
- Viessta Papers
- Panmer Ltd.
- A-ROO Company
- Vulcan Information Packaging (NAPCO)
- ALYA PACKAGING
- Suzhou Accum Packaging Co., Ltd.
- McNairn Packaging
- Blue Lake Paper Products
- Information Packaging
- Maxpack
- ORPA Papír a.s.
- Zhejiang Pando EP Technology Co., Ltd.
- Trident Paper Box Industries
- Branded Paper Cup
To Gain In-Depth Insights on Market, Browse Complete Report: https://www.futuremarketinsights.com/reports/paper-sleeve-market
Key Segments of the Paper Sleeve Industry
By Material:
Paper sleeve industry is divided into kraft paper, corrugated paper, recycled paper, specialty paper, and others.
By Functionality:
Paper sleeve industry is segregated into protective sleeves, decorative sleeves, and informative sleeves.
By Distribution Channel:
The industry is classified by direct sales, and indirect sales.
By End Use:
The industry is classified by end use as food and beverage, retail and e-commerce, healthcare and pharmaceuticals, electronics & electrical, personal care and cosmetics, and others (industrial, promotional, etc.).
By Region:
Key countries of North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East and Africa (MEA), have been covered in the report.
Authored by:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
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The shrink sleeve labels market growth is likely to record a CAGR of 6% through 2032. The shrink sleeve labels market is likely to be valued at US$ 28.47 Billion by 2032.
The global collapsible sleeve containers market is set for significant expansion, with an anticipated valuation of US$ 7,200 by the year 2033. This market displays a robust trend, featuring a noteworthy CAGR of 4.36%, which is expected to endure until 2033.
The global shrink sleeve label applicator market size is estimated to reach US$ 1,949.6 million by 2033, expanding at a CAGR of 5.3%.
Stretch sleeve label market analysis has shown a notion of advancement, with a CAGR of 3.10% predicted from 2024 to 2034 with valuation is projected to be spurred on to US$ 3.6 billion by 2034.
The global sales of rigid sleeve boxes is anticipated to reach a value of USD 2,907.4 million by 2034. Sales revenue of rigid sleeve boxes industry is projected to rise at a CAGR of 3.3% over the forecast period between 2024 and 2034.
The paper bag market size is anticipated to reach a valuation of US$ 8.7 billion by 2034, progressing at a CAGR of 4.3% from 2024 to 2034.
The kraft pouch market share is estimated to reach USD 2.4 billion in 2034 and is set to exhibit a CAGR of 4.3% in the forecast period from 2024 to 2034.
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