The packaging industry has been growing in leaps and bounds and is witnessing an increasing evolution in the various forms of packaging. Sleeves boxes are one such type wherein sleeves are added to the box to enhance the product visibility. These boxes are a unique way to present as well as promote the product in the market. The sleeve boxes possess sleeves which not only acts as a casing but also serve as the visibility enhancer of the product in an exquisite way. Sleeves boxes serve the purpose of cost efficient luxury packaging. Moreover, the sturdy structure of the trays present inside the boxes gives the sleeves relative amount of stability making them highly suitable for storage and transportation purpose. The global sleeve boxes market is expected to witness a healthy CAGR over the forecast period due to growing demand from various end users for light weight yet affordable packaging type.
Sleeve Boxes Market: Market Dynamics
One of the prime factor driving the growth of the global sleeve boxes market is the convenient sleeve design which makes it easier for the consumers for quick loading of the product. Sleeve boxes market is also expected to grow due to rising disposable income of middle class population which is willing to pay for innovative packaging solutions. Sleeve boxes are made from recyclable material which also aids in reducing the carbon footprint, thus acting as a driver for the growth of the market. One factor restraining the growth of the global sleeve boxes market is the high price of the sleeve boxes as compared to other packaging types.
Embossing and digital printing on sleeve boxes according to the needs of the end user is a key trend prevailing in the global sleeve boxes market. The sleeve boxes manufacturers are also providing improved embossing and window patching. Digital printing on the sleeve boxes is expected to create ample opportunities of growth for the global sleeve boxes market over the forecast period.
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On the basis of geography, the global sleeve boxes market is segmented into Latin America, North America, Asia Pacific, Europe, and Middle East & Africa. North America is currently leading the global sleeve boxes market due to a well-established consumer base willing to pay for the aesthetic appeal of the product. North America is followed by Europe which is expected to witness moderate growth over the forecast period.
Certain regions in Europe are witnessing currency fluctuations and are way behind in terms of innovative packaging solutions. Asia Pacific is expected to witness steady growth over the forecast period. Asia pacific manufacturers are carrying out innovation in their packaging forms which is expected to spur the demand of the sleeve boxes market in the region. Latin America is anticipated to witness sluggish growth over the forecast period as compared to all other regions.