By 2030, the middle-class population in Asia-Pacific is expected to increase from **** billion people in 2015 to **** billion people. In comparison, the middle-class population of sub-Saharan Africa is expected to increase from *** million in 2015 to *** million in 2030. Worldwide wealth While the middle-class has been on the rise, there is still a huge disparity in global wealth and income. The United States had the highest number of individuals belonging to the top one percent of wealth holders, and the value of global wealth is only expected to increase over the coming years. Around ** percent of the world’s population had assets valued at less than 10,000 U.S. dollars, while less than *** percent had assets of more than one million U.S. dollars. Asia had the highest percentage of investable assets in the world in 2018, whereas Oceania had the highest percentage of non-investable assets. The middle-class The middle class is the group of people whose income falls in the middle of the scale. China accounted for over half of the global population for middle-class wealth in 2017. In the United States, the debate about the middle class “disappearing” has been a popular topic due to the increase in wealth among the top billionaires in the nation. Due to this, there have been arguments to increase taxes on the rich to help support the middle class.

According to data published by the Pew Research Center, India is estimated to have had a shrinking middle class as a result of the global recession brought on by the COVID-19 pandemic. It is estimated that the number of people in the middle income tier in India decreased from ** million to ** million following the COVID-19 global recession.

The global sleeve label shrinking machine market is experiencing robust growth, driven by increasing demand across diverse sectors like food and beverage, pharmaceuticals, and chemicals. The market size in 2025 is estimated at $2.5 billion, exhibiting a Compound Annual Growth Rate (CAGR) of 6% from 2025 to 2033. This growth is fueled by several factors, including the rising preference for attractive and tamper-evident packaging, automation in packaging lines to improve efficiency and reduce labor costs, and the increasing adoption of sustainable packaging solutions. The heat shrinking and tray shrinking segments dominate the market based on machine type, while the food and beverage industry holds the largest application share due to high consumption and stringent regulatory compliance requirements. Key players like Harikrushna Machines Pvt. Ltd., Packleader, and Accraply are continuously innovating to meet the growing demands for advanced features such as high-speed operation, improved precision, and enhanced integration with existing packaging systems. The competitive landscape is characterized by a mix of established players and emerging companies, creating a dynamic environment with ongoing product development and strategic partnerships. Furthermore, regional variations in market growth are expected, with North America and Europe maintaining strong positions due to established manufacturing and packaging industries. However, Asia-Pacific is poised for significant expansion, driven by rapid industrialization, growing consumer demand, and a burgeoning middle class. Despite the positive outlook, certain restraints may hinder market growth, including high initial investment costs for advanced machines, technological complexities in integrating these machines into existing production lines, and concerns about environmental sustainability linked to the use of specific shrinking films. Nevertheless, the overall market trajectory indicates substantial growth potential over the forecast period. The industry's focus on technological advancements, coupled with increasing demand for efficient and attractive packaging solutions, will continue to drive market expansion in the coming years.