What Has Been the Growth Trajectory of the Stretch Sleeve & Shrink Sleeve Labels Market?
The stretch sleeve & shrink sleeve labels market has seen considerable growth due to a variety of factors.
•The market size of stretch sleeve & shrink sleeve labels has experienced a robust growth in the past years. The market, which is anticipated to be worth $15.53 billion in 2024, is projected to rise to $16.59 billion in 2025, registering a compound annual growth rate (CAGR) of 6.8%.
Factors such as brand differentiation, product visibility, compliance to regulations, labeling prerequisites, consumer convenience and sustainability initiatives have contributed substantially to the growth observed in the historic period.
What Does the Future Hold for the Stretch Sleeve & Shrink Sleeve Labels Market?
The stretch sleeve & shrink sleeve labels market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the market size for stretch sleeve & shrink sleeve labels is anticipated to experience substantial growth, reaching "$21.67 billion in 2029 with a compound annual growth rate (CAGR) of 6.9%.
This progress during the projected period can be ascribed to factors such as its increasing use in the beverage sector, the rise of e-commerce packaging, emphasis on recyclability, the introduction of intelligent packaging, as well as globalization and standardization. During the forecast period, the major trends to watch include the surging demand for eco-friendly packaging, advancements in printing technology, development of e-commerce packaging solutions, integration of intelligent packaging, compliance with regulations, and adherence to labeling standards.
What Main Forces Are Fueling Expansion In The Stretch Sleeve & Shrink Sleeve Labels Market?
The growth of stretch sleeve and shrink sleeve label markets is projected to be propelled by the rising demands in the food and beverage industry. This industry includes all companies engaged in the processing, packaging, and distribution of raw food items. Stretch sleeve labels and shrink sleeve labels, which are made of flexible materials that can be expanded or contracted to snugly fit around a container and offer a 360-degree view, are widely used in the food and beverage sectors for packaging and brand purposes. The World Bank Group, a US-based International Trade and Development organization, forecasted in October 2024 that our global population will touch the mark of 10 billion by 2050. This population surge will call for a 60% increase in food production to satisfy the rising demand in the wake of the hurdles posed by fast-paced climate change. Consequently, the escalating demand in the food and beverage industry is fuelling the expansion of the stretch sleeve and shrink sleeve label markets.
What Are The Primary Segments In The Global Stretch Sleeve & Shrink Sleeve Labels Market?
The stretch sleeve & shrink sleeve labels market covered in this report is segmented –
1) By Type: Shrink Sleeve, Stretch Sleeve
2) By Polymer Film: Poly Vinyl Chloride (PVC), Polyethylene terephthalate glyco (PETG), Oriented Polystyrene (OPS), Polyethylene (PE), Other Polymer Films
3) By Embellishing Type: Hot Foil, Cold Foil, Other Embellishing Type
4) By Printing Technology: Rotogravure, Flexography, Digital Printing, Other Printing Technology
5) By Application: Food, Soft Drinks, Alcoholic Drinks, Cosmetics And Household, Pharmaceutical, Other Applications
Subsegments:
1) By Shrink Sleeve: Printed Shrink Sleeves, Plain Shrink Sleeves, Multi-Pack Shrink Sleeves
2) By Stretch Sleeve: Printed Stretch Sleeves, Plain Stretch Sleeves, Multi-Pack Stretch Sleeves
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Which Key Trends Are Driving Changes In The Stretch Sleeve & Shrink Sleeve Labels Market?
Emerging advancements in product development have become a major trend in the stretch sleeve and shrink sleeve label market. To retain market dominance, companies in this sector are turning towards inventive solutions. One example is CCL Industries Inc., a leading label manufacturer based in Canada, which introduced a stretch sleeve with a 30-micron thickness in January 2023. This super-thin stretch sleeve offers extreme durability, being much thinner than the typical 45-micron sleeves. It also requires less raw material, aiding in the reduction of the product's carbon emissions.
Who Are the Key Players in the Stretch Sleeve & Shrink Sleeve Labels Market?
Major companies operating in the stretch sleeve & shrink sleeve labels market include:
• Berry Global Inc.
• CCL Industries Inc.
• Huhtamäki Oyj
• Klöckner Pentaplast Group
• Fuji Seal International Inc
• Hammer Packaging Corp.
• Sleeveco Inc.
• Amcor PLC
• Fort Dearborn Company
• Clondalkin Group Holdings B.V.
• Taghleef Industries LLC
• Bonset America Corporation
• Edwards Label Inc.
• Polysack Flexible Packaging Ltd.
• Westrock Company
• Sonoco Products Company
• Albea Group
• Pactiv LLC
• Takween Advanced Industries Company
• Al Jabri Plastic Factory
• Avery Dennison Corporation
• Comexi Group Industries S.L.U.
• Constantia Flexibles Group GmbH
• Coveris Holdings S.A.
• Dow Inc.
• Inland Label & Marketing Services LLC
• Innovia Films
• IPL Plastics Inc.
• Label Impressions Inc.
• Labelcraft Products Ltd.
• Mondi Group
• Resource Label Group LLC
• UPM Raflatac
• WS Packaging Group Inc.
What Is The Most Dominant Region In The Stretch Sleeve & Shrink Sleeve Labels Market?
Asia-Pacific was the largest region in the stretch and shrink sleeve label market in 2024. The regions covered in the stretch sleeve & shrink sleeve labels market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
