The global stretch sleeve & shrink sleeve labels market is projected to reach USD 23.51 billion by 2029 from USD 13.96 billion in 2020, at a CAGR of 6.41 % from 2022 to 2029.
Shrink sleeves can be a desirable decorative label option because they have 360⁰ coverage and can reach from the top to the bottom of containers, allowing for the best use of available product real estate. Shrink sleeves, for example, used on plastic bottles containing sports drinks, can cover the neck and shoulder as well as the entire perimeter of the bottle's base. Shrink sleeve labels increase shelf appeal by displaying a variety of colours and graphics, designs, and finishes ranging from matte to gloss.
Heat is not required as part of the overall application process for stretch sleeves. Rather, each sleeve is expanded and then slipped over the top of the product before being released in one smooth motion at the desired height placement. As a result, the material used must have some elasticity in order to expand and contract along the contours of the container. The most common material used is monolayer polyethylene (LDPE).
| ATTRIBUTE | DETAILS |
| Study period | 2020-2029 |
| Base year | 2021 |
| Estimated year | 2022 |
| Forecasted year | 2022-2029 |
| Historical period | 2018-2020 |
| Unit | Value (USD Billion) |
| Segmentation | By Polymer Film, By Printing Technology, By Embellishing Type, By Application, By Region. |
| By Polymer Film |
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| By Printing Technology |
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| By Embellishing Type |
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| By Application |
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| By Region |
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The fast-growing FMCG industry is also a key consumer of such stretch & shrink sleeve labels since it can transform beverage packing and labelling, thus amplifying the market growth outlook of stretch & shrink labels. Furthermore, the rise in beverage and packaged food consumption has fueled the market growth of these labels.
The growing use of environmentally favorable packaging options is another important factor. It can be made from eco-friendly materials and are simple to recycle, which is encouraging their adoption as consumers become more aware of the environmental effect of packaging materials. Several key drivers are expected to drive significant growth in the stretch sleeve and shrink sleeve labels market in the coming years. Growing demand for packaged food and beverages is one of the major drivers. Consumers are turning to packaged food and beverages as convenience foods become more popular, and stretch sleeve and shrink sleeve labels provide a 360-degree branding and messaging platform that can help products stand out on store shelves.
Advancements in printing and labeling technology also present new opportunities for the stretch sleeve and shrink sleeve labels market. As printing technology continues to improve, it will be possible to print high-quality images and designs on these labels, which can help brands stand out in the market. Additionally, new labeling technologies, such as digital printing, can help improve the efficiency and accuracy of label production, creating new opportunities for the market.
The COVID-19 pandemic has had a significant effect on industry globally, and it is difficult to assess the extent and severity of the impact over time. The COVID-19 pandemic has disrupted the packing and labelling sector's supply chain, which has had an impact on the product's demand and supply. Governments around the world have deemed the food-related industries essential; as a result, the increase in demand for shrink and stretch sleeve labels is expected to hold steady over the forecast period.
The global stretch sleeve & shrink sleeve labels market is projected to reach USD 23.51 billion by 2029 from USD 13.96 billion in 2020, at a CAGR of 6.41 % from 2022 to 2029.
The increasing demand for polymer films, the availability of additional printing space, anti-counterfeiting capabilities, and 360-degree display are the key growth drivers for the global market.
The global stretch sleeve & shrink sleeve labels market registered a CAGR of 6.41 % from 2022 to 2029.
Key players profiled in the report include Amcor, Bemis Company, Berry Global Inc., D&L Packaging, Edwards Label Inc., Fuji Seal International, Huhtamaki Oyj, Klockner Pentaplast, Macfarlane Group Plc, Polysack Flexible Packaging Ltd., The Dow Chemical Company, Westrock Company, Avery Dennison Corporation, Clondalkin Group Holdings B.V., Bonset America Corporation, Hammer Packaging.
Asia-Pacific dominated the market while growing applications in the stretch sleeve & shrink sleeve labels market
The global stretch sleeve & shrink sleeve labels market is segmented by polymer film, printing technology, embellishing type, application and region.
Based on polymer film, the Stretch Sleeve & Shrink Sleeve Labels market is segmented into Polyethylene Terephthalate Glycol (Pet-G), Oriented Polystyrene (Ops), Polyethylene (PE), Polylactic Acid (PLA), Polyvinyl Chloride (PVC). The PVC polymer film category held the largest portion of the market. The most cost-effective films are made of PVC polymers, which can compress by 55% to 60%.
Based on printing technology, the stretch sleeve & shrink sleeve labels market is segmented into gravure, flexography, digital printing. Gravure is the most widely used technology for printing stretch and shrink sleeve labels worldwide. The image is etched with ink on the surface of a metal plate in gravure, creating a recess for the image to be printed. The recesses are then inked, while the non-printing area of the plate is scraped clean. The image is transferred when the substrate is pressed against the inked plate.
Based on embellishing type, the stretch sleeve & shrink sleeve labels market is segmented into hot foil, cold foil, others. The stretch sleeve & shrink sleeve labels market has a big hot foil embellishment segment. Labels can have a metallic foil finish by using the hot foil printing technique. A metal die fashioned after the design of the artwork to be foiled presses the foil against the material under strong pressure and high heat in a hot stamping machine.
Based on application, the stretch sleeve & shrink sleeve labels market is segmented into food, wine & spirit, other beverages, beauty & personal care, healthcare, and others. The other beverages segment dominates the market. Water bottles, soft drinks, pallets, abrasives, cast steel, empty bottle packing, and boxes with sharp corners all use stretch and shrink sleeve labels as a marketing tool. One of the most common applications for stretch and shrink sleeve labels is in the beverage industry.
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The global stretch sleeve & shrink sleeve labels market key players include Amcor, Bemis Company, Berry Global Inc., D&L Packaging, Edwards Label Inc., Fuji Seal International, Huhtamaki Oyj, Klockner Pentaplast, Macfarlane Group Plc, Polysack Flexible Packaging Ltd., The Dow Chemical Company, Westrock Company, Avery Dennison Corporation, Clondalkin Group Holdings B.V., Bonset America Corporation, Hammer Packaging.
Recent News Sept. 23, 2022 – The DairySealTM line of packaging from Amcor Rigid Packaging (ARP) includes ClearCorTM, a cutting-edge polyethylene terephthalate (PET) barrier. With the launch of DairySeal, the rapidly growing ready-to-drink (RTD), nutritional, and dairy alternative markets will now have access to a more environmentally friendly packaging choice that can be used in all retail outlets. 23 September 2021: Elif Holding A.a provides sustainable, flexible packaging to global FMCG brand owners, and Huhtamaki Oyj completed the acquisition. This acquisition aided Huhtamaki's position as a leading flexible packaging company in emerging markets, as well as its existing flexible packaging business catering to appealing consumer product categories.The stretch sleeve & shrink sleeve labels market by region includes North America, Asia-Pacific (APAC), Europe, South America, and Middle East & Africa (MEA).
The APAC region is expected to be the largest market and the one with the highest CAGR during the forecast period. China, India, and Japan are major contributors to the stretch sleeve & shrink sleeve labels market. The region's use of stretch and shrink sleeve labels has increased due to cost-effectiveness, easy availability of raw materials, and product labelling demand from densely populated countries such as India and China. The region's market is expected to be driven by the increasing scope of applications of stretch & shrink sleeve labels in the food & beverage, healthcare, and beauty & personal care industries.
The market expansion in North America is anticipated to be supported by the region's expanding pharmaceutical application for drug trademark protection. Due to an increase in demand from the food packaging sectors, the stretch and shrink sleeve market in Europe is anticipated to expand. The demand for stretch and shrink sleeves is also rising in South America, the Middle East, and Africa as a result of growing urbanization and rising disposable income, which in turn are fueling rising demand for food and beverages as well as high demand for personal care, which is anticipated to propel market growth.
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