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Global Stretch Sleeve & Shrink Sleeve Labels Market 2024 - Sharing Industry Share, Identifying Growth Opportunities, Spotlighting Leading Companies, and Offering an Outlook Till 2033
Global Stretch Sleeve & Shrink Sleeve Labels Market
The Business Research Company offers in-depth market insights through Stretch Sleeve & Shrink Sleeve Labels Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The stretch sleeve & shrink sleeve labels market size has grown strongly in recent years. It will grow from $14.59 billion in 2023 to $15.63 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to brand differentiation, product visibility, regulatory compliance and labeling requirements, consumer convenience, sustainability initiatives.
The stretch sleeve & shrink sleeve labels market size is expected to see strong growth in the next few years. It will grow to $19.88 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to increaseing adoption in beverage industry, rise in e-commerce packaging, focus on recyclability, emergence of smart packaging, globalization and standardization. Major trends in the forecast period include increaseing demand for sustainable packaging, advanced printing technologies, e-commerce packaging solutions, smart packaging integration, regulatory compliance and labeling standards.
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Market Segmentation:
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
Major Driver - Rising Demand In Food And Beverage Industry Propels Growth Of Stretch Sleeve And Shrink Sleeve Label Markets
The increasing demand in the food and beverage industry is expected to boost the growth of the stretch sleeve and shrink sleeve label markets going forward. The food and beverage industry refers to all businesses that handle the processing, packaging, and distribution of uncooked food. Stretch sleeve labels and shrink sleeve labels are frequently utilized in the food and beverage industries for packaging and branding, these labels are composed of a flexible material that can be stretched or shrunk to fit tightly around a container, providing 360-degree visibility. For instance, in 2021, according to the Food & Drink Federation, a UK-based organization that represents and advises UK food and drink manufacturers, Scotland registered 1,185 companies that manufacture food and beverages. Further, exports of food and beverages rose by 12% in 2021 to $7.9 billion (£5.9 billion). Additionally, in the same year, food and beverage turnover accounted for $12.5 billion (£10.4 billion), which is 30% of total Scottish manufacturing. Therefore, the increasing demand in the food and beverage industry is driving the growth of the stretch sleeve and shrink sleeve label markets.
Competitive Landscape:
Major companies operating in the stretch sleeve & shrink sleeve labels market report are 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, Bemis Company, Silgan Holdings Inc., Sonoco Products Company, Albea Group, Pactiv LLC, Takween Advanced Industries Company, SABIC Corporate, Al Jabri Plastic Factory, Schoeller Allibert, Ardagh Group SA, Avery Dennison Corporation, Ball Corporation, Cenveo Corporation, Comexi Group Industries S.L.U., Constantia Flexibles Group GmbH, Coveris Holdings S.A., Dow Inc., Eastman Chemical Company, ExxonMobil Chemical Company, Grief Inc., Inland Label & Marketing Services LLC, Innovia Films, IPL Plastics Inc., Label Impressions Inc., Labelcraft Products Ltd., Mondi Group, Resource Label Group LLC, Sealed Air Corporation, UPM Raflatac, Vetropack Holding, WS Packaging Group Inc.
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Top Trend - Companies Unveil Innovative Ultra-Thin Stretch Sleeve For Enhanced Durability And Sustainability
Product innovations are a key trend gaining popularity in the stretch sleeve and shrink sleeve label market. Companies operating in the stretch sleeve and shrink sleeve label market are adopting innovative solutions to sustain their position in the market. For instance, in January 2023, CCL Industries Inc., a Canada-based company that manufactures the largest label, launched a stretch sleeve with a 30-micron thickness. This ultra-thin stretch sleeve was designed to provide ultra durability and is much thinner at 30 microns than the 'standard' 45-micron sleeves. This uses less raw material which helps lower the product's carbon footprint.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Stretch Sleeve & Shrink Sleeve Labels Market Characteristics
3. Stretch Sleeve & Shrink Sleeve Labels Market Trends And Strategies
4. Stretch Sleeve & Shrink Sleeve Labels Market - Macro Economic Scenario
5. Stretch Sleeve & Shrink Sleeve Labels Market Size And Growth
…..
27. Stretch Sleeve & Shrink Sleeve Labels Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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