PUBLISHER: The Business Research Company | PRODUCT CODE: 1414615
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414615
“Stretch Sleeve & Shrink Sleeve Labels Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on stretch sleeve & shrink sleeve labels market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for stretch sleeve & shrink sleeve labels? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The stretch sleeve & shrink sleeve labels market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Stretch and shrink sleeve labels are plastic or polyester labels designed to wrap around the entire perimeter of a product, conforming to the unique shape of the packaging. These flexible labeling solutions serve multiple purposes, including enhancing brand image, providing product details, and offering protection in diverse sectors.
The primary types of stretch sleeve and shrink sleeve labels include shrink sleeves and stretch sleeves. Stretch sleeves are crafted from a recyclable material, specifically polyethylene, making them an ideal choice for businesses prioritizing sustainability. These labels utilize various polymer films, including PVC, PETG, OPS, PE, and other polymer films. They feature different embellishing types such as hot foil, cold foil, and other embellishing methods, and leverage various printing techniques such as rotogravure, flexography, digital printing, and other printing technologies. These labels find applications across a spectrum of industries, including food, soft drinks, alcoholic beverages, cosmetics and household products, pharmaceuticals, and other sectors.
The stretch sleeve & shrink sleeve labels market research report is one of a series of new reports from The Business Research Company that provides stretch sleeve & shrink sleeve labels market statistics, including stretch sleeve & shrink sleeve labels industry global market size, regional shares, competitors with a stretch sleeve & shrink sleeve labels market share, detailed stretch sleeve & shrink sleeve labels market segments, market trends and opportunities, and any further data you may need to thrive in the stretch sleeve & shrink sleeve labels industry. This stretch sleeve & shrink sleeve labels market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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 expansion observed in the historical period can be attributed to factors such as brand differentiation, enhanced product visibility, compliance with regulatory and labeling requirements, increased consumer convenience, and initiatives promoting sustainability.
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 anticipated growth in the forecast period is driven by factors such as the growing adoption in the beverage industry, the rise in e-commerce packaging, a heightened focus on recyclability, the emergence of smart packaging, and trends toward globalization and standardization. Key trends expected in the forecast period include an increasing demand for sustainable packaging, advancements in printing technologies, solutions for e-commerce packaging, integration of smart packaging, and a continued emphasis on regulatory compliance and labeling standards.
The anticipated growth in the stretch sleeve and shrink sleeve label markets is expected to be propelled by the increasing demand in the food and beverage industry. The term "food and beverage industry" encompasses all businesses involved in the processing, packaging, and distribution of raw food. Stretch sleeve labels and shrink sleeve labels are commonly employed in the food and beverage sectors for packaging and branding. These labels, made of flexible material that can be stretched or shrunk to snugly fit around a container, offer 360-degree visibility. For example, in 2021, the Food & Drink Federation reported that Scotland had 1,185 companies engaged in the production of food and beverages, with exports rising by 12% to $7.9 billion (£5.9 billion). Additionally, the turnover from food and beverages accounted for $12.5 billion (£10.4 billion), representing 30% of total Scottish manufacturing. Thus, the increasing demand in the food and beverage industry is a driving force behind the growth of the stretch sleeve and shrink sleeve label markets.
The burgeoning growth of e-commerce is expected to further propel the stretch and shrink sleeve labels market. E-commerce involves the online buying and selling of goods and services across various transaction types. Stretch sleeve and shrink sleeve labels play a crucial role in e-commerce packaging by safeguarding products during shipping and handling. These labels are well-suited for e-commerce packaging due to their ability to provide a seamless finish, high-quality printing with graphics and text, and excellent tamper-evident and moisture resistance properties. For instance, as of September 2022, consumer eCommerce constituted 30% of the UK's total retail sector, with an annual e-commerce revenue exceeding $120 billion. In 2021, 82% of people in the UK had made at least one online purchase. Thus, the increasing growth of e-commerce is a driving factor in the expansion of the stretch and shrink sleeve labels market.
The stretch sleeve and shrink sleeve label market are witnessing a notable trend of product innovations. Companies within this market are embracing inventive solutions to maintain their competitive positions. For instance, in January 2023, CCL Industries Inc., a Canadian company renowned for manufacturing extensive labels, unveiled a stretch sleeve with a thickness of 30 microns. This ultra-thin stretch sleeve was designed for exceptional durability, standing out with its 30-micron thickness compared to the 'standard' 45-micron sleeves. The reduced use of raw materials contributes to a lower carbon footprint for the product.
Major players in the sleeve and shrink sleeve label markets are actively introducing sustainable solutions, aiming to transition the manufacturing process into a completely closed production loop for a competitive advantage. The shift toward a closed production loop involves recycling post-consumer stretch sleeves to create new sleeve material, ensuring a continuous use of products and materials. For example, in February 2021, CCL Label, a Canadian label manufacturing company, introduced EcoStretch, a sustainable stretch-sleeve option. This environmentally conscious solution is recycled at the company's Austrian factory after use, forming a fully closed production cycle. The recycling facility is located at the CCL factory in Voelkermarkt, Austria, a hub for the production of stretch and shrink sleeves predominantly used in home care, dairy, and beverage industries. The thin material of stretch sleeves allows application without the need for heat or adhesives, contributing to a reduced carbon footprint.
In March 2021, Fort Dearborn, a US-based packaging solutions provider, acquired Hammer Packaging Corporation for an undisclosed amount. This strategic acquisition expanded and diversified Fort's portfolio, encompassing cut and stack, in-mold, pressure-sensitive, roll-fed, shrink and stretch sleeve labels, as well as flexible packaging. Hammer Packaging Corporation, operating in the stretch sleeve and shrink sleeve label markets, contributed to the enrichment of Fort's capabilities and product offerings.
Major companies operating in the stretch sleeve & shrink sleeve labels market report are Berry Global Inc., CCL Industries Inc., Huhtamaki Oyj, Klockner 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.
Asia-Pacific was the largest region in the stretch and shrink sleeve label market in 2023. 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
The countries covered in the stretch sleeve & shrink sleeve labels market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The stretch and shrink sleeve label market consists of sales clear sleeves, printed sleeves, tamper-evident sleeves, perforated sleeves, and dual-layer sleeves. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.