Shrink and Stretch Sleeve Label Market Key Players and Opportunities by 2030

[Research Report] The shrink and stretch sleeve label market size was valued at US$ 9,949.25 million in 2022 and is expected to reach US$ 16,359.61 million by 2030; it is estimated to register a CAGR of 6.4% from 2022 to 2030.

MARKET ANALYSIS

The stretch and shrink sleeve label market reflects a dynamic landscape driven by evolving consumer preferences, technological advancements, and a focus on sustainable packaging solutions. As the packaging industry continues to grow, the demand for visually appealing and informative labels has led to the increasing adoption of stretch and shrink-sleeve labels. These labels offer a versatile solution for product differentiation with vibrant graphics and 360-degree branding. Regulatory compliance and the emphasis on eco-friendly packaging contribute to the attractiveness of sleeve labels as manufacturers seek sustainable alternatives. The market benefits from innovations in printing technologies, allowing for intricate designs and the incorporation of smart packaging features.

Technological advancements play a crucial role in shaping the landscape, with continuous innovations in printing technologies enabling intricate designs and the integration of smart packaging features. Collaboration within the industry, involving packaging companies, label manufacturers, and end-users, fosters an environment of innovation and efficiency. The versatility of stretch and shrink sleeve labels finds applications across diverse sectors, including food and beverage, pharmaceuticals, and personal care, contributing to the market's sustained growth.

GROWTH DRIVERS AND CHALLENGES

Shrink and stretch sleeve labels provide 360-degree coverage for vibrant and visually appealing graphics. The labels allow brands to differentiate their products through creative packaging designs and label shapes. These labels are tamper-evident and ensure the integrity of packaged products. The food & beverage industry is highly competitive, and shelf appeal plays a significant role in food and beverage demand. Portable and single-serve packaging are gaining popularity in the industry. Further, shrink sleeves are designed to conform tightly to the contours of product containers when exposed to heat during the application. The conforming properties allow the labels to adapt to various shapes and sizes of bottles, jars, containers, and other items. The snug fit creates an attractive and seamless appearance on the packaging. Shrink sleeves also serve as effective tamper-evident seals, providing an additional layer of security for packaged products. However, stretch and shrink sleeve labels are made from plastics such as polyvinyl chloride, polyethylene, and polyethylene terephthalate. The materials pose challenges in terms of recyclability, and their presence in the waste stream can contribute to environmental concerns. The widespread use of stretch and shrink sleeve labels generates plastic waste, posing environmental risks.

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REPORT SEGMENTATION AND SCOPE

The "Global Shrink and Stretch Sleeve Label Market Analysis and Forecast to 2030" is a specialized and in-depth study focusing significantly on global market trends and growth opportunities. The report aims to provide an overview of the global market with detailed market segmentation on the basis of material, product type, printing technology, end-use industry, and geography. It provides key statistics on the use of shrink and stretch sleeve labels across the world, along with their demand in major regions and countries. In addition, the report provides a qualitative assessment of various factors affecting the shrink and stretch sleeve label market performance in major regions and countries. It also includes a comprehensive analysis of the leading players in the shrink and stretch sleeve label market and their key strategic developments. Analysis of the market dynamics is also included to help identify the key driving factors, market trends, and lucrative opportunities that would, in turn, aid in identifying the major revenue pockets.

The ecosystem analysis and Porter’s five forces analysis provide a 360-degree view of the global shrink and stretch sleeve label market, which helps understand the entire supply chain and various factors influencing the market growth.

SEGMENTAL ANALYSIS

The global shrink and stretch sleeve label market is segmented on the basis of material, product type, printing technology, and end-use industry. Based on material, the market is segmented into polyvinyl chloride, polystyrene, polyethylene terephthalate, polyethylene, and others. Polyvinyl chloride is a versatile thermoplastic polymer known for its clarity, flexibility, and cost-effectiveness. It is often preferred for its ability to efficiently conform to the shape of packaging when heat is applied during the shrinking process. It offers a substantial shrink ratio. In the case of stretch sleeve labels, polyvinyl chloride is employed for its flexibility and durability. Based on product type, the market is bifurcated into shrink sleeves and stretch sleeves. Shrink sleeves are made from flexible plastic material that shrinks tightly to the contours of the packaging when exposed to heat. Shrink sleeves are made from materials such as polyvinyl chloride, polyethylene terephthalate, or other plastic films. Based on printing technology, the market is segmented into flexographic, digital printing, rotogravure printing, and others. Flexographic printing technology is known for its high-quality printing and cost-effectiveness. Therefore, the technology is a preferred choice for shrink and stretch sleeve label manufacturing. It is a repeatable process suitable for high-volume label production and adapts to various film types and thicknesses commonly used in sleeve production. Based on the end-use industry, the market is segmented into food and beverages, pharmaceuticals, chemicals, consumer goods, personal care and cosmetics, automotive and transportation, and others. Stretch and shrink-sleeve labels play a crucial role in the food & beverages industry, serving both functional and marketing purposes. Stretch and shrink-sleeve labels are widely used in food and beverage products such as juices, energy drinks, and alcoholic beverages. The protective seal of these labels prevents food and beverage products from being opened intentionally or unintentionally.

REGIONAL ANALYSIS

The report provides a detailed overview of the global shrink and stretch sleeve label market with respect to five major regions—North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South & Central America (SAM). Asia Pacific accounted for the largest share of the global shrink and stretch sleeve label market and was valued at over US$ 4000 million in 2022. Asia Pacific marks the presence of food & beverage manufacturers and is a hub for mid-sized businesses operating in the region. Europe is expected to reach over US$ 4500 million by 2030. North America is expected to record a CAGR of ~5% from 2022 to 2030. The convenience-driven lifestyle of customers plays a pivotal role in the growth of the stretch and shrink sleeve label market. As people lead increasingly busy lives, the need for packaged food products has upsurged.

INDUSTRY DEVELOPMENTS AND FUTURE OPPORTUNITIES

Various initiatives taken by the key players operating in the shrink and stretch sleeve label market are listed below:

In April 2023, Berry announced the expansion of its leading film manufacturing facility in Lewisburg, Tennessee.

Shrink and Stretch Sleeve Label Market Regional Insights

The regional trends and factors influencing the Shrink and Stretch Sleeve Label Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Shrink and Stretch Sleeve Label Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Shrink and Stretch Sleeve Label Market Report Scope

Shrink and Stretch Sleeve Label Market Players Density: Understanding Its Impact on Business Dynamics

The Shrink and Stretch Sleeve Label Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Shrink and Stretch Sleeve Label Market are:

1. CCL Industries Inc
2. Huhtamaki Oyj
3. Berry Global Group Inc
4. Amcor Plc
5. Coveris Management GmbH

Disclaimer: The companies listed above are not ranked in any particular order.

IMPACT OF COVID-19 PANDEMIC/IMPACT OF GEOPOLITICAL SCENARIO/IMPACT OF RECESSION

Before the COVID-19 pandemic, many countries across the world reported economic growth. Key manufacturers invested in the research and development of shrink and stretch sleeve labels. They also focused on expanding geographic reach through mergers and acquisitions to cater to a broad customer base. Before the pandemic, the shrink and stretch sleeve label market reported steady growth due to increasing demand from the chemicals & materials industry. During the pandemic, supply chain disruptions, raw material and labor shortages, and operational difficulties created a demand and supply gap, adversely affecting the growth of the chemicals & materials industry. Manufacturers reported challenges in sourcing raw materials and ingredients from suppliers, impacting the production rate of shrink and stretch sleeve labels.

Several regions reported the demand and supply gap due to fluctuating demand from the chemical & materials industry. In 2021, rising vaccination rates contributed to improvements in the overall conditions in different countries, which led to conducive environments for the chemicals & materials industry. The sales of shrink and stretch sleeve labels increased with the resumption of production and sales operations of companies operating in the chemical & materials industry. Increasing demand for high-quality shrink and stretch sleeve label solutions in these industries has propelled the growth of the shrink and stretch sleeve label market.

COMPETITIVE LANDSCAPE AND KEY COMPANIES

CCL Industries Inc., Huhtamaki Oyj, Berry Global Group Inc., Amcor Plc, Coveris Management GmbH, Stratus Packaging SAS, KP Holding GmbH & Co KG, Fuji Seal International Inc, Oerlemans Plastics BV, Maca Srl are among the key players operating in the shrink and stretch sleeve label market.