Advantages of Shrink Sleeve Labels Drive Global Shrink and Stretch Sleeve Label Market Growth
According to the latest market study on “Shrink and Stretch Sleeve Label Market Forecast to 2030 – COVID-19 Impact and Global Analysis – by Material, Product Type, Printing Technology, and End-Use Industry," 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. The report highlights key factors driving the market growth and prominent players along with their developments in the market.
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.
Global Shrink and Stretch Sleeve Label Market Breakdown – by Region
Shrink and Stretch Sleeve Label Market Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Material (Polyvinyl Chloride, Polystyrene, Polyethylene Terephthalate, Polyethylene, and Others), Product Type (Shrink Sleeves and Stretch Sleeves), Printing Technology (Flexographic, Digital Printing, Rotogravure Printing, and Others), and End-Use Industry (Food & Beverages, Pharmaceuticals, Chemicals, Consumer Goods, Personal Care & Cosmetics, Automotive & Transportation, and Others)
Shrink and Stretch Sleeve Label Market Forecast & Size by 2030
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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.
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 in the global shrink and stretch sleeve label market.
Impact of COVID-19 Pandemic on Global Shrink and Stretch Sleeve Label Market Growth
During the COVID-19 pandemic, disruptions in chemical and materials manufacturing operations significantly impacted global supply chains and hindered product manufacturing activities, delivery schedules, and sales. Various chemicals and materials companies reported product delivery delays and sales slump in 2020. Moreover, restrictions on international travel imposed by governments of various countries compelled manufacturers and suppliers to temporarily discontinue their business strategies, such as partnerships. All these factors hampered many sectors during the pandemic and restrained the growth of the chemicals & materials industry. During the pandemic, supply chain disruptions, raw material and labor shortages, and operational difficulties created demand and supply gaps, adversely affecting the growth of the shrink and stretch sleeve label market.
In 2020, supply chain shortages, increased labor costs, and high demand for raw materials resulted in price inflation of materials required in the chemicals & materials industry across various regions. In 2021, rising vaccination rates contributed to improvements in the overall conditions in different countries, which led to a conducive environment for automobile producers, construction, furniture, and aerospace industries. The developments in the shrink and stretch sleeve label market were witnessed with the resumption of production and sales operations of companies operating in the industry by the end of 2021.
The "Global Shrink and Stretch Sleeve Label Market Analysis to 2030" is a specialized and in-depth study of the chemicals & materials industry, focusing on the global shrink and stretch sleeve label market trend analysis. The report aims to provide an overview of the market with detailed market segmentation. 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 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 typically 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 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.
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