[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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Shrink and Stretch Sleeve Label Market: Strategic Insights
Market Size Value in US$ 9,949.25 million in 2022 Market Size Value by US$ 16,359.61 million by 2030 Growth rate CAGR of 6.4% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Shrink and Stretch Sleeve Label Market: Strategic Insights
| Market Size Value in | US$ 9,949.25 million in 2022 |
| Market Size Value by | US$ 16,359.61 million by 2030 |
| Growth rate | CAGR of 6.4% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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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 Report Scope
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.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Material, Product Type, Printing Technology, and End-Use Industry
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
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, including polyvinyl chloride, polyethylene terephthalate, or other plastic films.
In 2020, the European Commission adopted the Circular Economy Action Plan (CEAP) as a part of the European Green Deal, aiming at sustainable growth and a transition toward a circular economy to decrease dependency on natural resources. The objectives of CEAP include manufacturing sustainable products and focusing on circularity in the packaging sector. The commission aimed to increase the utilization of recycled plastics in packaging solutions. CEAP included actions and legislative proposals on waste, of which legislative proposals involved landfill, reuse, and recycling targets to be achieved by 2030 and 2035.
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. Shrink and stretch sleeve labels play a crucial role in the food & beverages industry, serving both functional and marketing purposes. The 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.
The major players operating in the Western Europe shrink and stretch sleeve label market are 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, and Maca Srl.
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.
1. Introduction
1.1 Scope of the Study
1.2 Market Definition, Assumptions and Limitations
1.3 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness Analysis
3. Research Methodology
4. Shrink and Stretch Sleeve Label Market Landscape
4.1 Overview
4.2 Porter’s Five Forces Analysis
4.3 Ecosystem Analysis
4.3.1 List of Vendors in the Value Chain
5. Shrink and Stretch Sleeve Label Market - Key Market Dynamics
5.1 Key Market Drivers
5.2 Key Market Restraints
5.3 Key Market Opportunities
5.4 Future Trends
5.5 Impact Analysis of Drivers and Restraints
6. Shrink and Stretch Sleeve Label Market - Global Market Analysis
6.1 Shrink and Stretch Sleeve Label - Global Market Overview
6.2 Shrink and Stretch Sleeve Label - Global Market and Forecast to 2030
7. Shrink and Stretch Sleeve Label Market – Volume (Sq. Meter), Revenue Analysis (USD Million) – By Material, 2020-2030
7.1 Overview
7.2 Polyvinyl Chloride
7.3 Polystyrene
7.4 Poly-Ethylene Terephthalate
7.5 Polyethylene
7.6 Others
8. Shrink and Stretch Sleeve Label Market – Revenue Analysis (USD Million) – By Product Type, 2020-2030
8.1 Overview
8.2 Shrink Sleeves
8.3 Stretch Sleeves
9. Shrink and Stretch Sleeve Label Market – Revenue Analysis (USD Million) – By Printing Technology, 2020-2030
9.1 Overview
9.2 Flexographic
9.3 Digital Printing
9.4 Rotogravure Printing
10. Shrink and Stretch Sleeve Label Market – Revenue Analysis (USD Million) – By End-Use Industry, 2020-2030
10.1 Overview
10.2 Food and Beverages
10.3 Pharmaceuticals
10.4 Chemicals
10.5 Consumer Goods
10.6 Personal Care and Cosmetics
10.7 Others
11. Shrink and Stretch Sleeve Label Market - Volume (Sq. Meter), Revenue Analysis (USD Million), 2020-2030 – Geographical Analysis
11.1 North America
11.1.1 North America Shrink and Stretch Sleeve Label Market Overview
11.1.2 North America Shrink and Stretch Sleeve Label Market Revenue and Forecasts to 2030
11.1.3 North America Shrink and Stretch Sleeve Label Market Volume, Revenue and Forecasts and Analysis - By Material
11.1.4 North America Shrink and Stretch Sleeve Label Market Revenue and Forecasts and Analysis - By Product Type
11.1.5 North America Shrink and Stretch Sleeve Label Market Revenue and Forecasts and Analysis - By Printing Technology
11.1.6 North America Shrink and Stretch Sleeve Label Market Revenue and Forecasts and Analysis - By End-Use Industry
11.1.7 North America Shrink and Stretch Sleeve Label Market Revenue and Forecasts and Analysis - By Countries
11.1.7.1 United States Shrink and Stretch Sleeve Label Market
11.1.7.1.1 United States Shrink and Stretch Sleeve Label Market, by Material
11.1.7.1.2 United States Shrink and Stretch Sleeve Label Market, by Product Type
11.1.7.1.3 United States Shrink and Stretch Sleeve Label Market, by Printing Technology
11.1.7.1.4 United States Shrink and Stretch Sleeve Label Market, by End-Use Industry
11.1.7.2 Canada Shrink and Stretch Sleeve Label Market
11.1.7.2.1 Canada Shrink and Stretch Sleeve Label Market, by Material
11.1.7.2.2 Canada Shrink and Stretch Sleeve Label Market, by Product Type
11.1.7.2.3 Canada Shrink and Stretch Sleeve Label Market, by Printing Technology
11.1.7.2.4 Canada Shrink and Stretch Sleeve Label Market, by End-Use Industry
11.1.7.3 Mexico Shrink and Stretch Sleeve Label Market
11.1.7.3.1 Mexico Shrink and Stretch Sleeve Label Market, by Material
11.1.7.3.2 Mexico Shrink and Stretch Sleeve Label Market, by Product Type
11.1.7.3.3 Mexico Shrink and Stretch Sleeve Label Market, by Printing Technology
11.1.7.3.4 Mexico Shrink and Stretch Sleeve Label Market, by End-Use Industry
Note - Similar analysis would be provided for below mentioned regions/countries
11.2 Europe
11.2.1 Germany
11.2.2 France
11.2.3 Italy
11.2.4 United Kingdom
11.2.5 Russia
11.2.6 Rest of Europe
11.3 Asia-Pacific
11.3.1 Australia
11.3.2 China
11.3.3 India
11.3.4 Japan
11.3.5 South Korea
11.3.6 Rest of Asia-Pacific
11.4 Middle East and Africa
11.4.1 South Africa
11.4.2 Saudi Arabia
11.4.3 U.A.E
11.4.4 Rest of Middle East and Africa
11.5 South and Central America
11.5.1 Brazil
11.5.2 Argentina
11.5.3 Rest of South and Central America
12. Pre and Post Covid-19 Impact
13. Industry Landscape
13.1 Mergers and Acquisitions
13.2 Agreements, Collaborations, Joint Ventures
13.3 New Product Launches
13.4 Expansions and Other Strategic Developments
14. Competitive Landscape
14.1 Heat Map Analysis by Key Players
14.2 Company Positioning and Concentration
15. Shrink and Stretch Sleeve Label Market - Key Company Profiles
15.1 CCL Industries
15.1.1 Key Facts
15.1.2 Business Description
15.1.3 Products and Services
15.1.4 Financial Overview
15.1.5 SWOT Analysis
15.1.6 Key Developments
Note - Similar information would be provided for below list of companies
15.2 Coveris
15.3 Berry Global Inc.
15.4 Amcor plc
15.5 Huhtamaki
15.6 Fuji Seal International, Inc.
15.7 Klöckner Pentaplast
15.8 STRATUS
15.9 Oerlemans Packaging
15.10 MACA S.r.l.
16. Appendix
16.1 Glossary
16.2 About The Insight Partners
16.3 Market Intelligence Cloud
The List of Companies - Shrink and Stretch Sleeve Label Market
- 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
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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