Shrink Sleeve and Stretch Sleeve Labels Market size to increase by USD 4.1 billion during 2022-2027, Growing demand from the organized retail sector to drive growth, Technavio

NEW YORK, March 19, 2024 /PRNewswire/ -- The shrink sleeve and stretch sleeve labels market size is expected to grow by USD 4.1 billion between 2022 and 2027. However, the growth momentum of the market will progress at a CAGR of 5.1% during the forecast period. The surge in demand for shrink-sleeve and stretch-sleeve labels is significantly propelled by the rise of hypermarkets and supermarkets. Notably, China experienced a 17% retail sales growth in April 2021 compared to April 2020, with further escalation anticipated. Key drivers include government initiatives like duty-free shopping zones, dismantling provincial trade barriers, reduced import duties on consumer goods, and burgeoning support for cross-border e-commerce. This trend is mirrored in emerging economies like India and China. As competition intensifies, manufacturers prioritize shelf visibility, making shrink-sleeve and stretch-sleeve labels increasingly popular for their ability to enhance product appeal and draw in customers, thus catalyzing market expansion.

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Key Highlights:

• The report recognizes the following as some of the key players in the shrink sleeve and stretch sleeve labels market: adapa Holding GesmbH, Al Ghurair First LLC, Amcor Plc, Atlantic Corp., Berry Global Inc., CCL Industries Inc., Clondalkin Group Holdings BV, D and L Packaging, Dow Chemical Co., Edwards Label Inc., Fuji Seal International Inc., Huhtamaki Oyj, Kris Flexipacks Pvt. Ltd., Multi Color Corp., Orianaa Decorpack Pvt. Ltd., Polysack Flexible Packaging Ltd., Taurus Packaging, Tilak Polypack Pvt. Ltd., WestRock Co., and KP Holding GmbH and Co. KG
• Shrink Sleeve and Stretch Sleeve Labels Market is fragmented in nature.
• Market to observe 4.62% YOY growth in 2023.

The emergence of sustainable shrink-sleeve and stretch-sleeve labels is an emerging market trend. The presence of substitutes challenges market growth.

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The market is segmented by Application (Food and beverage, Healthcare, Beauty and personnel care, and Others), Product Type (Stretch sleeves label and Shrink sleeves label), Material (PVC, PETG, OPS, PE, and Others), and Geography (APAC, North America, Europe, South America, and Middle East and Africa).

• The food and beverage segment is significant during the forecast period. Effective labeling, which offers information on the food product and related health risks is mandatory for this segment. The Food and Drug Administration (FDA) and the Food Safety and Standards Authority of India (FSSAI) are the major governing bodies that mandate labeling in the food industry. 

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Analyst Review

The global market for shrink sleeve and stretch sleeve labels is witnessing robust growth, driven by a multitude of factors spanning various segments and geographies. Polymer films serve as the backbone for these labels, offering flexibility and durability, making them ideal for application on a wide range of packaging surfaces. These labels play a pivotal role in enhancing brand security and protecting against counterfeiting threats, utilizing anti-counterfeiting features such as tamper-proof quality and advanced printing technologies.

In the packaged food and beverages segment, the demand for attractive and functional packaging is on the rise, fueled by an increasingly urbanized population seeking convenience and visually appealing products. Shrink sleeve and stretch sleeve labels offer a 360-degree display area, allowing for vibrant graphics and branding elements that capture consumer attention effectively. Additionally, their adaptability to various packaging shapes and sizes makes them indispensable in the labeling and packaging industry.

Amidst concerns about environmental impact and sustainability, there is a growing emphasis on the use of sustainable materials in packaging. Manufacturers are increasingly turning to polymer films derived from recycled sources to address raw material shortages and mitigate the environmental footprint of their products. Furthermore, the recycling process for shrink sleeve and stretch sleeve labels is becoming more streamlined, contributing to efforts towards a circular economy.

However, the market is not without its challenges. Economic slowdowns and shipping delays can disrupt supply chains, affecting the availability and pricing of these labels. Nonetheless, the Asia-Pacific region presents immense market potential, driven by the burgeoning processed food market in countries like India. Companies are investing in research and development to innovate new label solutions tailored to meet the unique demands of this diverse market.

In North America, manufacturers are leveraging advanced printing technologies to meet the rising demand for high-quality labels with intricate graphics and brand security features. The competitive landscape is dynamic, with companies vying to differentiate themselves through product width and breadth, application dominance, and global presence.

In conclusion, the global shrink sleeve and stretch sleeve labels market is poised for continued growth, driven by factors such as urbanization, convenience, sustainability, and brand security. With the right blend of innovation and strategic investments, companies can capitalize on the rising demand for visually appealing and functional packaging solutions.

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Market Overview

In the market of shrink sleeve and stretch sleeve labels, polymer films play a pivotal role, offering robust anti-counterfeiting features to safeguard packaged food and beverages. With a remarkable growth rate, these labels, categorized into stretch and shrink types, dominate the packaged food and beverages segment. Their wide geographical coverage underscores their global significance. Expert analysis reveals their integral role in brand protection and consumer engagement. Production and capacity advancements continually reshape the industry landscape, while intricate network layouts optimize distribution. A meticulous price trend analysis and deficit analysis further illuminate market dynamics, propelling innovation and competitiveness in this dynamic sector.

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ToC:

1 Executive Summary
2 Landscape
3 Sizing
4 Historic Size
5 Five Forces Analysis
6 Segmentations
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix

About Technavio

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With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio