Stretch Sleeve & Shrink Sleeve Labels Market Size - By Polymer Film (PVC, PETG, OPS, PE, Others), By Embellishing Type (Hot Foil, Cold Foil), By Printing Technology, By Application, Forecast 2023 – 2032

Stretch Sleeve & Shrink Sleeve Labels Market Size - By Polymer Film (PVC, PETG, OPS, PE, Others), By Embellishing Type (Hot Foil, Cold Foil), By Printing Technology, By Application, Forecast 2023 – 2032

Stretch Sleeve & Shrink Sleeve Labels Market Size

Stretch Sleeve & Shrink Sleeve Labels Market was valued at over USD 15 billion in 2022 and is estimated to register a CAGR of over 7% between 2023 and 2032. Stretch sleeve & shrink sleeve labels are specialized packaging solutions. Stretch sleeves are elastic labels that conform to container shapes without shrinking and used for tamper-evident packaging or branding. Shrink sleeves are plastic labels that, when heat is applied, shrink to tightly fit containers, providing 360-degree graphics and protection. These labels are commonly used in industries, such as food & beverage, cosmetics, and pharmaceuticals, for product differentiation, branding, and packaging efficiency.

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The global industry is expanding rapidly owing to growing consumer preferences for packaged food and drinks. Convenient, ready-to-eat products are becoming more popular, which has increased the demand for visually appealing and informative packaging. Stretch & shrink sleeves are popular in the food & beverage industry as they provide tamper-evident features, 360-degree branding, and product differentiation. As long as the demand for packaged goods keeps growing, this trend should propel steady market expansion. For instance, in October 2023, Taghleef Industries offered a new solution with NATIVIA PLA Label coupled with biobased adhesive and inks for a compostable fruit band. Every product needs a label, but every label should be fit for the product. As fruit labels, bands, and stickers are frequently found in organic waste, they should be designed in such a way that do they do not contaminate it.
 

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The stretch sleeve & shrink sleeve labels market presents a significant challenge in balancing cost-effectiveness with high-quality labeling. While companies aim to improve their products with visually appealing and informative labels, budget constraints may prevent them from investing in high-quality materials and printing methods. This fine balance can hinder market expansion, particularly for smaller businesses trying to balance the need for cost-effective solutions with maintaining label quality and consumer appeal.

COVID-19 Impact

The COVID-19 pandemic impacted the stretch sleeve & shrink sleeve labels industry in various ways. Supply chain disruptions, reduced production capacities, and fluctuating demand due to lockdowns and economic uncertainties hampered industry growth. Many businesses postponed labeling and packaging investments to cope with financial challenges. However, as the pandemic subsided, the market recovered since the demand for packaged goods remains strong and e-commerce growth fuels packaging requirements.

Stretch Sleeve & Shrink Sleeve Labels Market Trends

There are several notable trends in the stretch sleeve & shrink sleeve labels industry. First, there is a growing concern about sustainability as evidenced by the need for eco-friendly labeling materials and the emphasis on recyclability, reflecting a greater awareness about environmental issues. Businesses use these labels to create attractive packaging, improve shelf appeal, and increase consumer engagement. Branding and product differentiation are still important. The food & beverage sector plays a major role as these labels are widely used for goods such as drinks, processed foods, and snacks. Stretch & shrink sleeves are also used by the personal care and cosmetics industries to improve aesthetics and for differentiation.

Advancements in printing technology and materials are fostering innovations in label designs and functionalities. The pharmaceutical and healthcare sectors rely on these labels for tamper-evident & informative purposes. As e-commerce is growing, the packaging industry including stretch & shrink sleeves is adapting to cater to online retailing needs with labels designed to protect products during transit and enhance brand recognition.

Stretch Sleeve & Shrink Sleeve Labels Market Analysis

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Based on application, the market is segmented into beauty & personal care, food, healthcare, soft drinks, wine & spirit, and others. The soft drinks segment dominated the global market in 2022, accounting for a share of over 24%.

• Soft drink manufacturers are increasingly using stretch & shrink sleeves for branding and packaging enhancement. These labels provide a versatile canvas for vibrant graphics, information about nutrient content, and promotional messages. As consumer demand for convenience and variety in beverages is rising, soft drink companies are utilizing these labels to differentiate their products and create eye-catching packaging.
• The demand for smaller beverage sizes, such as single-serve options, has surged, driving the need for effective labeling solutions. The growth of the soft drinks sector is propelling the demand for stretch & shrink sleeve labels as a valuable tool for product differentiation and marketing.

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Based on embellishing type, the market is divided into hot foil embellishing and cold foil embellishing. The hot foil embellishing segment held a dominant market share in 2022 and is expected to register a CAGR of 7% through 2032.

• The hot foil embellishing segment is experiencing growth in the stretch sleeve & shrink sleeve labels industry due to ability of this technique to create striking and luxurious label designs. This embellishment technique involves applying metallic or colored foils to labels, enhancing their visual appeal, and creating a premium, high-end look.
   
• Brands prefer using the hot foil embellishment technique to set their products apart, enhance shelf presence, and increase brand awareness. This technique is becoming more popular in the label industry owing to the growing consumer preference for aesthetically pleasing packaging. This segment is driving the market growth. The technique is especially preferred in the luxury goods, spirits, and cosmetics industries as it lends a touch of sophistication and elegance to product packaging

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North America dominated the global stretch sleeve & shrink sleeve labels market with a share of over 25% in 2022. The strong regional food & beverage industry, along with stringent labeling regulations, is driving the demand for these labels. Consumer inclination toward convenience and visually appealing packaging has also augmented market expansion. As e-commerce is growing, North American businesses are increasingly adopting stretch & shrink sleeves to enhance product presentation and protection for online sales. This dynamic environment, coupled with a focus on sustainability and product differentiation, is fueling growth trajectory of the market in North America.

Stretch Sleeve & Shrink Sleeve Labels Market Share

The players operating in the stretch sleeve & shrink sleeve labels industry focus on implementing different growth strategies to strengthen their offerings and expand market reach. These strategies involve new product development & launches, partnerships & collaborations, mergers & acquisitions, and customer retention. The market players also heavily invest in R&D to introduce innovative & technologically advanced solutions in the market. The major players operating in the stretch sleeve & shrink sleeve labels industry are

• Berry Global Inc.
• CCL Industries Inc.
• Huhtamaki Oyj
• Klöckner Pentaplast
• Amcor PLC
• Fuji Seal International
• Taghleef Industries

Stretch Sleeve & Shrink Sleeve Labels Industry News

• In July 2023, CCL Industries Inc., a world leader in specialty label, security, and packaging solutions for global corporations, government institutions, small businesses, and consumers, acquired Creaprint S.L., based in Alicante, Spain. Creaprint is a specialist in mold label (IML) production with a manufacturing facility in Alicante and a sales office in Miami, Florida. In 2022, the company generated sales of USD 17 million and adjusted EBITDA of USD 5.1 million.
   
• In October 2021, Taghleef Industries launched the SHAPE360 shrink films range, featuring a new & updated SHAPE360 TDS, the leading-edge solution for TD shrink sleeve labels. SHAPE360 TDS is a high TD shrink clear label film that improves PET bottle recycling quality and efficiency by ensuring the separation of floatable printed sleeves from rigid PET flakes.

The stretch sleeve & shrink sleeve labels market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD billion) from 2018 to 2032 for the following segments

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 Market, By Polymer Film

• PVC
• PETG
• OPS
• PE
• Others

Market, By Embellishing Type

• Hot Foil Embellishing
• Cold Foil Embellishing

Market, By Printing Technology

• Flexographic
• Rotogravure/Gravure
• Digital Printing
• Offset Printing
• Hybrid Printing

Market, By Application

• Beauty & Personal care
• Food
• Healthcare
• Soft Drinks
• Wine & Spirit
• Others

The above information is provided for the following regions and countries

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • ANZ
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• MEA
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA