Summary
Major players in the stretch sleeve & shrink sleeve labels market are Berry Global Inc., CCL Industries Inc., Huhtamäki Oyj, Klöckner Pentaplast, Fuji Seal International Inc, The Dow Chemical Company, Hammer Packaging Corp., SleeveCo, Amcor PLC, Fort Dearborn Company, Clondalkin Flexible Packaging, Taghleef Industries, Bonset America Corporation, Edwards Label Inc., Polysack Flexible Packaging Ltd., and Westrock Company.
The global stretch sleeve and shrink sleeve labels market is expected to grow from $13.58 billion in 2022 to $14.59 billion in 2023 at a compound annual growth rate (CAGR) of 7.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The stretch sleeve and shrink sleeve labels market is expected to reach $18.63 billion in 2027 at a CAGR of 6.3%.
The stretch and shrink sleeve label market consists of sales clear sleeves, printed sleeves, tamper-evident sleeves, perforated sleeves, and dual-layer sleeves.Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Stretch and shrink sleeve labels refers to plastic or polyester labels that wrap around the entire perimeter of a product and conform to the unique shape of the packaging. They are flexible labeling solutions that can be used for brand image, details, and product protection in a wide range of sectors.
Asia-Pacific was the largest region in the stretch and shrink sleeve label market in 2022. The regions covered in stretch and shrink sleeve label report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of stretch sleeve & shrink sleeve labels are shrink sleeve, and stretch sleeve.Stretch sleeves are composed of a recyclable material known as polyethylene, making them a great choice for firms that prioritize sustainability.
The various polymer films include PVC, PETG, OPS, PE, and other polymer films.The various embellishing types include hot foil, cold foil, and other embellishing types, with various printing techniques such as rotogravure, flexography, digital printing, and other printing technology.
These are used in various applications such as food, soft drinks, alcoholic drinks, cosmetics and household, pharmaceutical, and other applications.
The increasing demand in the food and beverage industry is expected to boost the growth of the stretch sleeve and shrink sleeve label markets going forward.The food and beverage industry refers to all businesses that handle the processing, packaging, and distribution of uncooked food.
Stretch sleeve labels and shrink sleeve labels are frequently utilized in the food and beverage industries for packaging and branding, these labels are composed of a flexible material that can be stretched or shrunk to fit tightly around a container, providing 360-degree visibility.For instance, in 2021, according to the Food & Drink Federation, a UK-based organization that represents and advises UK food and drink manufacturers, Scotland registered 1,185 companies that manufacture food and beverages.
Further, exports of food and beverages rose by 12% in 2021 to $7.9 billion (£5.9 billion). Additionally, in the same year, food and beverage turnover accounted for $12.5 billion (£10.4 billion), which is 30% of total Scottish manufacturing. Therefore, the increasing demand in the food and beverage industry is driving the growth of the stretch sleeve and shrink sleeve label markets.
Product innovations are a key trend gaining popularity in the stretch sleeve and shrink sleeve label market.Companies operating in the stretch sleeve and shrink sleeve label market are adopting innovative solutions to sustain their position in the market.
For instance, in January 2023, CCL Industries Inc., a Canada-based company that manufactures the largest label, launched a stretch sleeve with a 30-micron thickness. This ultra-thin stretch sleeve was designed to provide ultra durability and is much thinner at 30 microns than the ’standard’ 45-micron sleeves. This uses less raw material which helps lower the product’s carbon footprint.
In March 2021, Fort Dearborn, a US-based company that offers packaging solutions, acquired Hammer Packaging Corporation for an undisclosed amount.This acquisition broadened, diversified, and enriched Fort’s portfolio in terms of capabilities and product offerings, which include cut and stack, in-mold, pressure-sensitive, roll-fed, shrink and stretch sleeve labels, and flexible packaging.
Hammer Packaging Corporation is a US-based company specializing in package printing that operates in the stretch sleeve and shrink sleeve label markets.
The countries covered in the stretch and shrink sleeve label market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The stretch sleeve & shrink sleeve labels market research report is one of a series of new reports that provides stretch sleeve & shrink sleeve labels market statistics, including stretch sleeve & shrink sleeve labels industry global market size, regional shares, competitors with a stretch sleeve & shrink sleeve labels market share, detailed stretch sleeve & shrink sleeve labels market segments, market trends and opportunities, and any further data you may need to thrive in the stretch sleeve & shrink sleeve labels industry. This stretch sleeve & shrink sleeve labels market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
