The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

 

Market Overview

• 2023 Market Size: $14.59 billion
• 2024 Market Size: $15.63 billion
• CAGR: 7.1% (2023-2024)

The stretch sleeve and shrink sleeve labels market has experienced significant growth in recent years. This growth is driven by several factors including brand differentiation, product visibility, regulatory compliance, and consumer convenience.

 

Future Projections

• 2028 Market Size: $19.88 billion
• CAGR: 6.2% (2024-2028)

The market is expected to continue its upward trajectory, propelled by increased adoption in the beverage industry, the rise of e-commerce packaging, and a focus on recyclability and smart packaging.

 

Key Growth Drivers

Increasing Demand in Food and Beverage Industry

• Use in Packaging: Stretch and shrink sleeve labels offer 360-degree visibility.
• Market Example: In Scotland, food and beverage exports rose by 12% in 2021.

The food and beverage industry’s demand for effective packaging solutions drives the growth of stretch and shrink sleeve labels, offering flexibility and visibility for products.

E-Commerce and Packaging Innovations

• E-Commerce Growth: Increased packaging requirements.
• Sustainability: Emphasis on recyclable materials.
• Smart Packaging: Integration of advanced technologies.

The surge in e-commerce and the push for sustainable and smart packaging solutions are significant contributors to market growth.

 

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Major Trends in the Forecast Period

Sustainable Packaging

• Demand: Rising consumer and regulatory pressure.
• Technologies: Advanced printing technologies.
• Compliance: Meeting labeling standards.

Sustainability is a critical trend, with companies investing in eco-friendly materials and technologies to meet consumer and regulatory expectations.

 

Industry Innovations

Ultra-Thin Stretch Sleeve Labels

• Innovation by CCL Industries: Launched 30-micron thickness stretch sleeve in January 2023.
• Benefits: Enhanced durability and reduced carbon footprint.

Product innovations, such as ultra-thin stretch sleeves, are pivotal in maintaining market competitiveness by reducing material usage and improving sustainability.

Fort Dearborn’s Acquisition of Hammer Packaging

• Acquisition Date: March 2021
• Benefits: Expanded product portfolio including cut and stack, in-mold, pressure-sensitive, roll-fed, shrink, and stretch sleeve labels.

Strategic acquisitions like Fort Dearborn’s acquisition of Hammer Packaging enrich product offerings and capabilities, strengthening market positions.

 

Market Segmentation

By Type

• Shrink Sleeve
• Stretch Sleeve

By Polymer Film

• Poly Vinyl Chloride (PVC)
• Polyethylene Terephthalate Glyco (PETG)
• Oriented Polystyrene (OPS)
• Polyethylene (PE)
• Other Polymer Films

By Embellishing Type

• Hot Foil
• Cold Foil
• Other Embellishing Types

By Printing Technology

• Rotogravure
• Flexography
• Digital Printing
• Other Printing Technologies

By Application

• Food
• Soft Drinks
• Alcoholic Drinks
• Cosmetics and Household
• Pharmaceutical
• Other Applications

 

Regional Insights

Asia-Pacific Dominance

• Largest Market: Asia-Pacific was the largest region in the stretch and shrink sleeve label market in 2023.

The dominance of the Asia-Pacific region in 2023 highlights the region’s significant role in the global market, driven by its large consumer base and manufacturing capabilities.

 

Key Market Players

• Companies: Berry Global Inc., CCL Industries Inc., Huhtamäki Oyj, Klöckner Pentaplast Group, Fuji Seal International Inc., Hammer Packaging Corp., Sleeveco Inc., Amcor PLC, Fort Dearborn Company, Clondalkin Group Holdings B.V., and others.

Leading companies in the stretch sleeve and shrink sleeve label market are actively involved in innovations, mergers, and acquisitions to enhance their market positions and offer diverse product solutions.

 

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The Stretch Sleeve & Shrink Sleeve Labels Global Market Report 2024  provides comprehensive insights on the stretch sleeve & shrink sleeve labels market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the stretch sleeve & shrink sleeve labels market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

 

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