The global stretch sleeve & shrink sleeve labels market size is expected to reach USD 24.05 billion by 2030 according to a new study by Polaris Market Research. The report “Stretch Sleeve & Shrink Sleeve Labels Market Share, Size, Trends, Industry Analysis Report, By Polymer Film (PVC, PETG, OPS, PE, and Others), By Application (Food, Wine & Spirit, Other Beverages, Beauty & Personal care, Healthcare, and Others), By Printing Technology, By Embellishing Type By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Growth in the market is driven by the rise in a population consuming packaged food and beverages, rise in usage of sustainable packaging solutions across developing economies and GDP, and escalating demand for tamper-evident labels. Based on the printing technology, the gravure segment is dominating the global stretch & shrink Labels market with the highest revenue shares. Gravure, or Rotogravure, is the widely used technology for such tags. It encompasses a direct printing process concerning sturdy and robust machines with exceptional drying, providing a very steady and consistent print. With this technology, fast changeovers and the ability to handle a wide range of substrates for printing. Also, the gravure segment is showing the highest CAGR rate that leads the industry demand in the impending years.
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The stretch and shrink sleeve labeling are fundamentally used in bulk load packaging of food & beverages, and other consumer goods. They are colorful wraparounds that can be used in containers to create a greater aesthetic appeal. Thus, the remarkable application of stretch and shrink labels in the food and beverage packaging and the global rise in demand for consumer goods is driving the growth of the industry over the forecast years. Moreover, these labels are eco-friendly and economical in price that can be pulled over the product container. Therefore, the growing requirements for flexible packaging solutions among different industry verticals are expected to drive the growth potential of the industry.
Major participants such as Berry Global Inc., Huhtamaki Oyj, Fuji Seal International, CCL Industries Inc., Klockner Pentaplast, Bemis Company, and Amcor are some of the key players operating in the global market. For instance, in September 2021, Huhtamaki acquired Elif Holding, with business operations in Egypt and Turkey. This acquisition strengthens Huhtamaki to expand its market positioning and existing flexible packaging business catering to attractive consumer product categories, particularly in developing markets.
Polaris Market Research has segmented the stretch sleeve & shrink sleeve labels market report on the basis of polymer film, application, printing technology, embellishing type, and region:
Stretch Sleeve & Shrink Sleeve Labels, Polymer Film Outlook (Revenue – USD Million, 2018 – 2030)
- Others (PO, PLA, etc.)
Stretch Sleeve & Shrink Sleeve Labels, Application Outlook (Revenue – USD Million, 2018 – 2030)
- Wine & Spirit
- Other Beverages
- Beauty & Personal care
Stretch Sleeve & Shrink Sleeve Labels, Printing Technology Outlook (Revenue – USD Million, 2018 – 2030)
- Digital printing
Stretch Sleeve & Shrink Sleeve Labels, Embellishing Type Outlook (Revenue – USD Million, 2018 – 2030)
- Hot Foil
- Cold Foil
Stretch Sleeve & Shrink Sleeve Labels, Regional Outlook (Revenue – USD Million, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa