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

NEW YORK, Nov. 28, 2023 /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 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 growing demand from the organized retail sector drives market growth. The demand for shrink-sleeve and stretch-sleeve labels is the emergence of hypermarkets and supermarkets. There is a 17% growth in retail sales in China in April 2021 over that in April 2020 and is estimated to increase further. The government policies that focus on establishing duty-free shopping zones, which will fuel domestic spending, the removal of provincial barriers from domestic and foreign trade, a reduction in import duties on consumer goods, and rising support for cross-border e-commerce are some of the major factors boosting the market growth. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View a Free PDF Sample 

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.

Market Dynamics:

Trend

• The emergence of sustainable shrink-sleeve and stretch-sleeve labels is an emerging market trend.
• The sustainability issues and environmental issues involved in packaging and labeling include a growing concern among consumers and thus, there is an increasing focus on using recyclable materials and resins derived from renewable resources in the manufacturing of labels in order to reduce pollution.
• Additionally, there is increasing adoption of eco-friendly raw materials by manufacturers such as face stock liners, inks, coatings, and adhesives and minimum labeling on Polyethylene Terephthalate (PET)  bottles.

Challenge

• The presence of substitutes challenges market growth. The substitutes include glue-applied labels and in-mold levels. In glue-applied labels, hot or cold glue is applied to the label or to the container during the application process.
• Furthermore, food and beverage, chemical, and healthcare packaging industries are some of the key application areas of glue-applied labels.
• Additionally, the main advantage of glue-applied labels is that they do not need complex press requirements and are best for long print runs.

The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing the report

Keg Segments:

• 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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Related Reports:

The global heat shrink tubing market size is estimated to grow at a CAGR of 5.84% between 2022 and 2027. The size of the market is forecast to increase by USD 626.94 million.

The PET shrink films market size is expected to increase by USD 509.56 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 6.07%.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Application

Market Segmentation by Product Type

Market Segmentation by Material

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

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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