ID: MRFR/PNT/1253-HCR | February 2023 | Region: Global | 130 Pages
Shrink Sleeve Labels Market is projected to be worth USD 27.9 Billion by 2030, registering a CAGR of 6.4% during the forecast period (2021 - 2030).
$27.9 Billion
6.4%
North America
2021-2030
Shrink Sleeve Labels Market is projected to be worth USD 27.9 Billion by 2030, registering a CAGR of 6.4% during the forecast period (2021 - 2030).
Shrink sleeve labels are the most convenient and ideal labels for products exposed to severe moisture and friction. It is in full color, has abrasion and moisture resistance, and has 360-degree printed labels that utilize heat in the application process to conform the label to the shape of the container. The labels are typically printed on plastic or polyester material and are commonly used on aluminium cans, glass, or plastic bottles.
Increasing demand for extended shelf-life of the product is expected to boost the market growth of the shrink sleeve labels. Most shrink sleeve labels are based on advanced security features such as 360-degree branding and UV protection that are demanded to increase the shelf-life of products. Furthermore, rising strict rules and regulations to counter tampering and counterfeiting in the food & beverage industry are expected to augment the market growth. Increasing cases of counterfeit and tampered products have raised enforcement of stringent regulations to reduce such cases. Because of this, major companies are determining shrink sleeve labels over pressure-sensitive tapes, and in-molds since the shrink sleeve label is over tamper-evident packaging. This, in turn, is propelling the market growth. India has the biggest market share in this region, with 39.8%. The constantly evolving food and beverage industry is a major factor supporting the growth of the target market in this region. Further, the consistent addition of new players offering organic and healthy food and beverages is bolstering demand for shrink sleeve labels worldwide.
COVID-19 Analysis
The COVID-19 pandemic has brought significant changes in many industries by interrupting shipping and affecting the raw material supply. Due to the spread of the pandemic across the world, there was a negative impact on many sectors, like the food and beverage industries and the electronic and construction industries. Now that the pandemic seems to be over, the shrink sleeve labels market is expected to see a great demand in the coming years because of the rapid population growth and disposable income.
Market Dynamics
The main driver which boosts the growth of the Shrink Sleeve Labels Market Share is the benefits of using the shrink sleeve materials for the packaging. Some benefits are it is available in the low-cost effectiveness, can hold the packaging even with the thin and can also expand its elasticity, and it has the also the capacity to get the work with the 360-degree coverage.
The additional driver which focuses on the growth of the Shrink Sleeve Labels Market Share is the usage of the shrink sleeve labels in the industries like the pharmaceutical, food and beverages industries are also some of the factors which pave the way to the growth of the Market.
The application of the shrink sleeve materials in recent days has been increased, this is because of the growth of the population, and growth in the digital trend in using the Shrink Sleeve Labels Market has increased. In addition to that, the increase in the usage of the shrink sleeve labels in the pharmaceutical companies and the food and beverages industries to pack the products also boost the market value.
The hindrance which has been created by the growth of the stand–up pouches in the recent days has increased, thus it hinders the growth of the Shrink Sleeve Labels Market. As the stand-up pouches are available at a low cost, lightweight to carry, user–friendly, and also safe for the environment. So these stand up pouches are preferred when compared to the shrink sleeve. Because of the growth of the stand-up pouches market, the growth of the shrink sleeve is been restricted.
In recent years the recycling process of the sleeves are the biggest challenge which is faced by the market. Though the sleeve products are recyclable it takes more process than the manufacturing, so the manufacturing companies are concentrating to reduce the cost of recycling by developing its technology. As the demand for the usage of the sleeves products has also increased, so the manufacturing companies have also increased the process for recycling.
Cumulative growth analysis
The main impact which brings the growth of the Shrink Sleeve Labels Market Value is the usage of the shrink sleeve packaging in the industries like the pharmaceutical industries, food and beverage industries. Also in recent days due to the spread of the pandemic, there is a great demand for the usage of shrink sleeve products in food and beverage products.
The factor which boosts the growth of the Shrink Sleeve Labels Market is the benefits of using the shrink sleeve products. Some benefits are the low cost, reusable, environment friendly, covers 360 degrees.
Value chain analysis
The overall Shrink Sleeve Labels Market Growth is stable because of the increase in demand for the usage of shrink sleeve products in recent days. Though there is a drastic growth in the shrink sleeve labels in the market there is also some interrupting factors. The usage of stand up pouches in recent days have increased because of its benefits, which negatively impact the growth of the Shrink Sleeve Labels Market.
Market segment overview
North America – US, Canada
Latin America – Mexico, Brazil, Peru, Chile and Others
Western Europe – Germany, UK, France, Spain, Italy, Nordic countries, Belgium, Netherlands, Luxembourg
Eastern Europe – Poland, Russia
Asia Pacific – India, Japan, China, ASEAN, Australia, New Zealand
The Middle East and Africa – GCC, Southern Africa, North Africa
Competitive landscape
To develop the Shrink Sleeve Labels Market Outlook many key players are working hard to develop. They are also performing many strategies and ideas to develop the growth of the Market. In recent days due to the development and the demand in the usage, the key players are planning to expand their business and enhance their product offerings in many regions. They are also in talks to merge with other players to overcome the demand and deliver the product at the correct time.
Regional analysis
The overall growth of Shrink Sleeve Labels Market Analysis is been great in many regions like the Asia Pacific, Europe, North America and The Middle East and Africa.
In recent days the growth of the Asia Pacific region is tremendous. In short, the Asia Pacific region is holding the largest position in the Shrink Sleeve Labels Market. This growth in the Asia Pacific region is because of the many regions contribution. Some regions like India, China and Australia are working hard to gain growth in many industries like food and beverages, healthcare and beauty and personal care which paves the way to the growth of the Market. Additionally, the countries are also having an increase in the population and also in those countries the availability of the raw materials and the availability of the labours have been increased, so this has also paved the way for the growth of the Shrink Sleeve Labels Market in the Asia Pacific region.
This region is followed by North America, as the key players are working with the new innovative ideas to get the gradual growth.
Key players
Recent Developments
Market overview
Report Attribute/Metric | Details |
---|---|
Market Size | 2030: Significant Value |
CAGR | 6.5% CAGR (2022-2030) |
Base Year | 2021 |
Forecast Period |  2022 to 2030 |
Historical Data | 2019Â &Â 2020 |
Forecast Units | Value (USD Million) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Type, Material and Application |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Vendors | Berry Global, Inc. (U.S.), Bonset America Corporation (U.S.), CCL Industries Inc. (Canada), Fuji Seal International, Inc. (Japan), Huhtamäki Oyj (Finland), Hammer Packaging, Inc. (U.S.), Klöckner Pentaplast (Germany), Macfarlane Group PLC (U.K.), Polysack Flexible Packaging Ltd. (Israel), Paris Art Label Company Inc. (U.S.), Cenveo, Inc. (U.S.), The Dow Chemical Co. (U.S.), Avery Dennison Corporation (U.S.), Clondalkin Group (the Netherlands), and Constantia Flexibles (Austria) |
Key Market Opportunities | New product launches and R&D Amongst major key Players |
Key Market Drivers |
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The shrink sleeve labels market is projected to register 5.6% CAGR.
By type, the shrink sleeve labels market is segmented into shrink and stretch.
The segments of the shrink sleeve labels market based on application are food & beverage, personal care, pharmaceuticals, and others.
The key participants are Berry Global, Inc. (U.S.), CCL Industries Inc. (Canada), Bonset America Corporation (U.S.), Fuji Seal International, Inc. (Japan), Hammer Packaging, Inc. (U.S.), Huhtamäki Oyj (Finland), Klöckner Pentaplast (Germany), Polysack Flexible Packaging Ltd. (Israel), Macfarlane Group PLC (U.K.), Paris Art Label Company Inc. (U.S.), Clondalkin Group (the Netherlands), The Dow Chemical Co. (U.S.), Cenveo, Inc. (U.S.), Avery Dennison Corporation (U.S.), and Constantia Flexibles (Austria)
The material based segments are PVC, Polylactic Acid Films, Expanded Polystyrene Films, PET-G, PE, and others.