The stretch sleeve labels market analysis has shown a notion of advancement, with a CAGR of 3.10% predicted from 2024 to 2034. Drawing from these statistics, the market size is attributed to be US$ 2.7 billion in 2024. Destined for growth, the valuation is projected to be spurred on to US$ 3.6 billion by 2034.
These labels have wide applications in various industries such as food, beverage, pharmaceuticals, personal care & cosmetics, homecare, and others. Stretch sleeve labels are cost-effective as it doesn’t require any adhesive to apply to the containers. Also, the stretch sleeve labels offer the benefit as it can be applied to the entire container which gains traction among the end use industries.
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Moreover, rising regulatory requirement for labelling propels the demand for stretch sleeve labels, especially in the food, beverage, pharmaceuticals, personal care & cosmetics, and other industries. Advancement in technology and development of the latest stretch sleeve labels applicator creates a growth opportunity for the stretch sleeve labels market during the forecast period.
Rising production of various products and the development of new products augment the sales of stretch sleeve labels in the industry. The stretch sleeve labels can be applied to any container with different shapes which adds to the benefits of the stretch sleeve labels.
Key Takeaways from Stretch Sleeve Labels Market
- Polyvinyl chloride (PVC) segment under material type is estimated to represent a dominating market share throughout the forecast period.
- In terms of end-use, the beverages industry is a significant lucrative for the stretch sleeve labels market. It is anticipated to accelerate with a CAGR of 7.3% in the global stretch sleeve labels market.
- North America and Europe are estimated to remain the major revenue-generating region for the stretch sleeve labels market.
- Stretch sleeve labels market is expected to reach a valuation of US$ 5.9 Bn by the end of 2022
“Innovations in stretch sleeve labels market are going to transform the industry in terms of sustainability and several breakthroughs are already in the market that can be leveraged.” –says FMI Analyst
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Rising Consumption of Carbonated and Non-Carbonated Drinks to Boost Stretch Sleeve Labels Market
Shrink sleeve labels are used in the beverage industry on a daily basis for labelling bottles of different shapes and sizes. The demand for a variety of carbonated and non-carbonated drinks has witnessed a sharp rise in the last couple of years.
Growing consumption of non-carbonated and carbonated drinks is due to the increasing millennials in developing countries along with the increasing disposable incomes of consumers. Furthermore, changing preference toward a healthier lifestyle contributes to the massive demand for non-carbonated drinks such as juices, flavored water, and coconut water.
Growth in the demand for such types of drinks, especially for non-carbonated drinks, ultimately creates considerable demand for shrink sleeve labels for labelling bottles on large scale.
Stretch Sleeve Labels Market Landscape
CCL Industries Inc., Huhtamaki Oyj, Klöckner Pentaplast Europe GmbH & Co. KG, Pregis LLC, Atlantic Packaging, and Multi-Color Corporation are some of the key players operating in the stretch sleeve labels market. Walle Corporation, OTK GROUP, a.s., Alupol SA, and Berkshire Labels Limited are also the noticeable players in the stretch sleeve labels market. The tier 1 players in the stretch sleeve labels market hold around 15-20% of the global market share.
Stretch Sleeve Labels Market by Category
By Material Type:
- Polythene Terephthalate Glycol (PETG)
- Polyvinyl Chloride (PVC)
- Polylactic acid (PLA)
- Oriented Polystyrene (OPS)
- Polypropylene (PP)
- Polyethylene (PE)
- Other Materials
By Printing Technology:
- Rotogravure Printing
- Flexographic Printing
- Offset Printing
- Digital
- Letterpress Printing
By End Use:
- Food
- Beverages
- Pharmaceuticals
- Personal care & Cosmetics
- Homecare
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