Ottawa, Oct. 17, 2024 (GLOBE NEWSWIRE) -- The global shrink and stretch sleeve labels market size is predicted to increase from USD 14.98 billion in 2025 to approximately USD 23.48 billion by 2032, according to a study published by Towards Packaging a sister firm of Precedence Statistics. The Asia Pacific dominated the shrink and stretch sleeve labels market with the largest market share of 37.35% in 2023 and is expected to expand at a notable CAGR of 8.30% during the forecast period.
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Key Takeaways: Leading Factors of the Shrink and Stretch Sleeve Labels Market
- Requirement of labels due to increase in packed food consumption is the major factor that drives the market.
- Brand-focused culture drives growth in North America due to labels providing versatile information.
- Food and beverage industry is the dominating sector in market due to providence of skilled label demands.
- Environmental concern due to production of excessive plastic waste is the unceasing challenge for the market.
Market Overview
Product Safety and Visual Appeal Attracts Consumers
The Shrink and Stretch Sleeve Labels market revolves around the protective layer of packaging which provides visual appeals and accurate information of a product, thus, increasing the product demand. Along with this, brand differentiation and protection are the leading objectives of the market. The product safety feature also includes protection from damage and tampering which increases shelf life and in result also increases the profit margin of companies due to brand logo and consumer trust.
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Driver
Demand for Packed Food and Integration of Technologies
The major driving factor is the increasing demand for packed food as the visual appearance satisfies the consumer and also gains the consumer’s trust due to strong barrier protection. The labels also ensure brand differentiation by providing them unique designs. The technological advancements have added a new feature which has reduced the weight of labels and also created a thin base. The strengths of the label material remain the same, although, technological integration has reduced thickness of the material. The sustainability concern promotes recyclability pattern to reduce industrial waste and to develop more recovery schemes. Cloud computing and the Internet of Things have made the printing process faster and automation has made shipments and manufacturing of the labels an easy task.
Restraint
Expensive Production Costs and Strict Regulations Hinder the Market Growth
The leading challenges which hinder the growth of the shrink and stretch sleeve labels market is higher production costs and government regulations. The custom label printing which includes label size, print method, required tooling and the number of colours specialized articulate the label price. The government regulations with its time-consuming nature hinder the growth of the market. Apart from this, changes in regulations due to external factors and economic factors increase the challenge for the market stability.
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Opportunity
Key Players are Adapting Sustainable Solutions
The shrink and stretch sleeve labels market offers opportunities in manufacturing of sustainable labels made from bio-degradable materials and also manufacturing label materials which will be easily recyclable. The demand for sustainable packaging solutions which will produce less garbage holds key player’s attention increasing opportunities for eco-friendly packaging solutions.
Regional Insights
Asia Pacific led the shrink and stretch sleeve market in 2023 due to its rapid economic development which is parcel of growing urbanisation and their high disposal incomes. The focus on cost-effective production which grew due to demand of expanding consumer base. In India, product labelling is an integral part as it provides information to consumers and gains their trust. The labelling serves as a primary medium which provides nutritional information, manufacturing date, expiry date and handling instructions. Labelling compliance refers to the regulations that are necessary and are followed by product packaging companies. There are two types of product labelling guidelines which are BIS (BUREAU OF INDIAN STANDARDS MARK) and CRS (COMPULSORY REGISTRATION SCHEME).
Apart from this, BEE (Bureau of Energy Efficiency) Star Labelling Requirements is also an essential label for products and it has two variants which are comparative label which is applicable to refrigerators, air-conditioners, water heaters and washing machines and endorsement label which is applicable to ceiling fans, tube lights, computers/laptops and televisions. In addition, the product label must also include product information, written part, logo, brand colour, material and product shape.
- In March 2024, Brother International (India) Pvt Ltd, a leading provider of labelling solution for the corporate and B2B sector had launched a labelling technology and printing solution. The IOT-enabled label printer was a cost-effective solution and the long-lasting labels also offered inbuilt labelling templates along with seamless printing feature.
North America is observed to grow at the fastest rate in the shrink and stretch sleeve market during the forecast period. The market is driven by versatile information which is essential to grow the consumer demand as well. The information provided by the labels differ based on brand’s popularity and their product presentation. American consumers before buying any product read articles and blogs about it and labels serve an as important medium that provides information on the spot. According to Amazon Ads, brand awareness help consumers to become familiar with its logo, name, products and other assets and it is due to labels which target the exact audience to grow product demand. The use of plastic has led Americans to sustainable solutions for Shrink and Stretch Sleeve Labels market.
- In November 2023, Domino had launched N610i-R, a digital Retrofit hybrid printing model which was developed for OEMs and was able to provide flexibility of hybrid inkjet printing. The company also stated that it was a cost-effective solution with a printing capability of 72%.
Europe is the established and mature market, given the reason that it has well-rooted companies which focus more on providing sustainable solutions and government regulation which have made drastic changes in regulation acts for environment protection. According to EU Ecolabel, an EU-wide ISO 14024 Type I ecolabelling scheme, which is under the management of the European Commission and Member States and acts according to the aims set by Strategic Working Plan for the EU Ecolabel. The Ecolabel is a transparent and reliable label which attracts many manufactures due to the scheme it provides and also promotes voluntary schemes and services that showcase environmental excellence. The label promotes the benefits of adopting sustainable solutions.
- In January 2023, the European Parliament had approved a new directive which imposed stricter regulations on product labelling and prohibited use of misleading information. The directive was a significant move against companies which had created false image of being an environmental brand. The European Parliament had aimed to stop companies from using vague claims which attracted consumers and the new greenwashing legislation serves the purpose.
Top Companies Leading the Shrink and Stretch Sleeve Labels Market
- CCL Industries Inc.
- Berry Global Inc.
- Avery Dennison Corporation
- Dow Chemical Company
- Clondalkin Group
- Fuji Seal International Inc.
- Westrock Company
- Klockner Pentaplast Group
- Huhtamaki Oyj
- Macfarlane Group PLC
- WestRock Company
- Amcor PLC
Recent Developments
| Company | Ministry of Power |
| Headquarters | India |
| Recent Development | In March 2024, the Bureau of Energy Efficiency under the Ministry of Power, Government of India had introduced new standards and labelling program and its aim was to assist consumers and inform them regarding cost-effective and energy performances of different appliances. |
| Company | UV Graphics |
| Headquarters | Uttar Pradesh, India |
| Recent Development | In November 2022, UV Graphics, a leading manufacturer of UV curing systems, printing and allied machinery had developed a digital printing and finishing hybrid printing press with four flexo stations. It had also developed a 7-colour inkjet and a 2-colour embellishment system for digital finishing which was able to produce labels for FMCG, pharma, liquor, cosmetics and electronics. |
Segmental Insights
By Embellishing Type
The hot foil embellishing segment is the dominating segment in the shrink and stretch sleeve labels market. It is dominating due to its properties which are providing an elegant and eye-catching print. The hot foil embellishing segment provides a perceived value and high-quality finishing look to the product which is possible due to the metallic nature of the foil. Apart from this, hot foil can create customized look and its heating mechanism enhances the appearance. Furthermore, the pressure system ensures the sufficient adhesion of the foil to the surface.
The cold foil embellishing segment is the fastest growing segment in shrink and stretch sleeve labels market. It will dominate the market due to its properties which are providing eye-catching and luxury appearance and brand protection. The cold foil embellishing segment offers a unique shelf effect and also offers environmental sustainability. Premiumization and brand protection are the essential features of the cold foil embellishing segment.
By Application
The food and beverage segment is the dominating segment in shrink and stretch sleeve labels market. The segment dominates due accommodation of labels based on product’s sizes and shapes. The Shrink and Stretch Sleeve Labels provide information which differentiates brands from one another, and it also provides visual appeals to attract consumers. Th strict government regulation against prompting false information has increased the Shrink and Stretch Sleeve Labels demand in food sector.
The pharmaceutical segment is the fastest growing segment in the shrink and stretch sleeve labels market. The segment dominates due to labels providing protection against oxygen, moisture and also ensuring product integrity. The strict regulations which are set by regulatory bords which make it necessary for product labels to add accurate information which mentions brand mark, name and address of manufacturing unit, country of origin and caution marks. Health care companies are strict when selecting a good label company and also checks whether they include unique codes or bar codes for the product.
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Shrink and Stretch Sleeve Labels Market Segment
By Polymer Film
- PVC
- PETG
- OPS
- PE
- Others
By Embellishing Type
- Hot Foil Embellishing
- Cold Foil Embellishing
By Printing Technology
- Flexographic
- Digital Printing
- Rotogravure/Gravure
- Offset Printing
- Hybrid Printing
By Application
- Food
- Beverages
- Soft Drinks
- Wine & Spirit
- Healthcare
- Beauty & Personal care
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- France
- Germany
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South-East Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
View Shrink and Stretch Sleeve Labels Market Full TOC: https://www.towardspackaging.com/table-of-content/shrink-and-stretch-sleeve-labels-market-sizing
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About Us
Towards Packaging is a leading global consulting firm specializing in providing comprehensive and strategic research solutions. With a highly skilled and experienced consultant team, we offer a wide range of services designed to empower businesses with valuable insights and actionable recommendations. We stay abreast of the latest industry trends and emerging markets to provide our clients with an unrivalled understanding of their respective sectors. We adhere to rigorous research methodologies, combining primary and secondary research to ensure accuracy and reliability. Our data-driven approach and advanced analytics enable us to unearth actionable insights and make informed recommendations. We are committed to delivering excellence in all our endeavours. Our dedication to quality and continuous improvement has earned us the trust and loyalty of clients worldwide.
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