The global shrink and stretch sleeve labels market size is estimated to reach USD 25.33 billion by 2033, up from USD 13.51 billion in 2023, at a compound annual growth rate (CAGR) of 6.63% from 2024 to 2033.
Download Statistical Data: https://www.towardspackaging.com/download-statistics/5204
The shrink and stretch sleeve labels market is anticipated to witness significant growth during the forecast period. Stretch and shrink sleeve labels are made of plastic or polyester and wrapped around a product, fitting the specific dimensions of the package. Stretch labels can be dragged across the product container since they are very elastic and usually made-up of LDPE. When exposed to the heat, shrink sleeves are applied loosely and adapt to the product package by passing the product via a heat tunnel. As they provide a 360-degree message branding that improves the product’s effective presentation on the store shelf, stretch and shrink sleeve labels are becoming one of the most desired type of product labeling.
The growing popularity of premium and innovative packaging solutions along with the rise in e-commerce is likely to contribute to the growth of the shrink and stretch sleeve labels market within the estimated timeframe. The growing demand for tamper-evident packaging in food, beverages, and pharmaceuticals are also projected to support the market growth during the forecast period. Furthermore, the versatility of these labels in accommodating various container shapes and sizes as well as the increasing use of labels for product personalization and storytelling is also anticipated to augment the growth of the market in the years to come.
Key Trends and Findings
- Large corporations have encouraged the transformation in the raw materials sector. Few years ago, the average supplier would only provide three or four materials for sustainable labels. Currently, due to the demand from huge organizations, numerous sustainable label choices are available.
- Several campaigns are ongoing to standardize recycling alternatives throughout the globe, but these programs are in their early stages. In the meantime, companies are trying to decrease the requirement to recycle by offering the product package reusable.
- Leading companies are making investments in the enterprise-wide data management solutions to handle packaging and labeling data as a significant and competitive asset as they realize how important it is to integrate these two important company factors.
- Another popular trend in package and label design is the use of basic color palettes, irrespective of hue. At a shelf where the rest is so full of vibrant artwork, color palettes with just two colors plus white or black can truly stand out. When it comes to packing and labels that can be an essential factor. A unique design idea will catch people’s attention right away and might even help to close the first deal with a new client.
- Asia-Pacific is expected to grow at a CAGR of 5.42% during the forecast period owing to the expanding economies and increasing consumer demand for packaged goods along with the rising disposable incomes in the region.
- The North America held largest market share of 37.35% in 2023. This is due to the consumer demand for packaged goods and advanced packaging technologies as well as the growing demand for tamper-evident packaging.
Market Drivers
Increasing demand from Various Industries
The increasing demand labels from various industries globally are expected to augment the growth of the shrink and stretch sleeve labels market within the forecast period. Many food and beverage retailers are already utilizing the shrink sleeve labels on their products, which include sauces, snacks, beverages and more. They like that these labels are tamper-resistant and allow the implementation of a 360-degree design. Furthermore, the shrink sleeves are also being adopted by the pet care sector; food containers, snack packs and the pet shampoos and conditioners are common examples of products with this kind of labeling. Pet care manufacturers like that shrink sleeve labels fit any bottle or container shape and offer tamper-resistance and simple branding.
Additionally, an increasing number of nutraceutical companies are also utilizing shrink sleeve label techniques to make visually appealing packaging for items such as protein powder containers, vitamin/supplement packets and the like. Also, these labels are often applied on personal care and household products, such as cosmetics that must be sealed with a label that is both tamper-evident and visually appealing. Shrink sleeve labels on some makeup items, like pressed powders, can also aid in minimizing undesired moving of the product itself. Tamper-evident packaging and 360-degree label design are advantageous for sealants, cleansers, and auto fuel additives. Measurement windows may also be readily accommodated with this form of labeling, which is an essential component in the packaging of many automobile products. Thus, the diverse application of these labels across multiple industries is supporting the growth of the market during the estimated timeframe.
Market Restraints
Alternative Labeling and Packaging Solutions
The presence of various other labeling and packaging solutions is likely to hamper the growth of the shrink and stretch sleeve labels market within the estimated timeframe. Pressure-sensitive (PS) labels are highly versatile among the various labeling solutions available. They are possibly one of the affordable marketing tool available to companies due to the numerous ways in which adhesives, coatings, multiple panels, facestocks, inks and the die cuts can be combined. With PS labels, brands can easily alter label designs to satisfy the changing consumer preferences. For brand communication, they provide a colorful canvas for everything from images to educational panels. The versatility, reliability as well as the customizability of pressure-sensitive labels makes them useful in a wide range of applications.
For Instance,
- PS labels are frequently deployed for shelf and price labeling in the retail stores, making it easy to change the prices and display the product details. When it comes to branding the consumer goods like food, drinks, personal care products and cosmetics, PS labels are essential. They offer plenty of room for colorful branding while resisting to the environmental influences.
Furthermore, the way in which the products are packaged, kept and delivered has been completely transformed by flexible packaging solutions like sachets and pouches. Its versatility, strength and portability make it an attractive choice for a range of uses. Flexible pouches have many advantages for food, drink, pharmaceuticals and industrial items. Due to its great barrier qualities against moisture and oxygen, minimal material consumption, and affordability, stand-up pouches have emerged as one of the most popular packaging items.
Since pillow pouches are being used more frequently in the dairy, food, and beverage industries, they have also seen a significant growth. These alternatives often come with lower initial investment costs, simpler application processes as well as the ability to meet specific regulatory and consumer demands more effectively. Since companies continue to explore and adopt these diverse labeling and packaging options, the competitive landscape becomes increasingly challenging for the shrink and stretch sleeve labels market.
Market Opportunities
Eco-Friendly Innovations and Adoption of Sustainable Materials
Consumer packaged goods companies are increasingly adopting stretch and shrink sleeves labels due to their many advantages, which include 360 degree label coverage, precise label shrinkage to any unusual form or size, a simpler and more economical application method. But as shrink sleeves have become more widely used, so too have the worries regarding their potential for recycling. However, the discussion around de-inking has started to shift with the development of washable solvent-based shrink sleeve inks, which have given environmentally conscious companies the opportunity to offer their customers a recyclable product together with stunning, eye-catching shrink sleeve labels. Ink particles created by washable solvent-based inks are large enough to be easily filtered out of the caustic wash without causing damage to the plastic. This is achieved through a restricted and controlled release of ink from the shrink sleeve film. Therefore, this kind of ink preserves all of the advantages of solvent-based inks while enabling greater recyclability.
Furthermore, to get the customers’ attention, the majority of companies are adopting sustainable and eco-friendly materials. For instance, shrink sleeves are frequently made of polyethylene terephthalate (PET). PET is inexpensive and resistant to UV rays. It’s a great option for sustainability because it can be recycled with ease. It’s also quite adjustable. The recycled polyethylene terephthalate (rPET), which is 100 percent recycled, keeps plastic out of landfills and the ocean by recycling it back into the circulation system. Also, during the past few years, polylactic acid (PLA) has drawn a lot of interest due to its sustainable and the environmentally beneficial qualities. PLA is a renewable thermoplastic and a biodegradable material that is made from the sugar beets, starch of corn, or the sugar cane. This shift towards the sustainable materials opens up new avenues for innovation and differentiation in the competitive packaging market.
Buy Premium Global Insight: https://www.towardspackaging.com/price/5204
Get the latest insights on packaging industry segmentation with our Annual Membership – https://www.towardspackaging.com/get-an-annual-membership
If you have any questions, please feel free to contact us at sales@towardspackaging.com
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.
Browse our Brand-New Journal:
https://www.towardshealthcare.com
https://www.towardsautomotive.com
For Latest Update Follow Us: https://www.linkedin.com/company/towards-packaging/
Get Our Freshly Printed Chronicle: https://www.packagingwebwire.com/