The global stretch sleeve labels market is experiencing robust growth, with a projected valuation of US$ 5.6 billion in 2022 and a compelling Compound Annual Growth Rate (CAGR) of 7.1%, driving it to an estimated US$ 11.8 billion by 2032, according to Future Market Insights (FMI). This expansion is fueled by increasing demand, particularly in the top three countries, which are poised to capture 30-35% of the global market share in 2022. Stretch sleeve labels contribute significantly, constituting approximately 15% of the broader global labels market, valued at US$ 40 billion in 2022.
In 2021, the stretch sleeve labels market already achieved sales of US$ 5.6 billion, indicating a strong trajectory. FMI’s study forecasts that the market will double its current value by 2032, presenting substantial growth opportunities. Moreover, with the top five companies anticipated to hold 20-25% of the global market share in 2022, competition is poised to intensify as this dynamic industry continues to evolve.
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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
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.
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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
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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