Shrink Sleeve Labels Market Research Report: Information by Product (Bottles, Cans, Jars, Tubes), by Material (PVC (Polyvinyl Chloride), PETG (Polyethylene Terephthalate Glycol), OPS (Oriented Polystyrene), PLA (Polylactic Acid), Recycled Materials, Others), by Printing Technology (Digital Printing, Rotogravure Printing, Flexographic Printing, Others), by Application Method (full body sleeves, partial sleeves, tamper-evident bands, others), by Application (Food & Beverage, Personal Care & Cosmetics, Pharmaceutical, Home Care & Cleaning Products, Pet Care Products, Automotive Products, Electronics & Appliances, Industrial Chemicals, Others (Agriculture, construction etc.)), By Functionality (Sustainable/Eco-Friendly, Smart (NFC, RFID), Security, Extended Content), By Sales Channel (Direct Sales, Indirect Sales) and by Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America) Industry Forecast Till 2032
In 2023, the shrink sleeve label market was estimated to be worth USD 14,051.5 million. According to projections, the global shrink sleeve labels market will expand at a compound annual growth rate (CAGR) of 4.92% from 2024 to 2032, from USD 14,529.8 million to USD 21,342.5 million.
The market for shrink sleeve labels is being driven by rising demand for packaged foods and drinks, opportunities brought about by the integration of new technologies, and an increasing emphasis on sustainable raw materials.
The market for packaged foods and beverages in North America has grown significantly in recent years, in part due to changing consumer preferences and lifestyle choices. This growth is also a result of consumers' adoption of a convenience-seeking mindset over the past ten years, which has seen them choose ready-to-eat meals, snacks, and beverages more frequently.
Perspectives on Market SegmentsThe global shrink sleeve labels are divided into four categories according on the product: bottles, cans, jars, and tubes. PVC (polyvinyl chloride), PETG (polyethylene terephthalate glycol), OPS (oriented polystyrene), PLA (polylactic acid), recycled materials, and others are the market's material-based divisions.
The global shrink sleeve label market is divided into four categories based on printing technology: digital, flexographic, rotogravure, and others. Global Shrink Sleeve Labels are divided into tamper-evident bands, complete body sleeves, partial sleeves, and other categories according on the application method.
Food & Beverage, Personal Care & Cosmetics, Pharmaceutical, Home Care & Cleaning Products, Pet Care Products, Automotive Products, Electronics & Appliances, Industrial Chemicals, and Others (construction, agriculture, etc.) are the market segments based on application.
The market is divided into four segments based on functionality: Extended Content, Smart (NFC, RFID), Sustainable/Eco-Friendly, and Security. The market is divided into two segments based on the sales channel: direct sales and indirect sales.
Regional PerspectivesThe market for shrink sleeve labels in Asia-Pacific held the most share in 2023 and is anticipated to increase at a substantial compound annual growth rate (CAGR) throughout the course of the study. a few important elements. Adoption of cutting-edge labeling technology is encouraged by the region's emphasis on creative package solutions and strict regulatory regulations. Shrink sleeves with improved graphics, tamper-evident features, and durability are becoming more and more in demand as sectors including food and beverage, pharmaceuticals, and personal care need higher-quality, long-lasting labels.
Furthermore, the market for shrink sleeve labels is second largest in Europe. a number of important elements. Adoption of cutting-edge labeling technology is encouraged by the region's emphasis on creative package solutions and strict regulatory regulations. Shrink sleeves with improved graphics, tamper-evident features, and durability are becoming more and more in demand as sectors including food and beverage, pharmaceuticals, and personal care need higher-quality, long-lasting labels.
Furthermore, the market for shrink sleeve labels in North America has expanded dramatically in recent years due to a number of important causes. Adoption of cutting-edge labeling technology is encouraged by the region's emphasis on creative package solutions and strict regulatory regulations. Shrink sleeves with improved graphics, tamper-evident features, and durability are becoming more and more in demand as sectors including food and beverage, pharmaceuticals, and personal care need higher-quality, long-lasting labels.
Key PlayersAmcor, Berry Global, Inc., Bonset America Corporation, CCL Industries Inc., Fort Dearborn Company, Fuji Seal Limited, Huhtamaki Global, Klockner Pentaplast, MacFarlane Group PLC, Sleeve Seal LLC, Westrock Company, Inovar Packaging Group, Resource Label Group, and Multi-Color Corporation are some of the most important companies in the shrink sleeve labels market.