Shrink Sleeve Labels Market Forecasts to 2028 – Global Analysis By Type (Shrink Sleeve Can Labels, Full Body Shrink Sleeve Labels, Tamper Evident Shrink Sleeve Labels and Combo Pack Shrink Sleeve Labels), Polymer Films (Expanded Polystyrene Films, Polyvinyl Chloride Films and other Polymer Films), Printing Technology (Digital printing, Gravure and Flexography), Ink (Water-based, Ultraviolet (UV) and Solvent-based), Embellishing Type, Application and Geography
According to Stratistics MRC, the Global Shrink Sleeve Labels Market is accounted for $12.20 billion in 2022 and is expected to reach $19.91 billion by 2028 growing at a CAGR of 8.5% during the forecast period. Shrink sleeve labels are the most convenient and ideal labels for products exposed to severe moisture and friction. It is in full colour, has abrasion and moisture resistance, and has 360-degree printed labels that utilize heat in the application process to conform the label to the shape of the container. The labels are typically printed on plastic or polyester material and are commonly used on aluminium cans, glass, or plastic bottles. Shrink sleeve labels offer numerous opportunities to innovate the packaging of the product.
According to the packaging gateway, India is anticipated to reach US$ 73.6 billion by the 2020 financial year (FY2020), due to the India’s growing population and income levels.
Market Dynamics:
Driver:
Anti-counterfeiting and tamper-evident properties
The most important component of shrink sleeve labels is their tamper-evident nature. The tamper-evident shrink sleeve labels serve as safety seals, with statements such as ""if the safety seal is broken, do not use"" and ""only for adults."" Or ""throw the product away."" Because the end result is highly sensitive, the obvious products are commonly employed in the pharmaceutical and food & beverage sectors. This prevents mistakes like adulteration or reusing containers that should be thrown.
Restraint:
Stand-up pouches replacing bottles
The obstacle generated by the recent expansion of stand-up pouches has increased, hence impeding the growth of the Shrink Sleeve Labels Market. Owing stand-up pouches are inexpensive, lightweight to carry, user-friendly, and environmentally safe. As a result, these stand-up pouches are preferred over shrink sleeves. Because of the rise of the stand-up pouch business, the shrink sleeve market has been constrained.
Opportunity:
Reducing overall labelling cost
A simple price comparison between traditional pressure-sensitive and shrink-sleeve labels proves crucial. Although traditional pressure-sensitive labels are less expensive, they require two labels to cover both the front and back of a package/container/bottle. However, when it comes to shrink-sleeve labels, only one label is necessary to cover the entire container. Furthermore, traditional labels cover only 40% of the overall body of the product, but shrink-sleeve labels cover 100% and allow for 360-degree printing.
Threat:
Intricate recycling process
The recycling of sleeves has been the market's most difficult task in recent years. Though sleeve products are recyclable, the process is more expensive than production, so manufacturing businesses are focusing on lowering the cost of recycling by creating technologies. As the need for the use of sleeved products has expanded, manufacturing businesses have improved the recycling process.
Covid-19 Impact
The COVID-19 epidemic has caused severe disruptions in numerous businesses by disrupting shipping and hurting raw material supplies. The pandemic's global expansion had a detrimental influence on several industries, including the food and beverage industries, as well as the electronic and construction industries. Now that the pandemic appears to be ended, the shrink sleeve labels market is likely to see significant growth in the following years due to high population expansion and disposable income.
The full-body shrink sleeve labels segment is expected to be the largest during the forecast period
The full-body shrink sleeve labels segment is estimated to have a lucrative growth, due to the extra coverage provided by full-body shrink sleeves ensures space for colourful and eye-catching designs. Full-body sleeves provide product and brand owners additional room to connect with existing and potential customers. With tight labelling requirements in place or on the way for both food and pharmaceutical items, having extra space to meet to regulatory standards while keeping a product's capacity to reach out to consumers is predicted to increase the importance of sleeve labels.
The Polyvinyl Chloride Films segment is expected to have the highest CAGR during the forecast period
The Polyvinyl Chloride Films segment is anticipated to witness the fastest CAGR growth during the forecast period, as they are the most cost-effective films and they shrink up to 60% to 65%. Because polyvinyl chloride films have higher dimensional stability, they conform easily to containers of varying sizes. Furthermore, PVC sheets require low heat while shrinking labels. PVC shrink labels are also a major source of worry for PET recyclers all around the world. Because the labels have a higher density than water, they sink during the recycling of PET bottles.
Region with highest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to the growing demand for packaged food, easy availability of polymer films and swift industrialization in emerging economies in this region. South-East Asia, a price-sensitive market, is likely to be a significant growth area for the usage of shrink and stretch sleeves, which are cost-effective alternatives for adorning containers with highly complicated designs.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period, owing to the shifting plans of manufacturers in this region. Shrink sleeve labels are commonly used in the beverage industry to mark bottles of various sizes and shapes. Furthermore, in the United States, the expanding population, combined with an increase in purchasing power among millennials, has resulted in a shift toward a much healthier lifestyle, which leads to a tremendous demand for non-carbohydrate drinks such as flavoured water, coconut water, juices, and so on.
Key players in the market
Some of the key players profiled in the Shrink Sleeve Labels Market include Taghleef industries, Bemis company, Cenveo group, Clondalkin group holdings, Amcor PLC, Berry plastic group, Schur flexible, Klockner pentaplast group, Fuji Seal International, Inc., CCL Industries, Dow Chemicals, Macfarlane Group PLC and Huhtamaki Oyj.
Key Developments:
In May 2021, CCL Industries Inc. developed privately held Lux Global Label Asia Pte. Ltd. (“LUX”), based in Singapore.
In December 2020, the Fuji Seal International company announced a new building in North Carolina to increase business opportunities.
In July 2020, CCL introduced a folding carton paper board that can be recycled after usage.
In July 2019, Berry Global Group settled RPC Group. This procurement helped to create a leading global supplier of value-added protective solutions and one of the world’s largest plastic packaging companies.
Types Covered:
• Shrink Sleeve Can Labels
• Full Body Shrink Sleeve Labels
• Tamper Evident Shrink Sleeve Labels
• Combo Pack Shrink Sleeve Labels
Polymer Films Covered:
• Expanded Polystyrene Films
• Polyvinyl Chloride Films
• Polylactic Acid Films
• Polypropylene Terephthalate Glycol Films
• Polyethylene Films
Printing Technologies Covered:
• Digital printing
• Gravure
• Flexography
Inks Covered:
• Water-based
• Ultraviolet (UV)
• Solvent-based
Embellishing Types Covered:
• Water-based
• Ultraviolet (UV)
• Solvent-based
Applications Covered:
• Pharmaceuticals
• Personal Care
• Food and Beverages
• Other Applications
Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
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