Expandable and Shrink Sleeve Labels Market Worth $ 18.9 Billion By 2026
CHICAGO, 25 November 2021 / PRNewswire / – According to New Market Research Report “Stretch and Shrink Sleeve Labels Market with Covid-19 impact analysis, by polymer film (PVC, PETG, OPS, PE), sleeve type (shrink and stretch), ink, printing technology, embellishment type, application and region – Global forecast to ‘in 2026 “, published by MarketsandMarkets ™, the global market size for stretch and shrink sleeve labels is expected to grow by $ 14.4 billion in 2021 to $ 18.9 billion by 2026, to a CAGR of 5.6%. The growth in the stretch and shrink sleeve labels market can mainly be attributed to increasing population, developing economies and GDP, increased awareness and growing demand for tamper evident labels. There is continued demand from the food and beverage industry. These are the key factors driving the demand for stretch and shrink sleeve labels during the forecast period.
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PVC is the largest polymer film segment in the stretch and shrink sleeve label market
On the basis of polymer film, the stretch and shrink sleeve labels market is segmented into PVC, PETG, OPS, PE and others. The PVC polymer films segment held the largest market share. PVC polymers are the most economical films, and they shrink up to 60% to 65%. PVC films have better dimensional stability and therefore easily adapt to containers of different sizes. Additionally, PVC films require low heat to shrink labels. PVC shrink labels are also of great concern to PET recyclers around the world. Labels have a higher density than water and therefore leak during recycling processes with PET bottles. This contaminates the PET, reducing the bale yield of PET recycling from the bottles. Pre-wash label removers can be used to solve this problem, but this adds additional cost to recyclers and, therefore, is not very popular.
Shrink sleeve labels are the largest sleeve-type segment of the stretch sleeve and shrink sleeve label market
The expandable sleeve and shrink sleeve labels market is segmented on the basis of sleeve type into expandable sleeve labels and shrink sleeve labels. The shrink sleeve label segment has dominated the market in terms of value and volume. Shrink sleeve labels are printed on flexible shrink film that is reduced in size by the application of heat. Once the film shrinks, it conforms tightly to the shape of the final product. Shrink sleeves are widely used because they offer 360 ° printing possibilities, tamper evident characteristics and conform to any complex shape of the final product. In addition, it offers more space for information. Shrink sleeves are also used for sealing. Shrink Sleeve Labels are segmented into full body packages, neck sleeves and combination packages.
The other beverages segment is the largest application segment of the stretch sleeve and shrink sleeve label market
The stretch sleeve and shrink sleeve labels market is segmented on the basis of application in food, wine and spirits, other beverages, beauty and personal care, healthcare and others. The other drinks segment dominated the market in terms of value and volume. Stretch and Shrink Sleeve Labels are used as a marketing tool in water bottles, soft drinks, pallets, abrasives, cast steel, empty bottle packaging and boxes with sharp corners. The other beverage application is a major user of stretch and shrink sleeve labels. They are used as a secondary packaging for many modern beverage products, such as carbonated soft drinks. Expandable and shrink sleeve labels are commonly used in other beverage packaging because they easily conform to unique object shapes and provide 360 ° coverage for maximum branding opportunities. It is widely used in specialty drinks, juices and flavored drinks, dairy products and flavored waters, and energy drinks.
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APAC is the largest market for the stretch sleeve and shrink sleeve label market
APAC region is expected to be the largest market and is also expected to be the region with the highest CAGR during the forecast period. Countries like China, India and Japan primarily contribute to the expandable sleeve and shrink sleeve label market. The use of stretch and shrink sleeve labels in the region has increased due to cost effectiveness, easy availability of raw materials, and demand for product labeling from highly populated countries such as India and China. The increasing scope of stretch and shrink sleeve label applications in the region’s food and beverage, health, beauty and personal care industries is expected to drive the region’s market. The growing population in these countries presents a huge customer base for FMCG products and food and beverages. Industrialization, growing middle class population, increasing disposable income, changing lifestyles and increasing consumption of packaged products are expected to drive demand for stretch and shrink sleeve labels during the period forecast.
The major companies presented in this Stretch and Shrink Sleeve Labels Market report include Berry Global Inc. (US), CCL Industries Inc. (Canada), Huhtamaki Oyj (Finland), Klöckner Pentaplast (England) and Fuji Seal International (Japan). They are key players in the stretch sleeve and shrink sleeve label market.
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