Shrink and Stretch Sleeve Labels Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Shrink and Stretch Sleeve Labels Market is Segmented by Type (Shrink, Stretch), Material (PVC, PET, PE, OPP & OPS, PO, PLA), End-user (Food, Soft Drinks, Alcoholic Drinks , Cosmetics & Household, Pharmaceutical), and Geography.

Shrink & Stretch Sleeve Labels Market Size

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shrink and stretch sleeve labels market
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 6.52 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Low

Major Players

shrink sleeve label manufacturers market

*Disclaimer: Major Players sorted in no particular order

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Shrink & Stretch Sleeve Labels Market Analysis

The shrink and stretch sleeve labels market was valued at USD 10.37 billion in 2020 and is expected to reach USD 15.55 billion by 2026, at a CAGR of 6.52% over the forecast period 2021 - 2026. In the last couple of decades, the labeling and packaging industry has experienced extensive product innovation. Sleeve label is one of those innovative products that has continually gained traction in the packaging landscape. Sleeve labels are colorful wraparounds around containers creating a greater aesthetic appeal.

  • These are basically of two types - Shrink Sleeve Labels and Stretch Sleeve Labels. Shrink Sleeve Labels Market are extremely popular in the market and has been readily accepted by the packaging industry. Shrink Sleeve Labels Market easily adapt to the shape of the container giving it higher product visibility and consumer appeal.
  • Stretch sleeve labeling is ready-to-use and can easily conform to containers of different shapes. In addition to the characteristics of providing a greater aesthetic appeal, it is eco-friendly. Stretch labels come with zero adhesiveness or heat and rely only on their elasticity to hold the container's shape. As compared to the standard shrink sleeve technology, stretch Sleeve Labels are more cost-effective, and this is expected to positively impact its demand in the future.
  • The downside to stretch sleeve labeling is that the application rate is much slower than shrink sleeve labeling, typically less than 150 containers per minute. Shrink sleeve labels are an ideal fit for container package labeling, where the product is generally packed at higher throughput rates of up to 800 containers per minute.
  • Manufacturers in the process of prioritizing consumer expectations and constructing better end-user engagement focus on the advanced labeling of their products to maintain a competitive advantage. For instance, recently, Overnight Labels. Inc., a well-known label manufacturing company, introduced a range of craft beer labels comprising of shrink sleeves offering enhanced substrates, varnish, and graphics.
  • Due to the outbreak of COVID-19, the supply chain is disrupted in packaging and labeling industry and has impacted the demand and supply of the products. However, governments across the globe have deemed food-related businesses essential, owing to which the demand for shrink and stretch sleeve labels market is expected to be steady during the period.

Shrink & Stretch Sleeve Labels Market Trends

This section covers the major market trends shaping the Shrink & Stretch Sleeve Labels Market according to our research experts:

Demand to Increase On-Shelf Appeal of Various Products is Expected to Drive Growth

  • Sleeve labels have the advantage over conventional label types in making a product stand out to consumers. Stretch and shrink sleeve labels have enhanced the versatility of conveying brand and safety messaging for packaging designers and brand owners. A sleeve label is applied to a package in multiple ways, from covering just the shoulders or the cap of a container to full-body, 360-degree coverage.
  • Extra coverage provided by full-body shrink sleeves ensures space for colorful and eye-catching designs. Full-body sleeves equip product and brand owners with more space to communicate with both current and prospective customers. With tight labeling regulations for both food and pharmaceutical products in place or on the way, having extra space to conform to regulatory standards while maintaining a product’s ability to reach out to consumers is expected to heighten the importance of sleeve labels.
  • Further, Shrink Sleeves provide better flexibility to manufacturers to use their shape to enhance marketing appeal. For instance, a twisted shape bottle may be named ‘Twister,’ or orange can be molded in the neck for orange juice. All this can be done while shrink sleeves allow the flexibility for the graphics to enhance bottle design for whatever the purpose the brand is trying to accomplish.
  • They allow product-makers to utilize a single colorless container and differentiate products and lines with their labels. The movement to single-serve, smaller doses, and smaller containers is expected to drive the use of shrink sleeve as convenient as a way to get more content across smaller surface areas.
shrink sleeve labels market

Asia Pacific is Expected to be the Fastest Growing Market

  • The Asia-Pacific region has emerged as a significant shrink sleeve & stretch sleeve labels market, primarily driven by India and China's emerging economies. The major driving forces in the Asia-Pacific region include rising urbanized populations, increasing demand for packaged food, easy availability of polymer films, and relatively low labor cast.
  • A price-sensitive market like South-East Asia is expected to be a major growth area for the use of shrink and stretch sleeves that are cost-effective solutions for decorating containers with highly complex shapes. Moreover, the easy availability of polymer films and low labor cost is further boosting the market growth.
  • In the Asia Pacific region, China and India mainly dominate the market. Across the region, the outbreak of COVID-19 has impacted differently in every country. The manufacturing and production of packaging and labeling industries are only functional in selected countries, where packaging contributes to GDP significantly.​
  • Further, the region's three major trade associations such as the Federation of Indian Chambers of Commerce and Industry (FICCI), All India Foods Processors' Association, and the US India Strategic Partnership Forum (USISPF, along with big beverage manufacturing companies such as PepsiCo, Coca-Cola, Nestle, and Mondelez, among others have submitted letters to the government requesting for the Food and Beverage manufacturing sector to be deemed as an 'essential service' and thus exempted from restrictions under the lockdown in order to continue production.
shrink sleeve labels market trends

Shrink & Stretch Sleeve Labels Industry Overview

The Competitive Landscape for the Shrink and Stretch Sleeve Labels Market is highly fragmented with several small and medium-sized players across geographies. The heightened need for customization leads to the proliferation of smaller players that cater to the customization needs of a handful of consumers. Some of the recent developments in the market are as follows: -

  • July 2020 - CCL Label introduced EcoFloat TD shrink sleeve material engineered to improve the float separation process for PET bottle recycling. The new technology has been approved by the European PET Bottle Platform (EPBP). EcoFloat has been developed to enable the packaging industry to meet recycling targets and to support sustainability.
  • February 2020 - Far Eastern New Century's (FENC) Top Green heat-shrink PET film for shrink sleeve labels was recognized by the Association of Plastic Recyclers for meeting or exceeding the requirements of its Critical Guidance Protocol for Clear PET Articles with Labels and Closures.
  • In April 2019 - Eastman launched two APR-approved recyclable shrink-sleeve label resins. Both Embrace Encore and Embrace Float have received the Critical Guidance recognition of APR. Both uses shrink labels that can be recycled easily.

Shrink & Stretch Sleeve Labels Market Leaders

  1. Berry Plastic Group Inc.

  2. Klockner Pentaplast Group

  3. Bemis Company​

  4. Taghleef Industries ​

  5. Amcor

*Disclaimer: Major Players sorted in no particular order

Exxon Mobil Corporation​, Eastman Chemicals ​,  Lyondell Basell​, The Dow Chemical Company,  Celanese Corporation​,  Indorama Group​, LG Chem Limited ​, Carmel Olefins Limited ​
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Shrink & Stretch Sleeve Labels Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Ability to Conform to Any Size and Shape, and Yet Provide the Necessary Protection

      2. 4.2.2 Need for Tamper-evident Protection Will Drive the Shrink Sleeves Market

    3. 4.3 Market Challenges

      1. 4.3.1 Growing Demand for Stand-up Pouches in the Beverage Sector and Elaborate Nature of the Overall Recycling Process

    4. 4.4 Market Opportunities

    5. 4.5 Industry Attractiveness - Porter's Five Force Analysis

      1. 4.5.1 Bargaining Power of Suppliers

      2. 4.5.2 Bargaining Power of Buyers/Consumers

      3. 4.5.3 Threat of New Entrants

      4. 4.5.4 Threat of Substitute Products

      5. 4.5.5 Intensity of Competitive Rivalry

    6. 4.6 Impact of COVID-19 on the Shrink & Stretch Sleeve Label Market

    7. 4.7 Analysis of the Key Trends in the Overall Labeling Industry (Share Comparison of Shrink & Sleeve Label)

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Shrink Sleeve

      2. 5.1.2 Stretch Sleeve

    2. 5.2 By Material

      1. 5.2.1 PVC

      2. 5.2.2 PET

      3. 5.2.3 PE

      4. 5.2.4 OPP & OPS

      5. 5.2.5 Other Materials (PO, PLA, etc.)

    3. 5.3 By End-user

      1. 5.3.1 Food

      2. 5.3.2 Soft Drinks

      3. 5.3.3 Alcoholic Drinks

      4. 5.3.4 Cosmetics & Household

      5. 5.3.5 Pharmaceutical

      6. 5.3.6 Others

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

      2. 5.4.2 Europe

        1. 5.4.2.1 United Kingdom

        2. 5.4.2.2 Germany

        3. 5.4.2.3 France

        4. 5.4.2.4 Eastern Europe

        5. 5.4.2.5 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 India

        3. 5.4.3.3 Japan

        4. 5.4.3.4 Rest of Asia-Pacific

      4. 5.4.4 Latin America

      5. 5.4.5 Middle-East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Bemis Company

      2. 6.1.2 Berry Plastic Group Inc.

      3. 6.1.3 Klockner Pentaplast Group

      4. 6.1.4 Amcor PLC

      5. 6.1.5 Clondalkin Group Holdings BV

      6. 6.1.6 Huhtamaki Oyj

      7. 6.1.7 Schur Flexibles

      8. 6.1.8 Cenveo Group

      9. 6.1.9 Taghleef Industries

    2. *List Not Exhaustive
  7. 7. KEY RESIN SUPPLIERS OF SHRINK & SLEEVE LABELS

    1. 7.1 Exxon Mobil Corporation

    2. 7.2 Eastman Chemicals

    3. 7.3 Lyondell Basell

    4. 7.4 The Dow Chemical Company

    5. 7.5 Celanese Corporation

    6. 7.6 Indorama Group

    7. 7.7 LG Chem Limited

    8. 7.8 Carmel Olefins Limited

    9. 7.9 Borealis Group

    10. 7.10 Nova Chemicals

    11. 7.11 SABIC Group

  8. 8. INVESTMENT ANALYSIS

  9. 9. MARKET OUTLOOK

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Shrink & Stretch Sleeve Labels Industry Segmentation

Stretch and shrink sleeve labels are polyester or plastic labels that wrap the entire perimeter of a product and conform to the unique geometry of any package. Stretch labels are made of LDPE and are highly elastic and hence can be pulled over the product container. Shrink sleeves are applied in loose form and conform to the product when exposed to heat by channeling the product through a heat tunnel.

By Type
Shrink Sleeve
Stretch Sleeve
By Material
PVC
PET
PE
OPP & OPS
Other Materials (PO, PLA, etc.)
By End-user
Food
Soft Drinks
Alcoholic Drinks
Cosmetics & Household
Pharmaceutical
Others
Geography
North America
United States
Canada
Europe
United Kingdom
Germany
France
Eastern Europe
Rest of Europe
Asia-Pacific
China
India
Japan
Rest of Asia-Pacific
Latin America
Middle-East & Africa
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Shrink & Stretch Sleeve Labels Market Research FAQs

The Shrink and Stretch Sleeve Labels Market is projected to register a CAGR of 6.52% during the forecast period (2024-2029)

Berry Plastic Group Inc., Klockner Pentaplast Group, Bemis Company​, Taghleef Industries ​ and Amcor are the major companies operating in the Shrink and Stretch Sleeve Labels Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia Pacific accounts for the largest market share in Shrink and Stretch Sleeve Labels Market.

The report covers the Shrink and Stretch Sleeve Labels Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Shrink and Stretch Sleeve Labels Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Shrink and Stretch Sleeve Labels Industry Report

Statistics for the 2024 Shrink and Stretch Sleeve Labels market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Shrink and Stretch Sleeve Labels analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Shrink and Stretch Sleeve Labels Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)