Stretch Sleeve Labels Market Surges: Projected Valuation of US$ 11.8 Billion by 2032, Fueled by a 7.1% CAGR

The global stretch sleeve labels market is poised for substantial growth, with an estimated valuation of US$ 5.6 Billion in 2022, projected to surge at a CAGR of 7.1% and reach US$ 11.8 Billion by 2032. This expansion is driven by accelerating demand, particularly in the top 3 countries, which are anticipated to grasp 30-35% of the market share in 2022.

Notably comprising 15% of the overall labels market valued at US$ 40 Billion in 2022, stretch sleeve labels exhibit a promising trajectory. The market's potential is underscored by projections of a 2.0x increase in value by 2032, with the leading 5 companies expected to hold 20-25% market share in 2022.

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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

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About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.

This release was published on openPR.