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Rising Demand In Food And Beverage Industry Propels Growth Of Stretch Sleeve And Shrink Sleeve Label Markets: Strategic Insights
Stretch Sleeve & Shrink Sleeve Labels
How Large Will the Stretch Sleeve & Shrink Sleeve Labels Market Size By 2025?
The stretch sleeve & shrink sleeve labels market has recorded strong growth in recent years. It is projected to move from $15.53 billion in 2024 to $16.43 billion in 2025, at a CAGR of 5.8%.
How Big Is the Stretch Sleeve & Shrink Sleeve Labels Market Size Expected to Grow by 2029?
The market size of stretch sleeve and shrink sleeve labels is anticipated to experience significant growth in the upcoming years, reaching $21.29 billion by 2029 at a compound annual growth rate (CAGR) of 6.7%. The expected growth within the forecasted period can be linked to its increased utilization in the beverage industry, the surge in e-commerce packaging, emphasis on recyclability, the emergence of intelligent packaging, globalization, and standardization. Key trends within the forecasted period consist of the escalating demand for eco-friendly packaging, advancements in printing technologies, packaging solutions for e-commerce, integration of intelligent packaging, regulatory adherence, and labeling standards.
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Which Key Market Drivers Powering Stretch Sleeve & Shrink Sleeve Labels Market Expansion and Growth?
As the food and beverage sector's demand escalates, the stretch sleeve and shrink sleeve label markets are anticipated to flourish. The food and beverage sector comprises all companies engaged in processing, packaging, and distributing raw food. The extensive use of stretch sleeve labels and shrink sleeve labels in food and beverage industries for packaging and branding is because they are made of flexible materials that wrap tightly around containers, offering an all-around view. In October 2024, for example, the World Bank Group, a US-based international trade and development organization, predicted the worldwide population to hit 10 billion by 2050. Meeting this surge in demand will require a 60% increase in food production amidst the fast-rising challenges of climate change. Consequently, the food and beverage industry's mounting need is fueling the stretch sleeve and shrink sleeve label markets' expansion.
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Which Fast-Growing Trends Are Poised to Disrupt the Stretch Sleeve & Shrink Sleeve Labels Market?
In the stretch sleeve and shrink sleeve label sector, the emergence of product innovations is a notable trend. Entities in the stretch sleeve and shrink sleeve label industry are utilizing creative solutions to retain their market standing. For instance, January 2023 saw CCL Industries Inc., a Canadian company that produces the largest labels, unveiling a 30-micron thick stretch sleeve. This extremely thin stretch sleeve was engineered for ultimate durability, and at 30 microns, is considerably thinner than the 'regular' 45-micron sleeves. By using less raw material, the carbon footprint of the product is reduced.
What Are the Emerging Segments in the Stretch Sleeve & Shrink Sleeve Labels Market?
The stretch sleeve & shrink sleeve labels market covered in this report is segmented -
1) By Type: Shrink Sleeve, Stretch Sleeve
2) By Polymer Film: Poly Vinyl Chloride (PVC), Polyethylene terephthalate glyco (PETG), Oriented Polystyrene (OPS), Polyethylene (PE), Other Polymer Films
3) By Embellishing Type: Hot Foil, Cold Foil, Other Embellishing Type
4) By Printing Technology: Rotogravure, Flexography, Digital Printing, Other Printing Technology
5) By Application: Food, Soft Drinks, Alcoholic Drinks, Cosmetics And Household, Pharmaceutical, Other Applications
Subsegments:
1) By Shrink Sleeve: Printed Shrink Sleeves, Plain Shrink Sleeves, Multi-Pack Shrink Sleeves
2) By Stretch Sleeve: Printed Stretch Sleeves, Plain Stretch Sleeves, Multi-Pack Stretch Sleeves
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Who Are the Global Leaders in the Stretch Sleeve & Shrink Sleeve Labels Market?
Major companies operating in the stretch sleeve & shrink sleeve labels market include Berry Global Inc., CCL Industries Inc., Huhtamäki Oyj, Klöckner Pentaplast Group, Fuji Seal International Inc, Hammer Packaging Corp., Sleeveco Inc., Amcor PLC, Fort Dearborn Company, Clondalkin Group Holdings B.V., Taghleef Industries LLC, Bonset America Corporation, Edwards Label Inc., Polysack Flexible Packaging Ltd., Westrock Company, Sonoco Products Company, Albea Group, Pactiv LLC, Takween Advanced Industries Company, Al Jabri Plastic Factory, Avery Dennison Corporation, Comexi Group Industries S.L.U., Constantia Flexibles Group GmbH, Coveris Holdings S.A., Dow Inc., Inland Label & Marketing Services LLC, Innovia Films, IPL Plastics Inc., Label Impressions Inc., Labelcraft Products Ltd., Mondi Group, Resource Label Group LLC, UPM Raflatac, WS Packaging Group Inc.
Which are the Top Profitable Regional Markets for the Stretch Sleeve & Shrink Sleeve Labels Industry?
Asia-Pacific was the largest region in the stretch and shrink sleeve label market in 2024. The regions covered in the stretch sleeve & shrink sleeve labels market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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