Sleeve Labels Market Segmented By Shrink Sleeve Labels Market, Stretch Sleeve Labels, Sleeve Label Packaging, Shrink Sleeve Technology
Industry: Consumer Goods
Published Date: December-2022
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 300
Report ID: PMRREP9854
According to Persistence Market Research, the sleeve labels market generated a revenue of US$ 15.29 Bn in 2022. The demand for sleeve labels will accelerate, with the top market players holding a prominent share of the market in 2022. The global market for sleeve labels is expected to reach US$ 24.66 Bn by 2033, growing at a ~4.4% CAGR from 2023 to 2033.
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Attribute |
Details |
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Global Sleeve Labels Market Size (2022A) |
US$ 15.29 Bn |
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Global Sleeve Labels Market Size (2023E) |
US$ 16.7 Bn |
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Projected Sleeve Labels Market Value (2033F) |
US$ 24.66 Bn |
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Value CAGR (2023-2033) |
~ 4.4% |
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Collective Value Share: Top 3 Countries (2022) |
~30% |
The global sleeve labels market is driven by changes in rules & regulations regarding labeling information. Manufacturers of sleeve labels help brands include as much content and important information on the labels as they can. The information could be anything ranging from details regarding the product content, as well as other branding information printed as a part of the brand’s consumer engagement strategy. Therefore, sleeve labels act as a marketing tool for a brand, and is the first point of contact for the consumer with that specific brand.
Manufacturers from many industries such as food, beverages, and pharmaceuticals, among others, are concerned about delivering authentic product content to consumers, and often use sleeve labels as a medium for tampering and counterfeit protection solutions. All these added benefits have bolstered demand for sleeve labels in the past couple of years.
Many more unique growth factors have been analyzed in detail, while a comprehensive assessment of some of the key challenges for sleeve labels have also been discussed in the report by Persistence Market Research.
The report also has a detailed regional analysis, which points toward Europe holding a majority share in this moderately competitive sleeve labels market space. A detailed COVID-19 impact has also been included in the report, so as to aid readers in taking well-informed business decisions for the present and future.
Between 2017 and 2022, demand for sleeve labels recorded a 4.4% rise. Traditionally, sleeve labels were used only as a medium for displaying regulatory and marketing content. With advancements in technology such as RFID chips and QR codes, sleeve labels are used for more sophisticated applications like tracking, tracing, anti-tampering solutions.
Increasing demand from end-use industry manufacturers across the globe and consistent efforts of players in the industry to increase their market share by offering customized and innovative product solutions are proving to be the backbone for the growth of the market.
New players entering the beverage industry offering alcoholic and non-alcoholic beverages have seen an upward trend in the past decade. These players, in an attempt to create a lucrative brand image and product differentiation, often launch their products in customized bottles in terms of shape, texture, color, etc.
Sleeve labels are choice labelling solutions for these manufacturers as they can fit on any shape perfectly and offer a 360-degree printing surface. These labels facilitate manufacturers with the freedom to customize the bottle shape in many aspects without worrying about keeping the label intact.
Increasing number of players entering the beverage industry are projected to create major opportunity for the growth of sleeve label suppliers. Manufacturers have the opportunity to capture maximum market share by offering maximum customization targeted toward new players entering end-use industries.
Stretch sleeves and shrink sleeves are the two products offered in market. These products have their own benefits in many aspects, but also possess some limitations that might prove to be a restraint.
Shrink sleeve labels that cover a major market share are widely used in the labelling of different products, but most utilized for PET bottles in the beverage industry. These shrink sleeve labels are generally made from heavier films that hinder the recycling process of PET bottles and often decrease the quality of recycled material. This is turning out to be a roadblock for shrink sleeve labels in developed regions such as Europe where recycling guidelines are stringent.
Stretch sleeve labels are used in the packaging of products that require certain flexibility or are anticipated to expand or contract during their lifecycle. These labels offer tamper evidence solutions to a certain extent, but have a limitation; they cannot offer over-the-cap tamper evidence solutions.
Over-the-cap tamper evidence is desired by end-use manufacturers as it is a convenient and efficient solution. This factor might restrain demand for stretch sleeve labels as it is of utmost importance for industries to ensure the product reaching customers is of the same quality as when it was manufactured.
Adoption of digital printing for the labelling process is a trend that is catching the attention of many manufacturers. Digital printers are available in a variety of capacities, printing technologies, and competitive pricing in the market, making them favorable for big as well as small players.
As opposed to traditional label printers, digital printers can be used to manufacture small batches and labelling content can be easily customized as per requirements, which is very advantageous to small players in the industry, both, newly entering and existing. The benefit of eliminating prepress steps involved in traditional printers, such as making plates with label content, helps in saving a lot of time for manufacturers.
Further, advanced features such as the availability of UV ink help keep label print quality unharmed under exposure to different temperature and light conditions. As a result of several benefits of digital printing, many label makers and end-use industry players are preferring digitally printed labels for their products, as they are comparatively economical, efficient, and help in attracting maximum customers.
How is the Growing Cosmetics Industry in Germany Uplifting Sales of Sleeve Labels?
Germany currently is the largest market share for sleeve labels in Europe, with a market share of over ~15.2% in 2022. The cosmetics industry in Europe has consistently grown in the past 10 years, and increasing consumer preference for high-end cosmetic brands and growing consciousness about appearance among the millennial populations are few reasons that are boosting the market in the region.
As stated by Cosmetics Europe, the personal care association in the national market for cosmetics and personal care products, Germany was the largest in Europe valuing US$ 17 Bn of the total European market in 2020. Extensive applications of sleeve labels in personal care and cosmetics industries and also significant presence of sleeve label manufacturers across Germany are propelling market growth in the country to a great extent.
What Makes India a Lucrative Market for Sleeve Labels?
South Asia is estimated to be the fastest-growing region in the sleeve labels space. In terms of value, the region is projected to expand at a CAGR of ~7.2% during the forecast period.
Major market share of the region is covered by India at ~36.5%. The constantly evolving food and beverage industry is a major factor supporting the growth of the target market in the region. Further, consistent addition of new players offering organic and healthy food and beverages is bolstering demand for sleeve labels in the country.
What Makes the U.S. a Promising Market for Sleeves Labels in North America?
North America has been one of the promising market for sleeves label industry in global market. In North America, U.S. has been a dominant region for sleeves label products with a share of ~76.5%. In the beverage business, shrink sleeve labels are routinely used to label bottles of various sizes and shapes.
Further, in the U.S. market growing population along with increase in buying power among the millennials has led to the growth towards much healthier lifestyle that contributes to the massive demand for non-carbohydrate drinks such as flavor water, coconut water, juices, etc.
Which Product Type is dominating the Market for Sleeve Labels?
Shrink sleeve labels cover a major pie in the global market, holding ~80.9% market share. Shrink sleeve labels are offered by most number of players.
Extensive demand enjoyed by shrink sleeve labels is a result of several benefits that they offer to end users. The target product is fairly easy in application and is widely available. The technology used is also fairly common and economical as compared to stretch sleeve labels
Which End Use is the Fastest Growing Segment in Sleeve Labels Market?
The beverages segment covers over ~39% market share as far as end use is concerned, and is anticipated to register a CAGR of ~7.2% during the forecast period.
Sleeve labels are most widely used for beverage packaging. Beverages is one of the fastest-growing end-use segments in the market. Both, alcoholic and non-alcoholic beverages are consistently growing with frequent addition of new players in the industry and product launches done by existing players.
Why are Polyethylene (PE) Sleeve Labels Experiencing Escalating Demand?
Under material, consumption of polyethylene (PE) sleeve labels are gaining pace. The material is fairly easy in procuring and the labels made from this material also do not hinder the recycling process of the containers they are wrapped around.
LDPE is most commonly used in stretch sleeve products for its high elasticity. On the back of these factors, consumption of polyethylene (PE) material is anticipated to expand at a CAGR of ~6.3% over the forecast period.
Majority of companies discussed in the report have focused on product launches and expanding their manufacturing units in developing regions. Strategies include innovation, collaborations with key players, partnerships, strategic alliances, and strengthening of regional and global distribution networks.
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Forecast Period |
2023-2033 |
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Historical Data Available for |
2017-2022 |
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Market Analysis |
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Key Segments Covered |
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Key Companies Profiled |
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Customization & Pricing |
Available upon Request |
Product Type
Material
Printing Technology
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The global sleeve labels market is valued at US$ 15,291.8 Mn as of 2022.
Sleeve Labels are projected to increase at 4.4% CAGR and is expected to be valued at around US$ 24,668.9 Mn by 2033 end.
Fuji Seal International, Inc Avery Dennison Corporation, CCL Industries Inc., Multi-Color Corporation, and Fort Dearborn Company among others.
Germany, China, U.S., India, and Japan are driving most of the demand for sleeve labels.
China, U.S., and Germany, Indian are major producers and exporters of sleeve labels.
Product innovation has recently been the main driver of consumer demand for goods; as a result, businesses are investing in R&D, increasing their growth potential. The increased demand for new product varieties brought on by online shopping is encouraging companies to invest in the category's technological developments.
