Sleeve Labels Market 2017–2027
Sleeve labels are widely used on almost all types of fast-moving consumer goods and can be classified into shrink sleeve labels and stretch sleeves labels. Shrink label is made up of plastic and polymer products whereas are a full-body label that offers 360 coverage. Shrink sleeves labels are highly durable and ideal for food &beverage and pharmaceutical packaging products. Among these two, shrink label is an ideal one and gaining huge traction because this label offers numerous opportunities to innovate the packaging of the product. Moreover, the sleeve label uses flexographic and gravure printing technology and is becoming the go-to choice.
The global sleeve labels market is projected to reach around US$ 18.6 billion by the end of 2027, in terms of revenue, growing at CAGR of 5.4% during the forecast period (2019-2027).
Drivers
Rising demand for extended shelf-life of the product is expected to fuel the market growth of the sleeve label. Most sleeve labels are based on advanced security features such as UV protection that are claimed to increase the shelf life of products. Moreover, these labels are also equipped with tracking systems such as RFID chips and QR codes in some cases. Hence, growing demand for extending shelf-life of the product will favor the market growth of the sleeve label.
Increasing strict rules and regulation to counter tampering and counterfeiting in food &beverage industry is expected to augment the market growth. Growing cases of tampered and counterfeit products have raised enforcement of stringent regulations in order to reduce such cases. Because of this, major companies are opting for sleeves labels over pressure-sensitive tapes and in-mold since the sleeve label over tamper-evident packaging, this, in turn, is propelling the market growth.
On basis of the region, the Asia Pacific region dominated the global sleeve labels market in 2018, accounting for 40% share in terms of volume, followed by Europe and North America, respectively.
Figure 1. Global Sleeve Labels Market, Revenue Share (%), By Region, 2018
Market Restraints
Increasing implementation of stringent environmental regulations is expected to hinder the market growth of the sleeve label. Mostly sleeve labels are produced from High-density polyethylene (HDPE) and Poly Vinyl Chloride (PVC) materials that are hazardous to the environment and for this EU regulation and FDA regulations are restricting the use of harmful chemical substances such as PVC. This factor is expected to restrict market growth of sleeve labels over the forecast period.
Cost of the shrinking label is relatively high and this factor is expected to hinder the market growth of sleeve label over the forecast period. Moreover, the stretch label cannot offer over-the-cap tamper evidence and this factor is restricting the use of the stretch label. Hence, both the types of sleeve labels have certain limitation and this is expected to hinder the market growth.
Market Opportunities
Expanding packaging industry especially in Asia Pacific region is expected to offer potential growth opportunity to the market of sleeve label. According to the packaging gateway, India is anticipated to reach US$ 73.6 billion by the 2020 financial year (FY2020), due to the India’s growing population and income levels. Therefore, the growing packaging sector will favor the market growth of the sleeve label over the forecast timeframe.
The growing pharmaceutical market is expected to fuel the market growth of the sleeve label and sleeve label are widely used in the packaging of pharmaceutical products in order to encounter counterfeit products. According to the India Brand Equity Foundation, the pharmaceutical sector in India was valued at US$ 33 billion in 2017. India’s domestic pharmaceutical market turnover reached Rs 1, 29,015 crore (US$ 18.12 billion) in 2018, growing 9.4 per cent year-on-year (in Rs) from Rs 1, 16,389 crore (US$ 17.87 billion) in 2017.
Figure 2. Global Sleeve Labels Market– Opportunity Analysis
Market Trends
The growing trend of digital printing around the globe and sleeve label and most of the sleeve label manufacturers are focusing on offering highly attractive and customizable products that are expected to propel the market growth. According to the report by Smithers Pira, in 2017, digital printing accounts for 16.2% of the global print market value and 2.9% of the volume. Therefore, growing digital printing is expected to foster market growth.
Rising trend of super stretch sleeves label market which was first launched by CCL Industries Inc., is expected to augment the market growth of sleeve labels. Super stretch sleeves label can be applied to any size and shape of the container without any heat or adhesives. According to the Coherent Market Insight, the Shrink label accounted for over 60% of the overall sleeve label market in 2015. As compared to shrink labels, stretch labels provide high elasticity and are comparatively low priced. Moreover, it is projected to gain traction across the food & beverage industry.
Figure 3. Global Sleeve Labels Market, Revenue Share (%), By Material Type, in 2018
On the basis of material type, in 2018, polyethylene terephthalate (PET – G) segment has accounted the largest market share of 37.2% in terms of value, followed by polyvinyl chloride (PVC) and oriented polystyrene shrink (OPS) respectively.
Figure 4. Global Sleeve Labels Market – Value Chain Analysis
Competitive Section:
Key players operating in global sleeve labels market are Fuji Seal International, Inc., CCL Industries, Dow Chemicals, Berry Plastics Group, Inc., Klöckner Pentaplast, Macfarlane Group PLC, and Huhtamaki Oyj.
Sleeve labels are mostly used in the labeling of packaged food & beverages, personal care, home care and pharmaceutical packaging. Sleeve labels are of two types, stretch labels and shrink labels. Shrink label is made up of plastic and polymer products. Stretch sleeve labels are elastic and hold firmly the container without the use of any external heat or adhesives.
Market Dynamics
The global sleeve labels market has witnessed significant growth in recent past years, owing to the rising demand for sleeve labels from end-use industries such as packaging, pharmaceutical, personal care, and food & beverages. Based on product type, the global sleeve labels market is bifurcated in shrink sleeve labels and stretch sleeve label. Among these segments, the shrink sleeve labels segment dominated the global sleeve labels market in 2018, owing to the increasing use of shrink sleeve labels in growing fast moving consumer goods (FMCG) packaging sector. For instance, according to India Brand Equity Foundation (IBEF), in December 2019, the revenues of FMCG sector has reached US$ 52.75 billion in 2018, and it is estimated to reach US$ 103.7 billion in 2020.
Moreover, the growing packaging industry is another major factor that is projected to propel the market growth of sleeve labels, owing to the wide use of sleeve labels in the packaging of various applications such as food & beverages, medicines, aesthetic products, and home care. According to a report released by flexible packaging association, the U.S. flexible packaging industry was US$ 31.8 billion in sales in 2018. These factors are estimated to drive growth of the global sleeve labels market in the coming years.
Furthermore, Asia Pacific region dominated the global sleeve labels market in 2018, owing to the increasing number of metal mining and metal processing industries and investments in the construction industry in this region. For instance, according to the National Bureau of statistics of China, in August 2019, the retail sales of consumer goods has reached US$ 481.6 million, which is growing up by 7.5% per annum. As a result, this scenario is estimated to foster the growth of the global sleeve labels market in the forecast timeframe.
Key features of the study:
- This report provides in-depth analysis of the global sleeve labels market, market size (US$ Billion and Million Meter Square), and Cumulative Annual Growth Rate (CAGR %) for the forecast period (2019–2027).
- It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market. It provides valuable insights about market drivers, restraints, opportunities, new product launches or approval, sleeve labels products, regional outlook, and competitive strategy adopted by the leading players.
- Key companies covered as a part of this study includes Fuji Seal International, Inc., CCL Industries, Dow Chemicals, Berry Plastics Group, Inc., Klöckner Pentaplast, Macfarlane Group PLC, and Huhtamaki Oyj.
- It profiles leading players in the global sleeve labels market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, key developments, and future plans.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions with respect to their future product launch, market expansion, and marketing tactics.
- The global sleeve labels market report caters to various stakeholders in this industry, including investors, product developers, distributors, sleeve labels companies, research institutes, new entrants, and financial analysts.
- Stakeholders would greatly benefit in decision-making through the various strategy matrices used in analyzing the global sleeve labels market.
Market Taxonomy
- Global Sleeve Labels Market, By Product Type:
- Stretch Sleeve
- Shrink Sleeve
- Global Sleeve Labels Market, By End-use:
- Food & Beverage
- Health care
- Personal care
- Others
- Global Sleeve Labels Market, By Material Type:
- Oriented Polystyrene (OPS)
- Polyvinyl Chloride (PVC)
- Polyethylene terephthalate (PET-G)
- Polypropylene
- Others
- Global Sleeve Labels Market, By Printing Ink Type:
- Water-based
- UV
- Solvent-based
- Global Sleeve Labels Market, By Printing Technology Type:
- Gravure
- Digital
- Flexography
- Global Sleeve Labels Market, By Geography:
- North America
- U.S.
- By Product Type:
- Stretch Sleeve
- Shrink Sleeve
- By End-use:
- Food & Beverage
- Health care
- Personal care
- Others
- By Material Type:
- Oriented Polystyrene (OPS)
- Polyvinyl Chloride (PVC)
- Polyethylene terephthalate (PET-G)
- Polypropylene
- Others
- By Printing Ink Type:
- Water-based
- UV
- Solvent-based
- By Printing Technology Type:
- Gravure
- Digital
- Flexography
- Canada
- By Product Type:
- Stretch Sleeve
- Shrink Sleeve
- By End-use:
- Food & Beverage
- Health care
- Personal care
- Others
- By Material Type:
- Oriented Polystyrene (OPS)
- Polyvinyl Chloride (PVC)
- Polyethylene terephthalate (PET-G)
- Polypropylene
- Others
- By Printing Ink Type:
- Water-based
- UV
- Solvent-based
- By Printing Technology Type:
- Gravure
- Digital
- Flexography
- Europe
- U.K.
- By Product Type:
- Stretch Sleeve
- Shrink Sleeve
- By End-use:
- Food & Beverage
- Health care
- Personal care
- Others
- By Material Type:
- Oriented Polystyrene (OPS)
- Polyvinyl Chloride (PVC)
- Polyethylene terephthalate (PET-G)
- Polypropylene
- Others
- By Printing Ink Type:
- Water-based
- UV
- Solvent-based
- By Printing Technology Type:
- Gravure
- Digital
- Flexography
- Germany
- By Product Type:
- Stretch Sleeve
- Shrink Sleeve
- By End-use:
- Food & Beverage
- Health care
- Personal care
- Others
- By Material Type:
- Oriented Polystyrene (OPS)
- Polyvinyl Chloride (PVC)
- Polyethylene terephthalate (PET-G)
- Polypropylene
- Others
- By Printing Ink Type:
- Water-based
- UV
- Solvent-based
- By Printing Technology Type:
- Gravure
- Digital
- Flexography
- Italy
- By Product Type:
- Stretch Sleeve
- Shrink Sleeve
- By End-use:
- Food & Beverage
- Health care
- Personal care
- Others
- By Material Type:
- Oriented Polystyrene (OPS)
- Polyvinyl Chloride (PVC)
- Polyethylene terephthalate (PET-G)
- Polypropylene
- Others
- By Printing Ink Type:
- Water-based
- UV
- Solvent-based
- By Printing Technology Type:
- Gravure
- Digital
- Flexography
- France
- By Product Type:
- Stretch Sleeve
- Shrink Sleeve
- By End-use:
- Food & Beverage
- Health care
- Personal care
- Others
- By Material Type:
- Oriented Polystyrene (OPS)
- Polyvinyl Chloride (PVC)
- Polyethylene terephthalate (PET-G)
- Polypropylene
- Others
- By Printing Ink Type:
- Water-based
- UV
- Solvent-based
- By Printing Technology Type:
- Gravure
- Digital
- Flexography
- Spain
- By Product Type:
- Stretch Sleeve
- Shrink Sleeve
- By End-use:
- Food & Beverage
- Health care
- Personal care
- Others
- By Material Type:
- Oriented Polystyrene (OPS)
- Polyvinyl Chloride (PVC)
- Polyethylene terephthalate (PET-G)
- Polypropylene
- Others
- By Printing Ink Type:
- Water-based
- UV
- Solvent-based
- By Printing Technology Type:
- Gravure
- Digital
- Flexography
- Nordic
- By Product Type:
- Stretch Sleeve
- Shrink Sleeve
- By End-use:
- Food & Beverage
- Health care
- Personal care
- Others
- By Material Type:
- Oriented Polystyrene (OPS)
- Polyvinyl Chloride (PVC)
- Polyethylene terephthalate (PET-G)
- Polypropylene
- Others
- By Printing Ink Type:
- Water-based
- UV
- Solvent-based
- By Printing Technology Type:
- Gravure
- Digital
- Flexography
- Benelux
- By Product Type:
- Stretch Sleeve
- Shrink Sleeve
- By End-use:
- Food & Beverage
- Health care
- Personal care
- Others
- By Material Type:
- Oriented Polystyrene (OPS)
- Polyvinyl Chloride (PVC)
- Polyethylene terephthalate (PET-G)
- Polypropylene
- Others
- By Printing Ink Type:
- Water-based
- UV
- Solvent-based
- By Printing Technology Type:
- Gravure
- Digital
- Flexography
- Russia
- By Product Type:
- Stretch Sleeve
- Shrink Sleeve
- By End-use:
- Food & Beverage
- Health care
- Personal care
- Others
- By Material Type:
- Oriented Polystyrene (OPS)
- Polyvinyl Chloride (PVC)
- Polyethylene terephthalate (PET-G)
- Polypropylene
- Others
- By Printing Ink Type:
- Water-based
- UV
- Solvent-based
- By Printing Technology Type:
- Gravure
- Digital
- Flexography
- Poland
- By Product Type:
- Stretch Sleeve
- Shrink Sleeve
- By End-use:
- Food & Beverage
- Health care
- Personal care
- Others
- By Material Type:
- Oriented Polystyrene (OPS)
- Polyvinyl Chloride (PVC)
- Polyethylene terephthalate (PET-G)
- Polypropylene
- Others
- By Printing Ink Type:
- Water-based
- UV
- Solvent-based
- By Printing Technology Type:
- Gravure
- Digital
- Flexography
- Rest of Europe
- By Product Type:
- Stretch Sleeve
- Shrink Sleeve
- By End-use:
- Food & Beverage
- Health care
- Personal care
- Others
- By Material Type:
- Oriented Polystyrene (OPS)
- Polyvinyl Chloride (PVC)
- Polyethylene terephthalate (PET-G)
- Polypropylene
- Others
- By Printing Ink Type:
- Water-based
- UV
- Solvent-based
- By Printing Technology Type:
- Gravure
- Digital
- Flexography
- Asia Pacific
- China
- By Product Type:
- Stretch Sleeve
- Shrink Sleeve
- By End-use:
- Food & Beverage
- Health care
- Personal care
- Others
- By Material Type:
- Oriented Polystyrene (OPS)
- Polyvinyl Chloride (PVC)
- Polyethylene terephthalate (PET-G)
- Polypropylene
- Others
- By Printing Ink Type:
- Water-based
- UV
- Solvent-based
- By Printing Technology Type:
- Gravure
- Digital
- Flexography
- India
- By Product Type:
- Stretch Sleeve
- Shrink Sleeve
- By End-use:
- Food & Beverage
- Health care
- Personal care
- Others
- By Material Type:
- Oriented Polystyrene (OPS)
- Polyvinyl Chloride (PVC)
- Polyethylene terephthalate (PET-G)
- Polypropylene
- Others
- By Printing Ink Type:
- Water-based
- UV
- Solvent-based
- By Printing Technology Type:
- Gravure
- Digital
- Flexography
- Japan
- By Product Type:
- Stretch Sleeve
- Shrink Sleeve
- By End-use:
- Food & Beverage
- Health care
- Personal care
- Others
- By Material Type:
- Oriented Polystyrene (OPS)
- Polyvinyl Chloride (PVC)
- Polyethylene terephthalate (PET-G)
- Polypropylene
- Others
- By Printing Ink Type:
- Water-based
- UV
- Solvent-based
- By Printing Technology Type:
- Gravure
- Digital
- Flexography
- ASEAN
- By Product Type:
- Stretch Sleeve
- Shrink Sleeve
- By End-use:
- Food & Beverage
- Health care
- Personal care
- Others
- By Material Type:
- Oriented Polystyrene (OPS)
- Polyvinyl Chloride (PVC)
- Polyethylene terephthalate (PET-G)
- Polypropylene
- Others
- By Printing Ink Type:
- Water-based
- UV
- Solvent-based
- By Printing Technology Type:
- Gravure
- Digital
- Flexography
- South Korea
- By Product Type:
- Stretch Sleeve
- Shrink Sleeve
- By End-use:
- Food & Beverage
- Health care
- Personal care
- Others
- By Material Type:
- Oriented Polystyrene (OPS)
- Polyvinyl Chloride (PVC)
- Polyethylene terephthalate (PET-G)
- Polypropylene
- Others
- By Printing Ink Type:
- Water-based
- UV
- Solvent-based
- By Printing Technology Type:
- Gravure
- Digital
- Flexography
- Rest of Asia Pacific
- By Product Type:
- Stretch Sleeve
- Shrink Sleeve
- By End-use:
- Food & Beverage
- Health care
- Personal care
- Others
- By Material Type:
- Oriented Polystyrene (OPS)
- Polyvinyl Chloride (PVC)
- Polyethylene terephthalate (PET-G)
- Polypropylene
- Others
- By Printing Ink Type:
- Water-based
- UV
- Solvent-based
- By Printing Technology Type:
- Gravure
- Digital
- Flexography
- Latin America
- Brazil
- By Product Type:
- Stretch Sleeve
- Shrink Sleeve
- By End-use:
- Food & Beverage
- Health care
- Personal care
- Others
- By Material Type:
- Oriented Polystyrene (OPS)
- Polyvinyl Chloride (PVC)
- Polyethylene terephthalate (PET-G)
- Polypropylene
- Others
- By Printing Ink Type:
- Water-based
- UV
- Solvent-based
- By Printing Technology Type:
- Gravure
- Digital
- Flexography
- Mexico
- By Product Type:
- Stretch Sleeve
- Shrink Sleeve
- By End-use:
- Food & Beverage
- Health care
- Personal care
- Others
- By Material Type:
- Oriented Polystyrene (OPS)
- Polyvinyl Chloride (PVC)
- Polyethylene terephthalate (PET-G)
- Polypropylene
- Others
- By Printing Ink Type:
- Water-based
- UV
- Solvent-based
- By Printing Technology Type:
- Gravure
- Digital
- Flexography
- Rest of Latin America
- By Product Type:
- Stretch Sleeve
- Shrink Sleeve
- By End-use:
- Food & Beverage
- Health care
- Personal care
- Others
- By Material Type:
- Oriented Polystyrene (OPS)
- Polyvinyl Chloride (PVC)
- Polyethylene terephthalate (PET-G)
- Polypropylene
- Others
- By Printing Ink Type:
- Water-based
- UV
- Solvent-based
- By Printing Technology Type:
- Gravure
- Digital
- Flexography
- Middle East & Africa
- GCC
- By Product Type:
- Stretch Sleeve
- Shrink Sleeve
- By End-use:
- Food & Beverage
- Health care
- Personal care
- Others
- By Material Type:
- Oriented Polystyrene (OPS)
- Polyvinyl Chloride (PVC)
- Polyethylene terephthalate (PET-G)
- Polypropylene
- Others
- By Printing Ink Type:
- Water-based
- UV
- Solvent-based
- By Printing Technology Type:
- Gravure
- Digital
- Flexography
- South Africa
- By Product Type:
- Stretch Sleeve
- Shrink Sleeve
- By End-use:
- Food & Beverage
- Health care
- Personal care
- Others
- By Material Type:
- Oriented Polystyrene (OPS)
- Polyvinyl Chloride (PVC)
- Polyethylene terephthalate (PET-G)
- Polypropylene
- Others
- By Printing Ink Type:
- Water-based
- UV
- Solvent-based
- By Printing Technology Type:
- Gravure
- Digital
- Flexography
- Rest of Middle East & Africa
- By Product Type:
- Stretch Sleeve
- Shrink Sleeve
- By End-use:
- Food & Beverage
- Health care
- Personal care
- Others
- By Material Type:
- Oriented Polystyrene (OPS)
- Polyvinyl Chloride (PVC)
- Polyethylene terephthalate (PET-G)
- Polypropylene
- Others
- By Printing Ink Type:
- Water-based
- UV
- Solvent-based
- By Printing Technology Type:
- Gravure
- Digital
- Flexography
- Company Profiles
- Fuji Seal International, Inc. *
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments
- Future Plans
- CCL Industries
- Dow Chemicals
- Berry Plastics Group, Inc.
- Klöckner Pentaplast
- Macfarlane Group PLC
- Huhtamaki Oyj.
“*” marked represents similar segmentation in other categories in the respective section
