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Sleeve Label Packaging Market size was valued at USD 16.11 billion in 2023 and is likely to exceed USD 39.78 billion by the end of 2036, expanding at over 7.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of sleeve label packaging is evaluated at USD 17.04 billion.
The growth of the sleeve label packaging market can be attributed to the growing inclination of consumers towards packaged foods, rise in demand to enhance the on-shelf appeal of products, and the rapid growth of beauty & wellness industry. Currently, the health and wellness industry generates a revenue of more than USD 4.5 trillion. Along with these, these packaging also offer many advantages such as improved brand identity, heightened end-user engagement and better marketing opportunities, which in turn are expected to offer ample opportunities for the growth of the market in the near future.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
7.2% |
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Base Year Market Size (2023) |
USD 16.11 billion |
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Forecast Year Market Size (2036) |
USD 39.78 billion |
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Regional Scope |
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The market is bifurcated by type into shrink and stretch, out of which, the stretch sleeve labels segment is anticipated to witness noteworthy growth in the sleeve label packaging market on account of greater aesthetic appeal and high cost-effectiveness. In addition to these, stretch labels also pose lesser risks to the environment, which in turn is projected to boost the demand of the products over the forecast period. Furthermore, on the basis of material, the PVC segment is expected to gather the largest market share over the forecast period in view of PVC’s light weight and high chemical and abrasion resistance. It is calculated that the worldwide PVC production in 2025 will increase by more than 15 million metric tons from 2019. However, the segment for PET is expected to grow significantly in the coming years owing to the higher versatility of this plastic, greater safety for storage of food items and better durability. Additionally, by application, the pharmaceuticals segment is evaluated to witness most rapid growth, which can be attributed to the increasing expansion of this sector in developing countries and the escalating consumption of drugs worldwide.
Our in-depth analysis of the global sleeve label packaging market includes the following segments
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By Type |
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By Material |
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By Application
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On the basis of geographical analysis, the sleeve label packaging market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. North America industry is anticipated to hold largest revenue share by 2036, driven by presence of leading companies, and robust rate of industrial development in the region. Moreover, Asia Pacific is assessed to emerge as the most futuristic market in the near future owing to the increasing urban population, low cost of labor, and growing availability of polymer films in the region. Furthermore, South-East Asia is anticipated to be a crucial zone for market growth in the future, which can be credited to the large-scale manufacturing of decorative container coatings at lower costs and increasing production of labelling and packaging industries. Apart from these, the rising industrial capacities of countries, namely China and India is also evaluated to fuel sleeve label packaging market growth in the APAC region.
Author Credits: Abhishek Anil
Copyright © 2024 Research Nester. All Rights Reserved
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