Stretch Sleeve and Shrink Sleeve Labels Market Share

North America Market Analysis:   

North America industry is predicted to dominate majority revenue share of 33% by 2037. Digital printing and rotogravure are some major advanced printing technologies that seem to be adopted rapidly for producing high-quality, customized sleeve labels. Again, growing concerns regarding sustainability in packaging are impelling North America’s manufacturers to replace their raw materials used for sleeve labels with biodegradable and recyclable material resources.

Another key driver of the market is the surge in growth of the food and beverage industry across the United States. As per the U.S. Department of Commerce, food and beverage manufacturing plants witnessed an increase in sales by 16.8% in 2021. Key players invest in advanced printing technologies and extend production capacities in response to growing demand in the U.S. market. 

Canada’s market is also expected to rise steadily till 2037, powered by increasing demand for ecological innovation concerning packaging. Some manufacturers are thus involved in the development of eco-friendly stretch sleeve labels made with recycled material. Government initiatives in Canada for promoting enhancement in the use of circular economy strategies and reducing plastic waste further support the growth of stretch sleeve & shrink sleeve labels in the country.

Asia Pacific Market Analysis:

Asia Pacific is also projected to provide potential growth opportunities in the stretch sleeve & shrink sleeve labels market. Rapid industrialization and urbanization in countries like India, China, and Japan back a demand push for such labeling solutions from end-use industries. Prominent end user industries driving the market include food and beverages, personal care, and consumer electronics. Companies based in the region are investing in the latest printing technologies and materials to offer customized, high-quality sleeve labels.

In March 2022, Uflex introduced improved durability and printability shrink sleeve labels targeting the growing packaged food and cosmetics sectors in India. Governments are also playing their part in this growth of the stretch sleeve & shrink sleeve labels market.  For instance, the campaign of the Indian government, "Make in India," was a domestic manufacturing initiative that gained heaps of support and incentives to packaging companies for investing in new technologies and increasing production capacities.