Stretch Sleeve and Shrink Sleeve Labels Market Size

Stretch Sleeve & Shrink Sleeve Labels Market size was over USD 15.6 billion in 2023 and is expected to reach USD 36.7 billion by the end of 2036, growing at a CAGR of 6.8% during the forecast period, i.e., 2024-2036. In 2024, the industry size of stretch sleeve & shrink sleeve labels is estimated at USD 16.6 billion.     

The adoption of stretch sleeve & shrink sleeve labels is anticipated to rise significantly with increased demand for visually appealing and cost-effective labeling solutions. The opportunity for market growth lies in sustainable packaging solutions since many manufacturers are adopting environment-friendly raw materials and green processes for production. In January 2024, CCL Industries invested €50 million to open its new sustainable sleeve label hub in Dornbirn, Austria. The plant is one of the pioneer facilities designed to produce high-end, sustainable shrink sleeves based on state-of-the-art EcoFloat decoration technology. This underlines the commitment of the sector to sustainability and the rising regulatory pressures for environmentally friendly packaging solutions.

Investments from companies in advanced printing technologies are improving the appearance and functionality-related feature sets of labels. Moreover, government regulations related to packaging and labeling are also driving the market expansion. For instance, in 2022, the European Union passed new legislation that requires all types of packaging, including labeling, to be composed of recyclable material. As such, stretch sleeve & shrink sleeve label manufacturers have incorporated more sustainable label materials.