The global heat-shrink sleeve labels market size was valued at USD 15.95 billion in 2023. The market is anticipated to expand from USD 16.79 billion in 2024 to USD 26.68 billion by 2032, exhibiting a CAGR of 5.96% during the forecast period.
The market encompasses the production and distribution of labels that contract upon exposure to heat, tightly adhering to container shapes. Ideal for bottles and cans, these labels offer visually appealing and durable branding and information display solutions. The rise of IoT and smart technologies drives the trend of integrating QR codes, NFC, and augmented reality into heat-shrink sleeve labels, elevating consumer interaction and contributing to the market's expansion.
The market faced notable challenges during the COVID-19 pandemic, with disruptions affecting production, supply chains, and overall business operations. Companies responded by reassessing and reconfiguring their supply chain strategies to address the evolving global landscape and minimize risks.
Fortune Business Insights™ provides this information in its research report, titled “Heat-Shrink Sleeve Labels Market, 2024-2032”.
List of Key Players Mentioned in the Report:
Berry Global Inc. (U.S.), Huhtamaki Oyj (Finland), Fuji Seal International, Inc. (Japan), Amcor Plc (Switzerland), CCL Industries Inc. (Canada), Avery Dennison Corporation (U.S.), Klöckner Pentaplast Europe GmbH & Co. KG (U.K.), Multi-Color Corporation (U.S.), C-P Flexible Packaging (U.S.), Resource Label Group, LLC (U.S.), Consolidated Label Co. (U.S.), Fortis Solutions Group (U.S.), Taghleef Industries (UAE), Multipack Labels (India), Akar Shrink Packs (India), C.I. TAKIRON (Japan), Shenzhen Golden Ocean Industrial Development Co., Ltd. (China), Traco Packaging (U.S.), HUBEI HYF PACKAGING CO., LTD. (China)
Segmentation:
Polyvinyl Chloride Segment Dominates owing to 360-Degree Graphics with Flexibility
In terms of material, the market is segmented into polyethylene, polyvinyl chloride, polyethylene terephthalate, polystyrene, and others. The polyvinyl chloride segment leads the market. PVC heat-shrink sleeve labels offer the unique advantage of adapting seamlessly to containers of diverse shapes and sizes, enabling 360-degree graphics coverage for vibrant and detailed branding, contributing to segment growth.
Bottles Segment Dominates the Market owing to Adaptability to Diverse Bottle Designs
On the basis of product type, the market is divided into bottles, cans, and jars & containers. The bottle segment emerges as the dominant product type in the global market. The dominant position of bottles in the market is driven by the labels' exceptional adaptability to various bottle shapes and sizes, catering to a wide range of intricate and unique designs.
Food Packaging Segment Leads the Market Due to Enhanced Food Safety Measures
On the basis of application, the market is divided into foods, beverages, personal care & cosmetics, healthcare, electronics, and others. The foods segment dominates the market, supported by heat-shrink sleeve labels' integration of traceability, authentication, and tamper-evident features. This technology ensures compliance with food safety regulations, contributing to the segment's prominence.
In terms of region, the market is categorized into Europe, North America, Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage:
Offering a detailed examination, the report covers key aspects, including key players, competitive landscape, product/service types, market segmentation, Porter's five forces analysis, and primary product applications. It also provides valuable insights into market trends and noteworthy industry developments, encompassing factors that fueled recent market growth.
Source- https://www.fortunebusinessinsights.com/heat-shrink-sleeve-labels-market-110436
Drivers and Restraints:
Rising Application of Product in Diverse Industries to Spur Market Growth
The suitability of heat-shrink sleeve labels for containers of different shapes and sizes enhances their market growth, offering a versatile labeling solution that caters to diverse product portfolios within various industries. Moreover, the market experiences sustained growth as industries increasingly recognize the aesthetic and functional benefits of heat-shrink sleeves, leading to a broader adoption in both new and existing product categories.