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.
Heat-shrink sleeve labels, crafted from heat-responsive materials, tightly conform to containers, serving as visually appealing, durable solutions for product identification. Widely used in packaging for bottles and cans, they play a crucial role in branding and information display for various products. Digital printing’s cost-effectiveness for shorter production batches addresses the high costs associated with small print runs in traditional methods, fostering growth in the market.
The COVID-19 pandemic profoundly impacted the market, posing challenges to production, supply chains, and demand dynamics. Companies had to swiftly reevaluate and adjust supply chain strategies to navigate disruptions and mitigate associated risks.
Fortune Business Insights™ provides this information in its research report, titled “Heat-Shrink Sleeve Labels Market, 2024-2032”.
Top Company in the Heat Shrink Sleeve Labels Market:
- 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)
Browse Detail Summary For the Heat Shrink Sleeve Labels Market
https://www.fortunebusinessinsights.com/heat-shrink-sleeve-labels-market-110436
Segmentation:
Polyvinyl Chloride Segment Leads Owing to Cost-Effective Appeal
By material, the market is segmented into polyethylene, polyvinyl chloride, polyethylene terephthalate, polystyrene, and others. The polyvinyl chloride segment dominates the market. PVC’s dominance is bolstered by its cost-effectiveness, making it an attractive choice for manufacturers seeking budget-friendly labeling solutions without compromising on quality or performance, thus driving its demand across global market segments.
Bottles Segment Lead the Market Owing to Enhanced Retail Aesthetics
By product type, the market is divided into bottles, cans, and jars & containers. The bottle segment captures the key share in the market. Heat-shrink sleeve labels contribute to a visually appealing and polished appearance on bottles, crucial for effective retail presentation. This feature propels the segment’s growth as brands prioritize compelling aesthetics on retail shelves.
Food Packaging Segment Dominate the Market Due to Consumer-Driven Transparency
In terms of application, the market is segmented into foods, beverages, personal care & cosmetics, healthcare, electronics, and others. The foods segment leads the market, driven by the industry’s focus on food safety and transparency. Brands use heat-shrink sleeve labels, incorporating QR codes and RFID tags, allowing consumers to trace the product journey, enhancing transparency, and providing real-time access to crucial information.
In terms of region, the market is categorized into Europe, North America, Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage:
The report delivers a comprehensive market analysis, emphasizing crucial elements like key players, competitive landscape, product/service types, market segmentation, Porter’s five forces analysis, and primary product applications. Additionally, it sheds light on market trends and significant industry developments.
Drivers and Restraints:
Innovation in Materials, Printing Technologies, and Customizability to Amplify Product Demand
Advancements in shrink film materials, introducing features such as recyclability and compatibility with various packaging substrates, contribute to market growth by meeting the demand for sustainable and versatile labeling solutions. Moreover, the integration of digital printing technologies addresses the rising demand for customizable packaging, allowing intricate and highly personalized designs on heat-shrink sleeve labels, aligning with consumer preferences for unique products.
The use of non-recyclable plastics in traditional heat-shrink sleeve labels impedes heat-shrink sleeve labels market growth, necessitating innovation for biodegradable and recyclable alternatives.
Regional Insights:
Asia Pacific Holds the Largest Market Share Owing to Local Manufacturing Adoption
Asia Pacific secures the largest heat-shrink sleeve labels market share, propelled by local packaging manufacturers embracing these products. This adoption caters to varied product categories, from cosmetics to food and beverages, contributing to the region’s industry leadership.
Securing the second-highest position in the market, North America is predominantly driven by major contributions from the U.S. and Canada. The region boasts a substantial presence of key players and demonstrates a high degree of technological innovation.
Competitive Landscape:
Industry Players’ Emphasis on Advancing Packaging Solutions to gain Competitive Edge
Dominated by major players such as Avery Dennison Corporation and Huhtamaki Oyj, the fragmented heat-shrink sleeve labels market witnesses intense competition driven by innovation. Key market contributors, including Fuji Seal International and CCL Industries Inc., focus on regional expansion, while numerous others in the industry are dedicated to advancing packaging solutions.
Key Industry Development:
August 2023: Amcor revealed plans to acquire Phoenix Flexibles, enhancing its presence in the Indian market and gaining advanced film technology for local production of sustainable packaging solutions.
