Sleeve Labels Market to hold a high potential for growth by 2024

Sleeve Labels Market highly favorable to the growth rate by 2024

Introduction

Labelling is one of the key elements of modern marketing. In the recent past, labelling and packaging industry has witnessed extensive product innovation. Sleeve label is one such innovative product that has steadily gained traction in the packaging landscape. Sleeve label is a full body label for containers covering it from top to bottom. In other words, such labelling can be defined as colorful wraparounds over containers creating a greater aesthetic appeal.

In addition, expanding application base of Sleeve Labels Market over the past few decades has led to a healthy growth of the global sleeve label market. Food and beverage packaging is considered as the predominant end-use segment that’s ramping up demand for sleeve labelling. Further, the demand for the product is also being supplemented by its rapid adoption in healthcare and personal care packaging solutions.

Types of Sleeve Labels Market

There are two types of Sleeve Labels Market available in the packaging industry — shrink Sleeve Labels Market and stretch Sleeve Labels Market. Shrink Sleeve Labels Market are popular in the market and have been well embraced by the packaging industry. Shrink Sleeve Labels Market comfortably adapt to the shape of the container giving a higher product visibility and consumer appeal. In addition, shrink sleeve labelling is common in milk, soda, and juice containers. The market share of sleeve labels is assessed to be 12% of the worldwide naming market in 2016 and is anticipated to grow at a CAGR of more than 5% all through the estimate time frame.

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Stretch sleeve labelling is ready-to-use and can be used on containers of different shapes. Apart from the characteristics of providing a greater aesthetic appeal, it is also eco-friendly. Such labels come with zero adhesiveness or heat and only rely on its elasticity to hold the shape of the container. Compared to the stander shrink sleeve technology, stretch Sleeve Labels Market are more cost-effective in nature and this factor is expected to positively impact its demand in the future.

Trends

The present day marketing landscape require manufacturers to exercise flexible, quick, and non-conventional techniques of labelling along with creating safe and successful concepts. It has been observed that the labelling industry registered a two-fold growth over the last decade. Particularly, the sleeve label segment, which has exhibited significant growth rate owing to factors such as cost efficiency, greater on-shelf appeal, and increasing brand competitiveness.

Manufacturers are prioritizing consumer expectation and construct better end-use engagement. Various brands, especially in the food and beverage industry, are concentrating on advanced labelling of their products to maintain a competitive edge. For example, recently, a well-known label manufacturing company “Overnight Labels. Inc.” introduced a range of craft beer labels comprising of shrink sleeves offering enhanced substrates, varnish and graphics.  A few years ago Coca-Cola Co., developed a sleeve label made from a polyolefin mix that more eco-friendly.

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Conclusion

The global sleeves labelling market is expected to register a healthy growth in the coming years. Shrink Sleeve Labels Market are expected to maintain its dominance over the market. As of now, stretch sleeve label is only effective in small scale labelling solutions, however, manufacturers are highly focusing on R&D programs to offer glue-less, thinner, and eco-friendly labelling.

Key

Globally, the leading players in sleeve labels include CCL Industries, Fuji Seal International, Inc., DOW Chemicals, Berry Plastics Group, Inc., Macfarlane Group PLC, Huhtamaki Oyj and Klockner Pentaplast. These companies operate in different regions and account for a substantial share of the market. Moreover, the industry, particularly in emerging market, also houses a large number of small-scale players, which operate in profitability margins.

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