In 2020, Sleeve Labels Market generated US$ 13.2 billion in revenue, according to Persistence Market Research. By 2031, the market is anticipated to have grown at a CAGR of almost 7%, reaching US$ 28 billion. The market share held by the top 5 manufacturers (15–18%) will cause the demand for sleeve labels to increase.
With global volumes increasing 6.1% year over year in 2021, the market for sleeve labels had a respectable increase. In spite of initial concerns about how the market would function in the event of a global pandemic, the U.S. market grew by 5.2% year over year in 2021. The total value of sleeve label sales across all of North America was US$ 3 Bn in 2021.
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Market forecasts for 2021 to 2031 compared to industry analysis of the Sleeve Labels market from 2014
Historically, from 2014 to 2020,use of sleeve labels increased at around 4.1% CAGR, wherein, developed countries such as the U.S., Germany, Canada, and the U.K. held a significant share in the global market.
Traditionally, sleeve labels were used only as a medium for displaying regulatory and marketing content. With advancements in technology such as RFID chips and QR codes, sleeve labels are used for more sophisticated applications like tracking, tracing, anti-tampering solutions.
Manufacturers from many industries such as food, beverages, and pharmaceuticals, among others, are concerned about delivering authentic product content to consumers, and often use sleeve labels as a medium for tampering and counterfeit protection solutions. All these added benefits have bolstered demand for sleeve labels in the past couple of years.
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Which Region Offers the Largest Opportunity for Sales of Sleeve Labels Market?
With an incremental opportunity of around US$ 5.4 Bn, East Asia is expected to be the most lucrative market for sleeve label suppliers. China is leading the East Asian market and is expected to witness the highest growth during 2021-2031.
With several benefits offered by the government for manufacturing processes, coupled with ease in availability of raw materials and cheap labour, the sleeve labels market in China is anticipated to grow substantially over the coming years.
Key Segments Covered in Sleeve Labels Market Report
By Product Type
- Stretch Sleeve Labels
- Shrink Sleeve Labels
By Material
- Polythene Terephthalate Glycol (PETG) Sleeve Labels
- Polyvinyl Chloride (PVC) Sleeve Labels
- Oriented Polystyrene (OPS) Sleeve Labels
- Polypropylene (PP) Sleeve Labels
- Polyethylene (PE) Sleeve Labels
- HDPE Sleeve Labels
- LDPE Sleeve Labels
- LLDPE Sleeve Labels
- Others (Polylactic Acid, etc.)
By Printing Technology
- Rotogravure Printing
- Flexographic Printing
- Offset Printing
- Digital
- Letterpress Printing
By End Use
- Sleeve Labels for Food
- Sleeve Labels for Bakery & Confectionaries
- Sleeve Labels for Dairy Products
- Sleeve Labels for Baby Food
- Sleeve Labels for Frozen Foods
- Others (Sweet & Savory Snacks)
- Sleeve Labels for Beverages
- Sleeve Labels for Alcoholic Products
- Sleeve Labels for Non-alcoholic Products
- Sleeve Labels for Pharmaceuticals
- Sleeve Labels for Personal Care & Home Care
- Sleeve Labels for Toiletries
- Sleeve Labels for Hair & Skin Care
- Sleeve Labels for Baby Care
- Others (Surface Care, Air Freshener, etc.)
- Sleeve Labels for Chemicals
- Sleeve Labels for Other Industrial
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