The global full container shrink sleeves market is anticipated to accumulate a market value of US$ 15.6 billion in 2023 and is expected to garner a valuation of US$ 29 billion by exhibiting a CAGR of 6.4 % in the forecast period 2023 to 2033. The full container shrink sleeves market reflected a growth of 5.2 % CAGR in the historical period 2018 to 2022.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | US$ 15.6 billion |
| Projected Market Value in 2033 | US$ 29 billion |
| Growth Rate (2023 to 2033) | 6.4% CAGR |
Full container shrink sleeves are ready-to-use and can easily attach to containers of different shapes. Other than the characteristics of providing a greater aesthetic pleasing appeal, it is also eco-friendly in nature. Full container shrink sleeves do not require adhesiveness or heat and depend only on their elasticity to hold the container's shape. As compared to the typical shrink sleeve technology, full container shrink sleeves are more cost-efficient, and this is anticipated to positively influence its demand in the forecast period.
Shrink sleeve labels have the advantage over traditional label types in making a product stand out to consumers. These sleeves serve the purpose of enhancing the versatility of conveying brand messages for packaging designers and brand owners. A sleeve label is attached to a container in several ways, from covering just the shoulders of a container to a complete 360-degree body coverage.
Extra coverage provided by full-body shrink sleeves ensures space for eye-catching and colorful designs. Full-body shrink labels allow product and brand owners extra space to pass on their brand message to both current and prospective customers. With strict labeling regulations for both food and pharmaceutical products in place, having extra space to comply with the regulatory standards while maintaining a product’s ability to reach out to consumers is anticipated to increase the importance of shrink-sleeve labels, thereby increasing product demand.
Along with this, full container shrink sleeves offer better flexibility to manufacturers to customize their product shape any way they want to enhance marketing appeal. For example, a twisted shape bottle may be named Twister, or an apple image can be molded on the neck of an apple juice bottle. All this is generally done by employing shrink sleeves since they allow the flexibility for the graphics to improve bottle design for whatever objective the brand is trying to achieve.
These shrink labels enable product manufacturers to use a single colorless container and distinguish products and lines while using these sleeves. Moreover, the rising trend of single-serve, smaller doses, and smaller containers is anticipated to drive the use of shrink sleeves as a convenient way to get more content around smaller surface areas.
The increase of digital printing in labeling products has become the latest trend that has caught the attention of many manufacturers. Digital printers come in several capacities along with various benefits, which have increased their demand among big and small companies. This demand will directly fuel the demand for full-container shrink sleeves since these labels widely rely on digital branding for improving product attractiveness.
Contrary to traditional label printers, digital printers are used for manufacturing small and micro batches as well as labeling content and can be easily modified as per the product need, proving to be advantageous to small companies.
Region-wise, the Asia-Pacific is anticipated to hold a maximum market share of 44.6% by end of the forecast period. The region will also witness the fastest CAGR of 6.2% during the projection period. The growth is primarily driven by China and India’s emerging economies. Also, growing urbanization, surging demand for packaged food, easy availability of polymer films, and inexpensive labor are some factors that will boost the market growth in the region.
The market in Europe is expected to grow with a significant CAGR of 5.7% during the forecast period. Rising demand for shrink sleeves from food packaging industries and the adoption of these labels in personal care products are expected to drive growth in this region.
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Recent developments and breakthroughs in technology, mergers, acquisitions, tie-ups, and partnerships within the companies involved in manufacturing full-container shrink sleeves are expected to create lucrative opportunities for market growth during the forecast period.
Full container shrink sleeves are a full-body label of the whole container covering a 360 degree using the shrink sleeve label. This label contains branding and essential messages regarding the product. The shrink labels do not use adhesive to stick them on the surface which makes it a replacement for the labels and this property is gaining momentum and popularity in the packaging industry.
Currently, manufacturers are looking for innovative ideas for packaging methods to provide more accurate and aesthetic looks to attract more consumers. Full container shrink sleeves offer more flexibility in terms of appearance and design which gives a competitive edge.
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An attractive and quality labelling can appeal to the customers to buy the product and also leaves a good impression on the brand. The full container shrink sleeves are anticipated to adhere to these requirements mentioned above leading to steady growth of the shrink sleeves market.
The full container shrink sleeves cover the entire product from top to bottom changing the appearance of the product if in case an old product is to be re-branded. The shrink sleeves do not use any adhesive which makes the product re-usable.
At the same time, the full container shrink sleeves also ensure there is no tampering in the product giving an impression of safety that the product is secure and nothing happened to it during the distribution process or that it was not used by anyone.
The downside of using full container shrink sleeves is the recycling part after usage. In the era of sustainability, products that can be recycled are more preferred by the manufacturers and the consumers. The raw materials used in the process such as PET is difficult to recycle because it is a typically heavier weight film which might tend to leave out the residue when sunk in water causing it to clump and affecting marine life.
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Even though the raw material used in the manufacturing of shrink sleeves are not aided for recycling, technology is improving day by day to make this process easier. Firstly the shrink sleeves are supposed to be removed before recycling the plastic or any container. To help with this, a zipper is merged into the shrink sleeve making it easier for the consumer to remove the shrink sleeve before dumping the container.
The shrink sleeve is nowadays developed in such a way that they made to float during the recycling process in a separate water tank enabling better material and ink separation from the shrink sleeves into the recycling stream.
Key Global Players of the Full container shrink sleeve market are:
Key players in the Asia Pacific region of the Full container shrink sleeve market are:
Covid 19 impacted a lot of industries causing the decline of the GDP of the market and the packaging industry overall. Essential products were still supplied but to reduce the cost of spending on the operational process, new innovative ideas for packaging was taken into consideration.
Instead of directly printing on the containers or applying labels, manufacturers switched to full container shrink sleeves temporarily. With time the advantages of the shrink sleeves started to drive the growth of the market due to shorter lead times, lower minimums, reduced costs, and less inventory.
The full coverage of the product and the tamper-proof packaging also acts as a huge benefit at the time when consumers are adapting to products that promote safe hygiene.
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Full Container Shrink Sleeves Market
