GITNUX MARKETDATA REPORT 2024

Shrink Sleeve Labels Industry Statistics

The shrink sleeve labels industry is expected to grow steadily due to increasing demand in the packaging sector.

Statistic 1

"The global shrink sleeve labels market is estimated to be worth around US $10.66 Billion in 2021"

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Statistic 2

"By 2028, it is expected that the shrink sleeve labels industry will reach a value of US $16.90 Billion"

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Statistic 3

"The compound annual growth rate (CAGR) from 2021 to 2028 is projected to be around 6.97%"

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Statistic 4

"North America contributed toward the major share in the global shrink sleeve labels market, primarily due to high demand from the food and beverages industry"

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Statistic 5

"The beverage industry accounts for the largest share of the shrink sleeve labels market"

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Statistic 6

"The Asia Pacific region is expected to observe the highest growth rate for the industry during the forecast period"

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Statistic 7

"Europe's shrink sleeve labels market stood at USD 2.49 billion in 2020"

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Statistic 8

"Digital printing in shrink sleeve labeling is expected to expand at a CAGR of 6.8% from 2021 to 2028"

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Statistic 9

"PVC is the most widely-used material in shrink sleeve labels, holding over 40% of the market share"

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Statistic 10

"The shrink sleeve labels market in South America is currently growing at a moderate rate"

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Statistic 11

"The PETG (polyethylene terephthalate glycol) material segment is expected to observe significant growth due to high demand in Asia Pacific region"

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Statistic 12

"The shrink sleeve labels industry is characterized by high competition due to the presence of numerous key players"

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Statistic 13

"The shrink sleeve labels market has noticed a surge in demand due to increased product differentiation in the present competitive business scenario"

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Statistic 14

"Flexible packaging end-use segment for the shrink sleeve labels market is anticipated to hold a market share of almost 60% by 2024"

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Statistic 15

"The shrink sleeve labels market in India is expected to grow at a CAGR of around 6% during 2020-2025"

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