The Stretch Sleeve & Shrink Sleeve Labels Market is segmented by Material (PVC, PET, PE, OPP & OPS, Others), By Type (Shrink Sleeve, Stretch Sleeve), By Application (Food, Soft Drinks, Alcoholic Drinks, Cosmetics & Household, Pharmaceutical, Others) and Region (North America, Europe, Asia-Pacific, and Rest of the World).

Market Dynamics

Late advancements in the film, printing and labeling machinery have pushed the limits of stretch sleeves and shrink sleeves applicability and opened up new lucrative opportunities in the stretch sleeve and stretch sleeve labels industry. The fast-growing beverage industry is a key consumer of stretch sleeve and shrink sleeve labels as they have transformed beverage packing and labeling, thus boosting market growth. Moreover, the increasing consumption of beverages, as well as packaged food, has propelled the industry's growth.

COVID-19 Impact

The COVID-19 outbreak moderately affected the growth of the stretch sleeve & shrink sleeve labels market. Due to the pandemic, the supply chain was disrupted in the packaging and labeling industry, which further impacted the demand and supply of the products. However, governments across the globe have deemed food-related businesses essential, owing to which the demand for shrink and stretch sleeve labels market is expected to be steady during the period.

Regional Analysis

The market in Asia-Pacific accounted for a significant market share in 2020 and is projected to grow at a significant CAGR during the assessment period. The regional growth is mainly driven by India and China's developing economies. Also, growing demand for packaged food, increasing urbanized population, easy availability of polymer films, and relatively low labor cost, further proliferate the regional growth.

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