Although supply chains for various aspects of the beverage industry have been disrupted because of COVID-19, the market for stretch and shrink labels has remained steady. Expanding capabilities, advancements in design, technology and recyclability are likely contributing the use of such labels, experts notes.
The “Shrink and Stretch Sleeve Labels Market: Growth, Trends and Forecasts (2020-2025)” report by Hyderabad, India-based Mordor Intelligence states that the shrink and stretch sleeve labels market, valued at $10.37 billion in 2019, is expected to grow at a compound annual growth rate (CAGR) of 6.52 percent through 2025, resulting a projected market value of $15.55 billion at the end of the forecast period.