Stretch Sleeve & Shrink Sleeve Labels Industry Trends ... The stretch sleeve & shrink sleeve labels market size is projected to grow from USD 14.4 billion in 2021 to USD 18.9 billion by 2026, at a CAGR of 5.6%, between 2021 and 2026. Shrink sleeve is a relatively new form of label that is gaining popularity in many industries for product packaging.