Stretch and Shrink Sleeves Packaging Market

Stretch and Shrink Sleeves Packaging Market – Size,
Share, Outlook, and Opportunity Analysis, 2018 2025
Stretch and shrink sleeves are made from polymer material, which shrink to the
product surface upon application of heat. Shrink sleeves packaging is one of the
major packaging option for the key players due to its ability to conform to any shape.
Stretch and shrink sleeves packaging is suitable solution for all substrates such as
glass, metal, and plastic. It is used in the food and beverages, dairy products,
cleaning products, fruit juices and cosmetics to maintain hygiene and safety of the
products.
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Market Dynamics
Increasing demand for food packaging across the globe is projected to drive growth
of the shrink sleeves packaging market over the forecast period (2018 - 2025).
For instance, according to United States Department of Commerce, Russia
packaged food product market was valued at US$ 27.5 million in 2017, and expected
to grow by US$ 29 million by 2020.
Furthermore, shrink sleeves packaging offer various advantages such as huge
display area, durability, tamper evidence protection, and cost-effectiveness, which is
fueling market growth.
Market Outlook
Asia Pacific is expected to dominate the global stretch and shrink packaging market.
High growth in the food and dairy industry results in rising demand for food
packaging material by the emerging economies such as China and India which is
driving the market growth. For instance, according to India Brand Equity Foundation
(IBEF), food industry was valued at US$ 39.71 billion in 2017, and expected to reach
at US$ 65.4 billion in 2018, with CAGR of 11%.
Increasing demand for fast moving consumer goods in this region is expected to fuel
growth of the market. Furthermore, increasing awareness about personal health is
also anticipated to boost the demand for healthy packaged beverages and consumer
goods, which in turn is driving market growth. For instance, according to India Brand
Equity Foundation (IBEF), FMCG sector was valued at US$ 52.75 billion in 2017,
and expected to reach US$ 103.7 billion by 2020, with CAGR of 27.86%.
North America is witnessing positive growth in the stretch and shrink sleeves
packaging market in 2017, due to involvement of key players in merger & acquisition
activity to expand their product portfolio in the market. For instance, in 2017, Snow
Phipps Group acquired Brook & Whittle Ltd. to offer a full range of services in the
conversion of heat shrink sleeves packaging products across the North America.
Major manufacturers are focused on the personal care, food and beverage industries
in the U.S. and in Canada to fulfil the demand for sustainable material for shrink
sleeve packaging.
Key Players
Key players operating in the global stretch and shrink sleeves packaging market
include Verst Logistics, Inc., CCL Industries, Huhtamaki Group, Eurofilms, Berry
Global Inc., The Dow Chemical Company, Hipac Packaging Solutions, Cenveo
Corporation, Intertape Polymer Group, Fuji Seal International, Inc. and Macfarlane
Group plc.
Key players are strategically investing in development of innovative product and
launch activities, which is fueling growth of the global stretch and shrink sleeves
packaging market. For instance, in 2013, The Coca-Cola Company launched new
shrink sleeve packaging solution for the full bottle labelling in market. New shrink
sleeves offer rich color shades and perfect design.
The materials used for stretch and shrink sleeve packaging such as PVC and PETG
that are difficult to separate from PET bottles during the recycling process as
resulted contaminated batch of PET. This new technology is applied to other plastics
and packaging products where cross contamination of materials creates a roadblock
for recycling processors.
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The research report on Stretch and Shrink Sleeves Packaging Market is segmented by Product Type, Packaging Type, Polymer Type, End-Use Industry – Size, Share, Outlook, and Opportunity Analysis, 2018 - 2025

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