According to a new market research report "Shrink Sleeve & Stretch Sleeve Labels Market by Polymer Film (PVC, PETG, OPS, PE and Others), by Type (Shrink and Stretch), by Ink & Printing Technology, by Application (Food, Beverages, Personal Care and Others), by Region - Global Forecast to 2020", Published by MarketsandMarkets, the global stretch & shrink sleeve labels market with analysis and forecasting of the global volumes and values market. It also identifies the driving and restraining factors of the market with an analysis of trends, opportunities, burning issues, winning imperatives, and challenges.
The Stretch & Shrink Sleeve Labels Market is buyer-oriented. It has shown substantial growth due to the rising urbanized population, resurgence of the packaging and labeling industry in developing economies, increasing demand for packaged food, and emphasis on the usage of sustainable materials. The keys aspects such as tamper-evident & anti-counterfeiting facility, 360° display, and extra printing space have fostered the market.
The global stretch & shrink sleeve labels market is projected to reach USD 13.20 Billion by 2020, at a CAGR of 5.5% from 2015 to 2020. The Asia-Pacific region dominated the market followed by Europe and North America in 2014. Developing countries such as China and India are estimated to grow at a higher rate from 2015 to 2020.
The U.S., China, Japan, Germany, Brazil, Argentina, Canada, India, and South Africa are investing large amounts in the labeling and packaging industry; hence, it is important to achieve rapid and sustained economic growth. Major players in the market are developing new techniques to achieve sustainability.
The most severe challenge that the stretch & shrink sleeve labels market faces is the recycling of the labels. The stretch & shrink sleeve labels market is growing at a steady pace; however, it is also creating extensive waste. The issue becomes more critical as the recycling process is highly complex and requires large amount of capital.
The global stretch & shrink sleeve labels market is marked with intense competition due to the presence of a large number of both, big and small firms. New product launches and innovations are the key strategies adopted by market players to ensure their growth in the market. The key players include Berry Plastics Group Inc. (U.S.), CCL Industries (Canada), Cenveo, Inc. (U.S.), Huhtamaki OYJ (Finland), Klockner Pentaplast Group (Germany), The Dow Chemical Company (U.S.), Fuji Seal International Inc. (Japan), Hammer Packaging (U.S.), Macfarlane Group (U.K.), and Sleeveco (U.S.).
www.marketsandmarkets.com
