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. Request For Sample Copy of this Research Report : https://www.coherentmarketinsights.com/insight/request-sample/1924 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%.