Stretch and shrink sleeve market could be worth USD13.2bn
The market for stretch sleeve & shrink sleeve labels could be worth USD13.2bn by 2020 according to research by Markets and Markets. Demand for these products have been growing in line with the labeling and packaging industry. The increasing population, rising incomes & spending capacities of people in developing economies, the increasing demand for packaged food, and increasing urbanization are the main factors driving the growth of the stretch & shrink sleeve labels market.
Increasing demand for sustainable polymer films, 3600 display, and tamper-evident also drive the growth of the stretch sleeve & shrink sleeve labels market. The tangled recycling process is the most challenging concern in the market.
The labeling market is marked with intense competition due to the presence of a large number of both, big and small firms. New product launches, mergers & acquisitions, and partnerships & expansions are the key strategies adopted by market players to ensure their growth in the market. The key players in the market are Berry Plastic Group Inc. (U.S.), CCL Industries (Canada), Huhtamaki OYJ (Finland), The Dow Chemical Company (U.S.), Klockner Pentaplast Group (Germany), Cenveo Inc. (U.S.), Fuji Seal International Inc.(Japan), Hammer Packaging (U.S.), Macfarlane Group (U.K.), and Sleeveco (U.S.).
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