Stretch and Shrink Sleeves Packaging Market|Verst Logistics, Inc., CCL Industries, Huhtamaki Group



 Stretch and shrink sleeves are comprised of polymer material that shrinks to the surface of the product when heated. Due to its capacity to adjust to any shape, shrink sleeves packaging is one of the most popular packaging options for critical players.

All substrates, including glass, metal, and plastic, are ideal for stretch and shrink sleeves packing. Food and beverages, dairy goods, cleaning products, fruit juices, and cosmetics all use it to keep their products clean and safe.

Over the forecast period, the shrink sleeves packaging market is expected to rise due to rising food packaging demand around the world (2018 - 2025).According to the US Department of Commerce, the market for packaged food products in Russia was worth US$ 27.5 million in 2017 and is predicted to expand to US$ 29 million by 2020.Furthermore, shrink sleeves packaging has a large display surface, is durable, provides tamper evidence, and is cost-effective, all of which are driving market expansion.

The global stretch and shrink packaging market is likely to be dominated by Asia Pacific. The increased demand for food packaging material by emerging nations such as China and India, which is driving market expansion, is a result of high growth in the food and dairy industry. For instance, according to India Brand Equity Foundation (IBEF), food business was valued at US$ 39.71 billion in 2017, and predicted to reach at US$ 65.4 billion in 2018, with CAGR of 11 percent .

Due to key players' involvement in merger and acquisition activities to increase their product portfolio in the industry, the stretch and shrink sleeves packaging market in North America grew positively in 2017. For example, in 2017, Snow Phipps Group purchased Brook & Whittle Ltd. to provide a comprehensive spectrum of heat shrink sleeves packaging conversion services in North America.

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 are among the major players in the global stretch and shrink sleeves packaging market.

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