The shrink sleeve & stretch 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 accounted for the largest share in terms of value, followed by Europe and North America in 2014.
In recent years, the Asia-Pacific region has progressed significantly in the shrink sleeve & stretch sleeve labels market, which primarily includes emerging economies such as India and China.
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The main driving forces in the Asia-Pacific region include growth in spending capacity, rising urbanized population, increasing demand for packaged food, easy availability of polymer films, and low labor cast. Cities in the Asia-Pacific economies would hold 54% of the world’s urban population, thereby creating the largest workforce in the world. The emerging economies such as India and China have played a vital role in the growth rate of the industry.
Tamper-evident & anti-counterfeiting facilities, 3600 display, and extra printing space for content information are the driving forces behind the growth in the market.
Browse 88 market data tables and 53 figures spread through 158 pages and in-depth TOC on “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”
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.).