STRETCH AND SHRINK SLEEVES PACKAGING MARKET ANALYSIS

Market Challenges And Opportunities

Restraints

One of the major challenges in the stretch and shrink sleeves packaging market is the complex recycling process associated with this type of packaging. Materials such as PVC and PETG are difficult to separate during recycling, leading to contamination of recyclable batches. Despite advancements in recycling technology, this continues to be a significant restraint for market growth.

Market Drivers

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. Increasing demand for fast moving consumer goods in Asia Pacific is another major driver, with particular emphasis on markets like India and China. The region's growing personal health awareness is also anticipated to boost demand for healthy packaged beverages and consumer goods.