The global stretch sleeves & shrink sleeves market size is expected to gain momentum owing to the increasing incidence of counterfeiting and product tampering across the globe. This information is published by Fortune Business Insights, in its upcoming report, titled, “Stretch Sleeves & Shrink Sleeves Market Size, Share & Industry Analysis, By Product Type (Color coated roofing sheets, Profile Sheets, Galvanized Sheets, Curving Sheets, Tile roof sheets, Louvers, Roof Ventilators, C & Z purlins, Others), By Application (Residential, Commercial, Industrial) and Regional Forecast, 2021-2028.”
The widespread effect of the global pandemic, COVID-19, has been felt across several economies that are facing unprecedented loss. Owing to the lockdown announced by the government agencies to curb the spread of the novel coronavirus, several industries have been on a standstill with zero operational activities. However, a collective effort from the government, as well as the industries is anticipated to bring the economy back on track and aid in resuming industrial activities. This is expected to contribute to the growth of the global market for stretch sleeves & shrink sleeves in the near future.
Stretch sleeves & shrink sleeves are types of polyester labels that are used to wrap up the entire perimeter of the products. They are highly elastic and are extensively adopted across packaging, automotive, and pharmaceutical industries. Owing to their several beneficial properties such as safety seals to protect brands from tampering, they are in great demand across the globe.
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What does the Report Include?
The global market for stretch sleeves & shrink sleeves report includes a detailed assessment of various growth drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Additionally, the report provides a comprehensive research into the regional developments of the market that would affect its growth during the forecast period. It includes information sourced from the advice of expert professionals from the industry by our research analysts using several methodologies. The competitive landscape offers further detailed insights into strategies such as product launches, partnerships, merger and acquisition, and collaborations adopted by the companies to maintain market stronghold between 2019 and 2026.
Increasing Incidence of Counterfeiting of Drugs to Augment Growth
According to the Organization for Economic Co-operation and Development (OECD), the total economic loss suffered by top medical brands owing to counterfeiting of drugs rakes in billions every year. The growing incidence of counterfeiting and tampering of drugs are propelling the demand for stretch sleeves & shrink sleeves across the medical sector. In addition to this, the rising packaging sector is expected to bode well for the growth of the global stretch sleeves & shrink sleeves market during the forecast period.
Rising Food & Beverage Industry in Asia-Pacific to Surge Demand
Among all the regions, Asia-Pacific is expected to remain at the forefront and hold the highest position in the global stretch sleeves & shrink sleeves market in the forthcoming years. This is ascribable to the rising food & beverage industry that drives the demand for efficient packaging in the region.
The market in North America is expected to experience substantial growth backed by the growing pharmaceutical industry that requires advanced stretch sleeves & shrink sleeves to protect drug brands from counterfeiting between 2019 and 2026.
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Major Companies Focus on Acquisition to Expand Their Product Portfolio & Boost Sales Revenue
The global stretch sleeves & shrink sleeves market is consolidated by the presence of major companies that are focusing on acquiring other small companies to expand their product portfolio and further boost sales revenue. Additionally, key players are adopting strategies such as the introduction of new stretch sleeves & shrink sleeves products and collaboration to maintain market presence during the forecast period.
- January 2019 – Emsur announced the acquisition of Eximpack, a leading manufacturer of stretch sleeves & shrink sleeves. According to the company, the acquisition is aimed at expanding its product portfolio and strengthening its position in the beverage and dairy sector.
List of the Companies Operating in the Global Market for Stretch Sleeves & Shrink Sleeves:
- Berry Plastic Group Inc.
- CCL Industries
- The Dow Chemical Company
- Hammer Packaging
- Fuji Seal International Inc.
- Huhtamaki OYJ
- Macfarlane Group
- Klockner Pentaplast Group
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