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Shrink Sleeves are moving towards a newer path now with rapid growth that can seem to be beneficial towards recyclability and achieving a circular economy.
The industry for Shrink Sleeves is supposed to reach up to $27.9 Billion by 2030 and will seem to be growing drastically during these years due to the recyclability benefits that it brings to the table.
The CAGR for Shrink Sleeves market will be at 6.4% from 2022-2030 with many markets and companies operating in the same industry to achieve one goal – encouraging recycling and achieving a circular economy. Some of the market leaders are:
- Berry Global Inc.
- Bonset America Corporation
- CCL Industries
- Fuji Seal Industries Inc.
- Polimex Milan
Shrink Sleeves can be used on any type of packaging due to them being extremely versatile. From awkward shaped containers to containers that might not be as awkward, it reduces the waste a company might produce due to flexibility that the sleeves offer. Additionally, the sleeves can then also be recycled and reused for more raw materials as well!
Shrink sleeves also provide a tamper-evident seal on packaging which helps with making transportation easier and helps you reduce the impact of wear and tear that your product might experience. Eliminating such a factor helps you ensure that your products are safe during the whole process and you do not end up using a lot of raw materials during the process.
Lastly, one of the major reasons as to why we encourage the use of shrink sleeves is due to the recycling capabilities that it offers. This can usually depend on the material that is being used such as PET and PVC that are commonly recyclable. Moreover, switching over to PET will enable a lot of room for you to encourage your customer base to recycle along with ensuring that your product stands out on the market shelves.
So, what are you waiting for? If you want to achieve an economy that is circular and encourage sustainability, the change starts from your packaging materials. Change up how you package your product and see the difference for yourself.