Despite a significant drop in product sales during the initial phase of the pandemic's spread and lockdown restrictions across the region, the market is expected to grow at a CAGR of 5 % between 2020–2027.
The tamper-evident band on a packaging material benefits both the consumer and the manufacturer. The ineffective use of tamper-evident bands causes any product impersonation that harms the brand's image or sales. As a result, the use of tamper-evident seals has grown in industries such as food and beverages, pharmaceuticals, home care, and personal care. The demand for tamper-evident banding applicators has increased significantly in recent years. Tamper evident banding applicators can completely sleeve pack around the neckline of a bottle or container, which distinguishes them from traditional sleeving applicators.
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As consumers become more aware of the harmful effects of non-recyclable plastics, they have begun to seek out eco-friendly alternatives. Reusable and recyclable packaging materials are the most prominent example to consider, given the industry's rapid changes. The use of shrink sleeve labels is one example of long-term innovation. Shrink sleeves outperform other labeling options in terms of sustainability. As shrink labels are removable, they can be stripped off and recycled separately from the container once a bottle is on the recycling line. As a result, shrink sleeves outperform tape labels (which adhere to the packaging) and stick-on labels (which cannot be recycled at all). Due to recent advancements in film manufacturing technology, the new shrink sleeves are thinner than those used previously. The amount of material used in some shrink sleeve labels has been reduced by 30–50%. Demand is increasing as people become more conscious of their lifestyles and purchases. The industry will be one of the fastest-growing sectors of the packaging supply industry soon.
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* Known and Unknown Adjacencies Influencing the Growth of Market
* Explorable Revenue Sources
* Customer Behaviour Analysis
* Target Partners
* Customized Geographical Data Based on Customers as well as Competitors
* Analysis of Market Size and CAGR between the Forecast PeriodsView Full Report Buy This Report Now