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Latest news from Packaging Innovations & Empack
The Link between Shrink Sleeves and Sustainability
- February 22, 2023
- Sustainable Packaging News
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.
According to market analysis, the Shrink Sleeves industry is expected to experience significant growth in the coming years, with an estimated value of $27.9 billion by 2030. This growth is attributed to the industry’s focus on recyclability and its ability to support a circular economy.
The Compound Annual Growth Rate (CAGR) for the Shrink Sleeves market is projected to be 6.4% from 2022 to 2030. Many companies operating in this industry share a common objective of promoting recycling and advancing towards 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!
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