Increasing Expenditure on Personal Care Products and Significant Growth in Fast-Moving Consumer Goods (FMCG) Sector to Augment Growth of Sleeve Labels Market
Sleeve labels find application in fast-moving consumer goods, food & beverages, and pharmaceutical packaging sector. Market Dynamics Increasing expenditure on personal care products is expected to propel growth of the global sleeve labels market . For instance, according to the U.S. Bureau of Labor Statistics, average annual expenditure on personal care products in the U.S. increased from US$ 707 in 2016 to US$ 768 in 2018. Significant growth in the fast-moving consumer goods (FMCGs) sector is expected to offer lucrative growth opportunities for players in the global sleeve labels market. For instance, according to India Brand Equity Foundation, FMCG market in India is expected to grow at a CAGR of 27.86 per cent and is expected to reach US$ 103.70 billion by 2020 from US$ 52.75 billion in FY18. Moreover, stringent regulation regarding counter tampering and increasing counterfeiting of various products is also expected to aid in growth of the market. For instance, in 2...