A new report from Future Market Insights forecasted the global shrink sleeve label applicator market will expand by 2% in 2021, with growing focus on food and beverage generating opportunities.
The report says the pharmaceutical industry accounts for major growth in the market, with advancements in the generic drugs. The bulk of all generic drugs are produced in India, accounting for over a fifth of the global export volume. Shrink sleeve label applicator companies are augmenting its footprint across the South Asian market.