The Wrapping Machine Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Wrapping Machine Global Market Report 2024, The wrapping machine market size has grown strongly in recent years. It will grow from $3.3 billion in 2023 to $3.59 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to e-commerce boom, manufacturing efficiency, retail industry demand, cost reduction and labor efficiency, globalization of supply chains.
The wrapping machine market size is expected to see strong growth in the next few years. It will grow to $4.82 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to rise of sustainable packaging, customization and personalization, evolving retail trends, pharmaceutical and healthcare sector growth, food industry regulations. Major trends in the forecast period include integration of industry 4.0 technologies, technological advancements in packaging, sustainable packaging solutions, rise in e-commerce and last-mile delivery needs, flexibility and customization.
Increasing demand for sustainable packaging is expected to propel the growth of the wrapping machine market going forward. Sustainable packaging is designed and manufactured packaging that minimizes the use of resources minimizes waste, and is recyclable or compostable. Wrapping machines are used in sustainable packaging to cover products in recycled or bio-based materials and apply labels or shrink wrap to products that can help reduce the amount of packaging material used. For instance, in September 2021, according to 2,000 UK consumers aged 18 to 60 by Drapers, a UK-based business-to-business magazine, and Smurfit Kappa Group, a Europe-based paper-based packaging company, in the UK, around 64% more likely to buy from retailers with sustainable packaging and 50% willing to pay more for sustainable packaging and delivery in 2021. Further, 73% stated that using paper or cardboard packaging is essential, and 66% said it is important to them that the packaging can be recycled. Therefore, the increasing demand for sustainable packaging is driving the growth of the wrapping machine market.
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The wrapping machine market covered in this report is segmented –
1) By Type: Stretch, Shrink, Other Types
2) By Mode Of Operation: Semi-Automatic Wrapping Machine, Automatic Wrapping Machine
3) By Application: Food Industry, Beverages Industry, Personal Care, Pharmaceuticals, Chemicals, Other Applications
Major companies operating in the wrapping machine market are focusing on developing innovative solutions, such as hygienic flow pack wrapping machines, to gain a competitive edge in the market. A hygienic flow pack wrapping machine is a packaging machine that wraps individual packages or products by forming a continuous stream designed to meet the high hygiene standards required for food and pharmaceutical applications. For instance, in June 2021, Grupo ULMA S. Coop., a Spain-based packaging solutions provider, added the FV 55 SD, a new hygienic flow pack wrapping machine, to its FLOW-VAC family of devices. It features a clean design and is manufactured according to USDA (United States Department of Agriculture) standards, ensuring it meets the highest hygiene and safety standards. The FV 55 SD is a horizontal flow-vac type flow wrapper (HFFS) that can vacuum pack food products using a single shrink and barrier film. The machine is designed for vacuum-wrapping meat and cheese products and is suitable for all food products. The FV 55 SD has a sanitary design, which makes it easier to clean and maintain.
The wrapping machine market report table of contents includes:
1. Executive Summary
- Wrapping Machine Market Characteristics
- Wrapping Machine Market Trends And Strategies
- Wrapping Machine Market – Macro Economic Scenario
- Global Wrapping Machine Market Size and Growth
. - Global Wrapping Machine Market Competitive Benchmarking
- Global Wrapping Machine Market Competitive Dashboard
- Key Mergers And Acquisitions In The Wrapping Machine Market
- Wrapping Machine Market Future Outlook and Potential Analysis
- Appendix
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