The global wrapping machine market is anticipated to reach a value of US$ 3.2 billion in 2023 and grow at a CAGR of 3.7% to reach US$ 4.6 billion by the year 2033, according to research from Future Market Insights. The market share held by the top 5 businesses is predicted to be between 15% and 20% in 2022, which would lead to an increase in wrapping machine sales.
Based on automation, it is expected that among the other materials used to make wrapping machines, the automatic machine would continue to hold the top position. The market value of automatic machines is predicted to increase between 2023 and 2033 by a factor of 1.4.
Wrapping machine market is set to witness steady growth during 2021-2031. Demand for wrapping machine will witness steady recovery in short-term. The wrapping machine market is expected to expand in the upcoming years due to high demand of packaged goods and safe transportation of products with the significant CAGR.
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What is Driving Demand for Wrapping Machine?
The trend of modernization, which includes delivery of packaged goods to the door step is accelerating the demand for wrapping machines in the packaging industry. This in turn is expected to boost the growth of the wrapping machines market
The movement of industrial products and consumer goods to various places necessitates safe and secure packaging, which in turn is expected to increase the demand for wrapping machines. Additionally, the growing footprint of the wrapping machine market across the globe due to increase in packaging products is expected to fuel the growth of the wrapping machines market.
The wrapping machines market is escalating its footprint in the packaging industry across the world by providing safe and efficient transition of goods. Effective product wrapping is also likely to increase the presentation quality and consumer appeal of the product, which in turn, increases the demand for wrapping machines.
As the transportation and processing of delicate products increases the market for wrapping machine increases. Due to the need for high quality packaging with the surge in worldwide population, household income, and consumption capacity, the need of various packaged foods and drinks has augmented. This is increasing the demand for wrapping machine. It is also likely to drive the market growth as there is growing interest in differentiating different products on the market growth packaging.
Wide Range of Industry Applications of Wrapping Machine Likely to Augment Sales
Wrapping Machines are used in various industries such as healthcare, pharmaceuticals, personal care, and public professional services to attain a degree of customization with respect to handling and transporting material goods. Additionally, material goods are protected from moisture, damage, and dust by using wrapping film. It also improves the safety of the products.The control system and product handling of goods in food & beverages industry, is expected to witness high growth of wrapping machine market. Automatic wrapping machines are estimated to see higher growth than semi-automatic wrapping machines.
What are the Key Challenges that may Restrain Growth of the Wrapping Machine Market?
The wrapping machine requires a high initial investment, which is slowing the expansion of worldwide market. The wrapping machine is designed to use a plastic film that is not environmentally friendly. Banning this film could limit the market for wrapping machines.
Also, the integration of the packaging process at the end of the production line represent the threat to the rating machinery market. Advanced wrapping machine with integrated packaging process and divers operation can hamper the growth of target market.
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Who are the Key Manufacturers and Suppliers of Wrapping machine?
Some of the key players operating in the wrapping machine market are
- Robopack
- American-Newlong Inc.
- James Dawson Enterprises Ltd.
- Pyramid Packaging Inc.
- RPMI Packaging Inc.
- PackRite
- SpanTech
- Classic Packaging Corp.
- Adpak Machinery Systems Ltd
- Aetna Group S.p.A.
- Brenton
- LLC.
- FUJI PACKAGING GmbH
- Haloila Oy
- LoeschPack
- Messersì Packaging S.r.l.
- METTLER TOLEDO
- Nido Machineries
- Pieri srl
- Sampack India Private Limited.
- SPG Packaging Systems GmbH – H.Böhl
- TOSA S.p.a.
- Others.
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Wrapping Machine Market by Category
By Machine, Wrapping Machine Market is Segmented as:
- Automatic
- Semi-Automatic
By Orientation Type, Wrapping Machine Market is Segmented as:
- Vertical
- Horizontal
By End Use, Wrapping Machine Market is Segmented as:
- Food & Beverage
- Pharmaceuticals
- Consumer Product
- Automotive
- Textile
- Construction
- Chemical
By Region, Wrapping Machine Market is Segmented as:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa
- Oceania
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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