The global packaging tensioner market is set to enjoy a valuation of US$ 1.0 Bn in 2022, and expand at a CAGR of 4.8% to reach US$ 1.6 Bn by 2032. Top 3 countries in the global packaging tensioner market is estimated to hold around 30-35% of revenue share in 2022.
In terms of material, the plastic segment of the packaging tensioner market grew a robust 2.7% year-over-year in 2021. Demand for metal segment increased at 1.8% CAGR between 2020 and 2021, according to the study.
The consumption of manual packaging tensioner segment saw soaring growth in 2021 with worldwide demand up 3.2% year-over-year. A new forecast by Future Market Insights (FMI) estimates that manual packaging tensioner revenues will nearly 1.6 times between 2021 and 2025 with a five-year compound annual growth rate (CAGR) of 3.0%.
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The packaging tensioner market is estimated to witness a positive growth with increasing need for securing the bulk products during transportation. A new forecast by FMI analysis anticipate that the packaging tensioner market will create an incremental $ opportunity of US$ 609.8 Mn in 2022.
Surge in demand for strapping among various industries such as food & beverage, chemical, and others is anticipated to fuel the sales of packaging tensioner. The packaging tensioner market is projected to grow 1.6 times the current market value during the forecast period.
In 2021, the U.S. packaging tensioner market grew by 1.9% year-on-year, with total sales of packaging tensioner expected to reach US$ 172 Mn through 2022.
The overall packaging tensioner market grew at a CAGR of 2.1% over the historic period of 2015 to 2021. Growing need for safe shipping of the various products and rising demand for strapping in the e-commerce industries is aiding the growth in the packaging tensioner market.
As per Future Market Insights (FMI), the packaging tensioner market is slated to grow at a CAGR of 4.8% over the forecast period (2022-2032). Plastic tensioners are used for various industrial and commercial uses due to safety benefits as it is safer to handle than steel tensioner and is cost-effective when used as an alternative to steel tensioning.
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The Major Key Players Are:
- FROMM Packaging Systems
- Dynaric, Inc.
- North Shore Strapping Inc.
- Samuel Packaging Systems Group
- Transpak Equipment Corp
- Tiger Pack, Inc.
- Venus Hartung Pty Ltd.
- Wenzhou Zhenda Packing Machine Co., Ltd.
- Sal-Tech Easy Packaging
- Yang Bey Industrial Co., Ltd.
Rising application of packaging tensioners in food & beverages for packaging food products, healthcare products, e-commerce logistics and electronics packaging solutions will boost the market.
Besides this, growing adoption of rigid packaging in several industries is expected to create conducive environment for strapping tensioners market players. On the back of increasing demand for automatic tensioners and safer packaging solutions, the demand in the packaging tensioner market is projected to rise at a healthy rate over the assessment period.
Packaging Tensioner Market by Category
By Material:
- Plastic
- Polyester
- Polypropylene
- Metal
- Steel
- Aluminium
By Operation:
- Manual
- Battery-operated
By End Use:
- Food & Beverages
- Pharmaceuticals
- Chemicals
- Building & Construction
- Agriculture
- Automotive
- Logistics & Transportation
- Homecare
- Others (Textile, Cosmetics & Personal Care)
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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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