The global flow wrap packaging market is projected to grow at a CAGR of 3.1% during the forecast period. This is expected to exceed US$ 26,996.4 million in 2022 to reach US$ 36,634.6 million by 2032.
The flow wrap packaging market is driven by several factors, including the increasing demand for convenient and easy-to-use packaging solutions, the need for extended shelf life and product protection, and the growing emphasis on sustainability and eco-friendly packaging materials. Additionally, flow wrap packaging offers several advantages over other types of packaging, including its ability to conform to different shapes and sizes, its ability to be printed with high-quality graphics and branding, and its versatility for use with a wide range of products.
In terms of equipment, the flow wrap packaging market offers a range of options, including horizontal flow wrap machines, vertical flow wrap machines, and automatic flow wrap machines. These machines can be customized to meet specific requirements, such as accommodating different product shapes and sizes, and can operate at various speeds, from a few dozen packages per minute to several hundred packages per minute.
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Major Restraints for Flow Wrap Packaging:
Increase in Production Costs: In addition to being more expensive, flow wrap machines require assembly and installation. The buyer is responsible for taking care of that task and covering the cost. The cost of the service varies based on the location of the facility and its nature. This is restraining the demand for flow wrap packaging.
Major Opportunities for Flow Wrap Packaging: Producers are spending money on R&D in order to produce a fast-flowing, fully automated wrapping machine. So, demand should increase. In addition, the companies spend money on flow wrapper R&D and advertising, which drives up demand and expands the flow wrap packaging market.
Major Threats for Flow Wrap Packaging:
Barcodes Disappear: The packaging may fall if the incorrect packaging film is selected because the packaging material shrinks automatically. Therefore, the thermal shrinking packaging film in the printing process must shrink, and bar codes can only be read if they are represented accurately, so strict quality control measures must be in place. Otherwise, the bar code quality will be unqualified or not readable after the pattern has been compressed and deformed.
Regional Insights
How is North America Key Contributor to the Global Flow Wrap Packaging Market?
North America is expected to be the key contributor to the growth of the global flow wrap packaging market accounting for 16% of the market share. Due to increased food and beverage production in North America, owing to the continued growth of these companies in the various North American regions, flow wrap machines are experiencing significant growth potential in this region. They are expected to experience even greater growth. Moreover, it is also expected that the emergence of major key players and prospects may further boost the flow wrap packaging market in the region.
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How is Europe Performing in the Flow Wrap Packaging Market?
Europe is predicted to hold a flow wrap packaging market share of 13%. European countries collectively account for most of the flow wrap packaging market as a result of their technologically advanced machinery production platforms. Automatic horizontal flow wrapping is most commonly used by medium to large bakery product manufacturers.
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