As per the comprehensive analysis conducted by ESOMAR-certified consulting firm, FMI, the global Shrink – Sleeve Wrapping Machinery market is expected to grow at a healthy CAGR during the forecast period (2022-2032). The objective of the study is to analyze key market dynamics and uncover critical trends & opportunities that will elevate the sales Shrink-Sleeve Wrapping Machinery in the coming 10 years.
Throughout the projection period, shrink-sleeve wrapping equipment sales are anticipated to expand on average at a CAGR of 5.5%. The market for shrink-sleeve wrapping equipment is anticipated to reach US$ 15.19 billion in 2022 and US$ 25.95 billion by 2032.
The report conducts in-depth analysis into factors causing the change in consumer behavior and purchasing patterns. It also provides refined sales projections to assist market players in identifying remunerative segments.
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Advent of Sustainable and Intelligent Packaging Solution Skyrocketing the Demand for Shrink-Sleeve Wrapping Machinery
With rising environmental concerns and the implementation of stringent regulations regarding the use of plastic across the U.S., China, India, the U.K., Germany, and others, a substantial rise in the adoption of sustainable packaging solutions is experienced across various end-use industries.
In accordance to this, numerous packaging companies are shifting their focus of manufacturing sustainable packaging using 100% recycled plastics, biodegradable plastics, and plastic alternatives such as paper. Hence, the introduction of novel sustainable packaging solutions is expected to create lucrative demand opportunities in the market.
Also, emergence of intelligent packaging with the integration of artificial intelligence (AI), internet of things (IoT), and data science have improved the demand for Shrink – Sleeve Wrapping Machinery market. Hence, key players are incorporating novel technologies such as AI and IoT to increase their revenues, propelling the sales.
Key Shrink – Sleeve Wrapping Machinery Market Takeaways and Projections
- The U.S. is expected to lead the North America Shrink – Sleeve Wrapping Machinery market, projecting the fastest growth in the region between 2022 and 2032
- Germany and the U.K. are expected to, collectively, hold the largest share in the Europe market over the assessment period.
- China will dominate the East Asia market, accounting for the largest demand share during the forecast period.
- India is expected to emerge as a highly remunerative market in South Asia, contributing the significant revenue share in the region through 2032.
Report Benefits & Key Questions Answered
- Shrink – Sleeve Wrapping Machinery Historical Market Analysis: The detailed survey by FMI, examines key factors in the Shrink – Sleeve Wrapping Machinery market that affected the growth in the market for the last assessment period 2016-2020 and also studies their consequent impact. It also provide refined the sales projection of the Shrink – Sleeve Wrapping Machinery market for the forecast period 2022-2032.
- Shrink – Sleeve Wrapping Machinery Demand Outlook Analysis: Future Market Insight’s (FMI’s) exhaustive study provides crucial insights into key drivers and upcoming opportunities driving the demand for Shrink – Sleeve Wrapping Machinery for the assessment period. As per the study, the demand for Shrink – Sleeve Wrapping Machinery will grow at a robust CAGR between 2022 and 2032.
- Shrink – Sleeve Wrapping Machinery Market Trend Analysis: The latest study by FMI on the Shrink – Sleeve Wrapping Machinery market offers compelling insights into key expansion strategies adopted by top-tier players with respect to current trends. It discloses details regarding upcoming trends in the packaging industry to assist market players in constructing an effective strategy to capitalize on them.
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Competitive Landscape Analysis
The market survey conducted by FMI offers key trends and challenges in the packaging industry and its consequent impact of Shrink – Sleeve Wrapping Machinery market. The survey provides a thorough market share analysis to offer an in-depth analysis of prevailing competition.
Regional analysis includes
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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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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