The global wrapping machine market is anticipated to reach a value of US$ 3.2 billion in 2023 and continue to grow at a CAGR of 3.7% to reach US$ 4.6 billion by the year 2033, according to research from Future Market Insights. With the top 5 businesses predicted to control roughly 15% of the market in 2022, wrapping machine sales are predicted to increase.
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 anticipated to increase by 1.4 times between 2023 and 2033.
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The Advent of Sustainable and Intelligent Packaging Solution Skyrocketing the Demand for Wrapping Machine Market
With rising environmental concerns and 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 focusing of manufacturing sustainable packaging using 100% recycled plastics, biodegradable plastics, and plastic alternatives such as paper. Hence, 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 Wrapping Machine Market market. Hence, key players are incorporating novel technologies such as AI and IoT to increase their revenues, propelling the sales.
Key Wrapping Machine Market Market Takeaways and Projections
- The U.S. is expected to lead the North America Wrapping Machine Market market, projecting the fastest growth in the region between 2023 and 2033
- 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 2033.
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Report Benefits & Key Questions Answered
- Wrapping Machine Market Historical Market Analysis: The detailed survey by FMI, examines key factors in the Wrapping Machine Market 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 Wrapping Machine Market market for the forecast period 2023-2033.
- Wrapping Machine Market Demand Outlook Analysis: Future Market Insight’s (FMI’s) exhaustive study provides crucial insights into key drivers and upcoming opportunities driving the demand for Wrapping Machine Market for the assessment period. As per the study, the demand for Wrapping Machine Market will grow at a robust CAGR between 2023 and 2033.
- Wrapping Machine Market Market Trend Analysis: The latest study by FMI on the Wrapping Machine Market 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.
Competitive Landscape Analysis
The market survey conducted by FMI offers key trends and challenges in the packaging industry and its consequent impact of Wrapping Machine Market market. The survey provides a thorough market share analysis to offer an in-depth analysis of prevailing competition.
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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 (MEA)
- Oceania
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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