Global Shrink Wrapping Machines Market Size predicted to grow at a 7.2% CAGR By 2032

FMI

The shrink wrapping machines market is predicted to grow at a 7.2% CAGR and reach a value of US$ 842.3 million by 2022. The shrink wrapping machines market is expected to grow to $1,685.7 million by 2032.

Shrink wrapping machine market growth is driven by the demand for shrink wrapping machines designed for extended shipping periods. The requirement for product shipping and transportation to reach a larger geographic client base has led in increased demand for shrink wrapping machines, which influences the main trends and opportunities in the shrink wrapping machines market.Consumer demand for goods, food, and drinks has surged as a result of rising disposable incomes among consumers in emerging nations, which is impacting the shrinking economy.

Find a comprehensive report summary that describes the market size and forecast along with the research methodology. The Sample report is available in PDF format https://www.futuremarketinsights.com/reports/sample/rep-gb-3268

Recent Development:

Partnership:

  • A partnership agreement between Standard-Knapp, Inc. and EoL Packaging Experts (EoL), a global provider of end-of-line packaging solutions for the food and beverage sector, was signed in August 2019. With a recognised presence in both America and Europe, the merger could produce a globally active industry leader for end-of-line packaging equipment and systems.

Acquisition:

  • Aetnagroup acquired OCME in May 2019. In order for AETNA GROUP to maximise the technical, industrial, and commercial synergies to meet new challenges, the consolidation strategy of the two industrial companies, ROBOPAC AND OCME, has been put into place.

Key Players

  • 3M Company
  • Texwrap Packaging Systems
  • ARPAC LLC
  • Axon
  • Duravant
  • Eastey Enterprises
  • Kliklok-Woodman
  • Massman Automation Designs, LLC
  • PakTech
  • PDC International Corp
  • Standard-Knapp, Inc.
  • Tripack and Shrinkwrap Machinery Co. Ltd
  • Gebo Cermex.

Ask an Analyst @ https://www.futuremarketinsights.com/askus/rep-gb-3268

What are the Growth Propellers in the Shrink Wrapping Machines Market?

Shrink wrapping machines provide configuration functionality to handle different products’ packaging needs. One of the main factors driving the shrink wrapping machines market opportunities is the machines’ capacity to shrink-wrap items of various shapes and sizes with varying levels of complexity as a function of size, volume, and speed.

The shrink wrapping machines market has benefited from technological advancements that have increased the speed and efficiency of the machines, creating lucrative shrink wrapping machines market opportunities. The cost of secondary packaging has significantly decreased thanks to shrink wrapping, which has also increased demand for shrink wrapping machines leading to the sure in the sales of shrink wrapping machines.

Shrink Wrapping Machines Market: Market Dynamics 

The growth of the shrink wrapping machines market is correlated with the demand for packaging products meant for longer shipping period. The demand for transportation and shipping of products to cover expanded geographic customer base, has led to growing demand for shrink wrapping which influences the demand for shrink wrapping machines market. 

Currently the shipping volume around the world is about 10 billion tons. The increase in the disposable income of the consumers in the emerging economies has led to the increase in demand for consumer goods, food and beverage market which is influencing the shrink wrapping machines market. The shrink wrapping machine is easy to operate which reduces the requirement for skilled personnel. 

Further shrink wrapping machines have low operational cost that act as favorable factor driving the shrink wrapping machines market. 

Shrink wrapping machines offer configuration functionality that address packaging requirements of varied products. The ability of the shrink wrapping machines to wrap products of different shapes and sizes with varying level of complexity depending upon size, volume and speed is a key factor benefiting the shrink wrapping machines market. 

However the shrink wrapping machines requires high initial investment and it is a key factor restraining the proliferation of the shrink wrapping machines market. Shrink wrapping machines are designed for the use of plastic films which is a non-ecofriendly material. Ban on such films may limit the shrink wrapping machines market. 

Expand operations in the future – To get requisite details, ask for a custom report. https://www.futuremarketinsights.com/customization-available/rep-gb-3268

Shrink Wrapping Machine Market- Regional Outlook 

In the backdrop of upsurge industrialization and other economic factors in the APEJ region, growth in over the forecasted period shrink wrapping machine market in APEJ region is expected to be followed by North America. The Eastern Europe and Western Europe region is also expected have growth in shrink wrapping machine market over the forecasted period due to escalating packaging requirement for the meat & processed food products. Shrink wrapping machine market is at an introductory stage in MEA region.  

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.

Contact Us:

Future Market Insights Inc.

Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
LinkedInTwitterBlogs | YouTube
For Sales Enquiries: sales@futuremarketinsights.com

About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may also like these