Global Wrapping Machine Market - 2021-2028

Global Wrapping Machine Market - 2021-2028

Market Overview

Wrapping machines are utilized to wrap boxes in stretch film, to maintain the quality and safety of the products and make sure elevated manufacturing rates of the packaging industry. The wrappers are available in different forms such as vertical, ring, rotatory or still, and orbital wrappers. These machines are utilized in several industries including healthcare, personal care, public professional services, and pharmaceuticals to achieve a degree of customization with regard to transporting and handling material goods. Furthermore, material goods are sheltered from damage, dust, and moisture by utilizing wrapping film. they also enhance the safety of the material and products. Moreover, wrapping machines can cover a product partly or can enclose it entirely, by utilizing a variety of folding and sealing operations. The global wrapping machine market is valued at USD XX million in 2020 and is estimated to reach USD XX million by 2028, growing at a CAGR of XX% within the projected years (2021-2028)

Market Dynamics: The increasing demand from the food and beverage industry is expected to drive the market growth

The increasing demand from the food and beverage industry, owing to growing household income, the increasing population, and growing spending ability, has boosted the demand for a broad variety of packaged food and beverage goods. This is increasing the growth of the wrapping machine market. Furthermore, the increasing concentration on distinguishing numerous products in the marketplace by packaging is estimated to push market growth. Furthermore, The food industry is one of the foremost sectors that are estimated to impel the demand for the wrapping machine market. Increasing infrastructural developments, speedy industrialization, and rising investments, particularly in the food and beverage sector, are a few factors likely to enhance the demand for wrapping machines in the upcoming years. Moreover, rising demand for convenience food products, increasing demand for ready-to-eat, along with dairy, and other consumable products are expected to favor the growth of the market.

Market Segmentation: The stretch segment, holding about XX% of the global market

By machine type, the stretch segment is the largest revenue contributor segment for the global wrapping machine market in 2020 and is estimated to be the largest segment in the upcoming years. This is due to the stretch wrapping machines having to exhibit significant growth than the shrink machine segment. Moreover, stretch wrapping machines utilize stretchable plastic film for the cover over a product to keep it tightly. They are primarily utilized for load unitization. characteristics, features and increasing demand for the machine from a various range of uses are factors likely to drive the growth of the stretch segment in the upcoming years. Moreover, stretch wrapping machines provide ease and convenience in wrapping parcels, boxes, containers, and other packages for transportation and storage is also expected to enlarge the demand for stretch machines over the projected years.

Geographical Penetration: Asia Pacific is the largest market for wrapping machines with a share of nearly XX% in global sales value in 2020

By geography, the Asia Pacific region is anticipated to account for substantial market share in terms of value as well as volume in the global wrapping machine market, due to the development of the food and beverage and pharmaceutical sector in the region is predicted to boost demand for wrapping machine in the region. Furthermore, developing countries in the region, including India and China have exhibited a substantial rise in production activities, which is further expected to show a positive impact on the market growth. North America is estimated to exhibit lucrative growth the for wrapping machine market in the upcoming years, owing to the favorable government policies, technological advancements, and infrastructural expansion provides strong distribution channels are estimated to prompt regional growth.

Competitive Landscape:

The global wrapping machine market is highly competitive with many formulators. Some of the market’s major players include Duravant LLC, ProMach, Inc., Robert Bosch GmbH, Coesia S.p.A., Aetnagroup S.p.A., IMA Group., Lantech, Maillis Group, Brenton, LLC., among others. They have strengthened the market through their product offerings. Continuous innovation to introduce new products with functional benefits is the key competitive factor in the market. For instance, in October 2021, Duravant LLC has announced a significant investment from funds led by global investment firm Carlyle, and continued partnership with Warburg Pincus, a leading global growth investor.

COVID-19 Impact: The market witnessed a negative impact

The global packaging industry has yet again been negatively impacted by the onset of the second wave of COVID-19 and the outlook is volatile. After the second wave of the pandemic, several countries’ governments and local authorities had imposed lockdowns to contain the spread of COVID-19 and restrictions started to lift from June in several countries. Covid-19 again hit the global market for packaging during the second and third COVID wave at the start of the 2021 year, which is again negatively impacted, and the outlook is volatile. Manufacturing activities have been hampered in several regions due to the regulation imposed by various governments which impacted transport. The packaging activity is back to normal condition after lockdown across the globe. Pandemic mainly hampers the food and beverages industry which is badly hit to packaging industry as well. The influence of COVID-19 is a lot higher on the developed countries, the multination firms would focus their strategies and energies more on these countries as compared to the poor and developing countries.

Why Purchase the Report?
Understand the current market scenario and viability of global wrapping machine over the forecast period
Visualize the composition of the global Wrapping machine market in terms of product type and application to identify major players, growth potential, and market strategies
Identify the key regulations prevailing in the market and understand their impact on the market over the forecast period
Understand the key business factors such as market competition, product pricing, new product developments, and patent filings pertaining to the market

What we offer?
PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study
Excel data sheet with valuable data points of the global Wrapping machine market Regional and Country level segmentation
Product mapping in excel for the key products of all major market players
Market Share Analysis covering business revenues ($) and revenue share (%) of key market players

Target Audience:
Wrapping Machine Manufacturers
Packaging Industry
Food and Beverages Industry
Industry Investors/Investment Bankers
Education & Research Institutes
Research Professionals