The global bundling machine market size is expected to be valued at US$ 3.7 Billion in 2022 and US$ 6.9 Billion in 2032. It is set to exhibit growth at a CAGR of 10.4% in the forecast period from 2022 to 2032. The ongoing development of numerous automation techniques owing to the integration of upstream manufacturing processes and packaging machines is likely to push the sales of bundling machines in the evaluation period.
Bundling machines are specially used for the packaging of a wide range of products in one wrap. Various types of bundles are utilized in these machines, including shrink films, stretch films, and films made from cast or blown films.
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These can also be multi-layer or mono layer films, which are often used as per the barrier or strength required in a particular packaging process. The emergence of the Overall Equipment Effectiveness (OEE) technique and lean packaging operation is expected to augur well for the global bundling machine market growth in the forthcoming years.
The standardization of machinery is set to become an easy task with the introduction of lean packaging operation. It provides a wide range of benefits, such as ease of maintenance and troubleshooting. The flourishing e-commerce sector and the high demand for packaged food and beverages across the globe are two of the major factors that are estimated to drive the market.
Which are Some Prominent Drivers Spearheading Bundling Machine Market Growth?
The increasing usage of bundling machines for several types of applications, such as containers, plies, cartons, corrugated boxes, and other packages is estimated to bode well for the market. The ability of these machines to surge the convenience, as well as the overall efficiency of the shipping of products is also set to accelerate the bundling machine market size.
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These machines enable bulk storage of products, thereby reducing the cost. The rising utilization of these machines for wrapping purposes by those manufacturers who prefer the functionality of packaging more than its appearance is estimated to augment the market.
What are the Challenges Faced by the Bundling Machine Industry?
The increasing usage of strapping machines can result in the declining demand for bundling machines across the globe in the upcoming years. These machines are set to be increasingly used for handling aids, load security, bundling, and closing applications.
In addition, various emerging economies, such as Argentina and India are expected to face difficulties associated with the importing of packaging machinery owing to the imposition of taxes by custom duty. The high cost of these machines is likely to obstruct the growth in this market as many small-scale companies may not be able to afford them because of the lack of finances.
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Why is North America emerging as an Opportunistic Bundling Machine Market?
North America is anticipated to generate the largest bundling machine market share throughout the forthcoming years. The high demand for these machines in the beverage industry, especially in the U.S. is expected to push the market.
The increasing number of new beverage launches by key players and the rapid shift of consumers towards functional and organic beverages are likely to drive the market in North America. The expansion of the retail network is another vital factor that is set to positively affect the regional market.
How is Asia Pacific Contributing to Growth of the Bundling Machine Market?
The high demand for packaged consumer goods stoked by the surging household spending capacity and the ever-increasing population in India and China is expected to augment the Asia Pacific bundling machine market growth in the near future. The rapid expansion of the personal care and pharmaceutical sectors in this region is also projected to drive the market.
Favorable government policies related to energy savings and equipment upgradation, as well as improving standards of safety, food processing, and packaging technologies in multiple countries of Asia Pacific would bode well for the market. The surging demand for ready-to-eat meals owing to the fast-paced life in developing countries is another factor that is expected to propel the market.
Market Competition
Some of the leading companies present in the global bundling machine market are American Packaging Machinery, Inc., Mosca GmbH, Polychem Corporation, Cyklop Nederland B.V., Arpac LLC, Promach, Inc., EDL Packaging, Inc., Felins, Inc., and SS Automation & Packaging Machinery among others.
Majority of the manufacturers operating in the global market are focusing on the development of automatic bundling machines that can make various packaging procedures easy. Some of the other key players are aiming to come up with manual machines for meeting numerous customer requirements. Meanwhile, a few other firms are striving to broaden their pre-existing portfolios to generate more sales and attract a large customer base globally.
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