Throughout the forecast period, the market for flow wrap packaging is anticipated to expand at a CAGR of 3.1%. By 2032, this is anticipated to have increased to US$ 36,634.6 million from US$ 26,996.4 million in 2022.
Packaging material producers are attempting to address environmental issues and promote healthy living. The demand for environmentally friendly packaging is a major driver of the global flow wrap packaging industry. The ability of flow wrap machines to quickly and tightly wrap things is the reason for their popularity. These flow wrap machines are essential for packing food. Another significant development in the flow wrap packaging industry is the development of programmable and automated flow wrapping machines.
Flow wrap packaging is becoming increasingly popular since it is not only hygienic but also keeps the contents fresh. But there is a restriction on the use of flow wrap machines due to the cost of electricity. These machines need not only fuel but also supplementary electrical sources. This, in turn, could increase production costs, slowing the expansion of the flow wrap packaging market.
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Major Restraints for Flow Wrap Packaging:
Increase in Production Costs: In addition to being more expensive, flow wrap machines require assembly and installation. The buyer is responsible for taking care of that task and covering the cost. The cost of the service varies based on the location of the facility and its nature. This is restraining the demand for flow wrap packaging.
Major Opportunities for Flow Wrap Packaging: Producers are spending money on R&D in order to produce a fast-flowing, fully automated wrapping machine. So, demand should increase. In addition, the companies spend money on flow wrapper R&D and advertising, which drives up demand and expands the flow wrap packaging market.
Major Threats for Flow Wrap Packaging:
Barcodes Disappear: The packaging may fall if the incorrect packaging film is selected because the packaging material shrinks automatically. Therefore, the thermal shrinking packaging film in the printing process must shrink, and bar codes can only be read if they are represented accurately, so strict quality control measures must be in place. Otherwise, the bar code quality will be unqualified or not readable after the pattern has been compressed and deformed.
Flow Wrap Packaging Market: Competitive Landscape
The leading companies in the flow wrap packaging market include
- Robert Bosch LLC.,
- Campbell Wrapper Corporation,
- Packaging Aids,
- FUJI PACKAGING GmbH,
- Crawford Packaging, and
- Langley Holdings plc.
The manufacturer’s optimization to offer an automated and rapid flow wrapper machine is projected to improve the demand for flow wrap packaging and, consequently, the demand in the forecast term. Moreover, businesses are spending more on flow wrapper R&D and product promotion, which should help the flow wrap packaging market expand.
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Regional Insights
How is North America Key Contributor to the Global Flow Wrap Packaging Market?
North America is expected to be the key contributor to the growth of the global flow wrap packaging market accounting for 16% of the market share. Due to increased food and beverage production in North America, owing to the continued growth of these companies in the various North American regions, flow wrap machines are experiencing significant growth potential in this region. They are expected to experience even greater growth. Moreover, it is also expected that the emergence of major key players and prospects may further boost the flow wrap packaging market in the region.
How is Europe Performing in the Flow Wrap Packaging Market?
Europe is predicted to hold a flow wrap packaging market share of 13%. European countries collectively account for most of the flow wrap packaging market as a result of their technologically advanced machinery production platforms. Automatic horizontal flow wrapping is most commonly used by medium to large bakery product manufacturers.
Key Segments Profiled in the Flow Wrap Packaging Market Survey
By Material Type:
- Plastic Films
- Paper
- Aluminium Foil
- Others
By Machine Type:
- Manual
- Automatic
By End-Use Flow:
- Dairy Industry
- Meat Industry
- Pharmaceuticals
- Household and Personal Care
- Food & Beverages
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