The market for overwrapping machines is anticipated to expand at a CAGR of 4% through 2032. By 2032, the overwrapping machine market is anticipated to have grown from its present valuation of US$ 1.1 billion in 2022 to US$ 1.63 billion. Product launches, product approvals, and other methods like patents and events are among the organic growth strategies that different manufacturers emphasise. The overwrapping machines market saw inorganic growth techniques such as acquisitions, partnerships, and collaborations.
Market participants now have the chance to grow their clientele and businesses thanks to these efforts. Market participants in the overwrapping machines market should soon benefit from lucrative growth prospects due to the rising demand for overwrapping machines on the worldwide market.
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Overwrapping Machines Market – Key Players
Some of the leading players identified across the globe in the overwrapping machines market are:
- Sollas Holland BV,
- Marden Edwards Ltd,
- Aetnagroup S.p.A.,
- I.M.A. Industria Machine Automatiche S.p.A.,
- CHIE MEI ENTERPRISE CO., LTD,
- The Platinum Package Group,
- KÖRA-PACKMAT Maschinenbau GmbH etc.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications.
Overwrapping Machines Market Dynamics
The overwrapping machines market is expected to witness a healthy growth because of several factors. The wrapping process involves low material costs and low energy costs which makes this product very cost effective and therefore drives demand in the overwrapping machines market. There are several benefits associated with these machines which makes it a preferred way of packaging as compared to other forms of packaging.
Overwrapping helps in providing on pack promotion with printed film, which enables marketing and promotional messages to be conveyed easily without any labeling or coding. In addition, the print registration system on these machine also ensures that the print is correctly positioned at all times.
The wrapping through these machines are easy to open without tear, have no heat radiation, these machines have low maintenance cost, easy to handle and are flexible. Furthermore, unlike shrink-wrapping, this type of packaging does not result in waste of excess film during the wrapping process and also overwrapping machines offer hermetic seal and aroma control which provides good barrier and prevents cross contamination.
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Overwrapping Machines Market – Regional Outlook
Geographically, the overwrapping machines market can be segmented into North America, Latin America, Europe, Asia-Pacific (APAC) and Middle East & Africa (MEA). The global market for overwrap packaging market witnessed rapid growth in last few years.
The Asia-Pacific market is expected to witness maximum growth rate in the global overwrapping machines market primarily driven by the rising middle-class population with high disposable income, and increasing demand for convenient packaging in countries like India and China.
Further, smaller companies in the developing economies of Asia Pacific are expected to automate their packaging processes for increased efficiency and productivity which will further boost the demand in the overwrapping machines market in the region. North America and Europe are expected to witness an above average growth in the overwrapping machines market over the forecast period.
Overwrapping Machines Market Segmentation
On the basis of application, the global overwrapping machines market is segmented into:
- Consumer goods
- Medical
- Food and Beverage
- Apparel
- Others
On the basis of packaging type, the global overwrapping machines market is segmented into:
- Case
- Film
- Cartons
- Bags
- Cans
- Others
On the basis of packaging material, the global overwrapping machines market is segmented into:
- Plastic
- Paper
- Wood
- Glass
On the basis of technology, the global overwrapping machines market is segmented into:
- Manual
- Electric
- Automatic
- Semi-automatic
On the basis of sealing technique, the global overwrapping machines market is segmented into:
- Heat
- Hot melt
- Glue
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