The global bundling machine market is anticipated to accumulate a value of US$ 6.9 billion by 2032, with the market growing at a robust CAGR of 10.4% from 2022 to 2032. Valued at US$ 2.4 billion in 2021, the target market scaled up to US$ 3.7 billion in 2022. Factors like continuous development in automation techniques due to the increasing adoption of upstream manufacturing processes and packaging machines are accountable for the rapid growth of the bundling machine market during the forecast period.
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Bundling machines are used in one wrap packaging process and are used for the packaging of a wide variety of products. Bundles like shrink films, stretch films, films made from cast or blown films, and others are used in this machine. These films can also be multi-layer or mono-layer films which are usually used as per the strength or barrier requirement in a specific packaging process.
During the forecast period, the market for the bundling machine market will observe substantial growth. The introduction of the Overall Equipment Effectiveness (OEE) technique and lean packaging operation is projected to have a positive impact on the growth of the bundling machine market. Lean packaging operation will enable easy standardization of machinery and is expected to provide benefits like easy maintenance and troubleshooting. This aspect along with a thriving e-commerce sector, particularly for packaged food and beverages, all over the world will spearhead the growth of the bundling machine market.
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Bundling machines are gaining application across a wide range of applications including containers, plies, cartons, corrugated boxes, and many others. These machines are convenient and ensure greater efficiency in the shipping of the products which augurs well for the market. Furthermore, bundling machines enable bulk storage which lessens the overall cost and these machines are a preferred option for manufacturers who chose functionality over appearance. All of these considerations are expected to propel the bundling machine market forward during the forecast period.
Key Takeaways:
- Escalating usage of strapping machines, high costs, and implementation of strict import and export regulations will likely hamper the growth of the bundling machine market during 2022 and 2032.
- Benefits of using bundling machines such as the provision for bulk storage, convenience, and reduced costs are expected to strengthen market prospects.
- North America will hold the largest share of the bundling machine market owing to high demand in the beverages sector, particularly in the USA.
- Increasing demand for consumer goods will present the Asia Pacific as a lucrative pocket for the bundling machines market.
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Competitive Landscape
American Packaging Machinery, Inc., Polychem Corporation, Cyklop Nederland B.V., Mosca GmbH, Arpac LLC, Felins, Inc., Promach, Inc., EDL Packaging, Inc., and SS Automation & Packaging Machinery among others are some of the key players in the bundling machine market profiled in the full version of the report.
Leading market players are concentrating on product development and innovation with automation of bundling machines being a focal point. Manufacturing manual machines suitable for consumer needs also play a vital role. These enterprises also employ various organic and inorganic strategies to expand their consumer base.
More Insights into Bundling Machine Market
In its latest report, FMI offers an unbiased analysis of the global bundling machine market, providing historical data from 2015 to 2020 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of substrate material, technology, end-use, and region.
According to the latest FMI reports, based on segmentation, food and beverages and consumer goods end-use segments are expected to account for the high demand for bundling machines. These sectors are predicted to contribute substantially to the overall market growth.
Based on region, the bundling machine market in North America will display remarkable growth during the assessment period. The target market in this region will account for the largest portion of the market share. Increasing demand for bundling machines from the beverage sector, especially from the US, and market activities by manufacturers will drive the growth of the bundling machines market in North America. Besides North America, Asia Pacific will also emerge as a remunerative market for bundling machines during this period of observation.
In short, the benefits of using a bundling machine and growing demand across multiple industrial verticals will fuel the expansion of the bundling machine market size during the forecast period.
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