The global packaging tensioner market is poised for substantial growth, with a projected market size of US$ 1.5 billion by 2033, driven by a steady CAGR of 3.2% from 2023. The surge is attributed to the booming e-commerce and online retail sector, where efficient and secure packaging solutions are imperative.
Packaging tensioners play a crucial role in ensuring tight and secure wrapping of goods, vital for safe product transportation. As e-commerce businesses prioritize positive customer experiences and cost reduction associated with damages, returns, and dissatisfaction, the demand for packaging tensioners is expected to rise in parallel with the continued expansion and diversification of the e-commerce industry.
Request A Sample PDF: https://www.futuremarketinsights.com/reports/sample/rep-gb-15182
The Packaging Tensioner Market in the United States has witnessed remarkable growth, with the nation holding a substantial 85% market value share in 2021. This dominance reflects the robust demand for packaging solutions in the U.S., driven by the flourishing food and beverage industry. With annual food sales exceeding US$1.4 trillion, the food and beverage sector is a pivotal contributor to the nation’s economy, accounting for US$164 billion in revenue and employing 13% of the population, as reported by the Committee for Economic Development of The Conference Board.
As the food industry continues to expand, the need for efficient packaging solutions, including tensioners, becomes increasingly critical. This surging demand for innovative packaging technologies is expected to propel the U.S. packaging tensioner market to new heights in the foreseeable future. The market’s growth prospects are further reinforced by the broader packaging industry’s overall expansion in the United States, making it a pivotal sector to watch as it contributes to the country’s economic development and employment opportunities.
The market’s positive growth trajectory is driven by the increasing necessity for securing bulk products during transportation, as highlighted by FMI’s analysis, which predicts an incremental opportunity of US$609.8 million in 2022. The burgeoning demand for strapping across sectors like food & beverage and chemicals is expected to drive sales further, potentially propelling the market to 1.6 times its current value over the forecast period.
In the U.S., the packaging tensioner market grew by 1.9% YoY in 2021, with sales set to reach around US$172 million by 2022.
Rising application of packaging tensioners in food & beverages for packaging food products, healthcare products, e-commerce logistics and electronics packaging solutions will boost the market.
Besides this, growing adoption of rigid packaging in several industries is expected to create conducive environment for strapping tensioners market players. On the back of increasing demand for automatic tensioners and safer packaging solutions, the demand in the packaging tensioner market is projected to rise at a healthy rate over the assessment period.
Ask an Analyst: https://www.futuremarketinsights.com/ask-the-analyst/rep-gb-15182
Competitive Landscape
The packaging tensioner market is expected to be fragmented and very competitive. Key participants use a variety of showcasing methods, including new product launch and mergers. Most of the key players operating in the packaging tensioner market are switching towards the usage of advance packaging. Leading players similarly utilize new product development as an essential method for growing their market presence among customers. Some of the recent developments in the market are as follows:
- In Jan 2022 Samuel Packaging Systems Group announced to expand their operations in York County. The company will create an estimated twenty new jobs and investment about US$ 11.5 Mn.
- In July 2020, FROMM Packaging Systems introduced its new product named Smart S-series, 3 in 1 battery powered strapping tools. With the launch of this new series Fromm demonstrates its innovative power and quality as the market leader.
Packaging Tensioner Market by Category
By Material:
- Plastic
- Polyester
- Polypropylene
- Metal
- Steel
- Aluminium
By Operation:
- Manual
- Battery-operated
By End Use:
- Food & Beverages
- Pharmaceuticals
- Chemicals
- Building & Construction
- Agriculture
- Automotive
- Logistics & Transportation
- Homecare
- Others (Textile, Cosmetics & Personal Care)
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa
- Oceania
Request Report Methodology: https://www.futuremarketinsights.com/askus/rep-gb-15182
Report Objectives
- To analyze and forecast the global Packaging Tensioner market size in terms of value and volume
- To analyze the opportunities in the market for stakeholders and provide a competitive landscape for market leaders
- To define, describe, and forecast the market by type, material, and application
- To forecast the market size with respect to five main regions: Asia Pacific (APAC), the Middle East & Africa, Europe, North America, and South America
- To strategically analyze the micromarkets1 with respect to individual growth trends, prospects, and their contribution to the overall market
- To provide detailed information about the key factors (drivers, restraints, opportunities, and challenges) influencing market growth
- To strategically profile the key players and comprehensively analyze their market shares and core competencies
- To analyze competitive developments in the market, such as investments & expansions, new product developments, partnerships & collaborations, and mergers & acquisitions
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube