North America, particularly the United States, is poised to take a significant share in the shrink-wrapping machines market. In 2022, the region is expected to secure the highest market share, accounting for 21% of the global market. This strong presence is driven by a combination of factors, including technological advancements, government initiatives, and infrastructure enhancements that create efficient distribution networks.
Within this market, USA Packaging & Wrapping LLC, one of the prominent wholesale suppliers, further contributes to the robust North American market share. The region’s continuous growth in this sector underlines its capacity to meet evolving packaging needs and demands.
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The global shrink wrapping machines market size is expected to reach US$ 1,685.7 Million in 2032, to surge at 7.2% CAGR during the forecast period of 2022-2032.
Survey Conducted by Future Market Insights (FMI), a Leading Market Research and Competitive Intelligence Provider Offers Insights into Vital Dynamics Facilitating the Growth in the Global Shrink Wrapping Machines Market over the Assessment Period 2022-2032.
A detailed study on shrink wrapping machines market by FMI provides riveting insights into key dynamics, such as drivers and opportunities, facilitating the growth in the market. It uncovers challenges posing threats and highlights prospects for growth in the near future.
As per the comprehensive analysis conducted by ESOMAR-certified consulting firm, FMI, the global shrink wrapping machines market is expected to grow at a healthy CAGR during the forecast period (2022-2032). The objective of the study is to analyze key market dynamics and uncover critical trends & opportunities that will elevate the sales shrink wrapping machines in the coming 10-years.
With the demand for shrink wrapping machines intended for longer shipping periods comes to shrink wrapping machines market growth. The need for product shipping and transportation to reach a wider geographic customer base has resulted in rising demand for shrink wrapping machines, which affects the shrink wrapping machines market key trends and opportunities.
The demand for consumer goods, food, and beverages has increased as a result of rising disposable incomes among consumers in emerging economies, which is having an impact on the shrink wrapping machines market future trends. It requires less skilled labour because the shrink wrapping machines are simple to use. The low operational costs of shrink wrapping machines serve as an advantageous factor for the shrink wrapping machines adoption trends for these devices.
Key Takeaways and Projections:
- The U.S. is expected to lead the North america shrink wrapping machines market, projecting the fastest growth in the region between 2022 and 2032
- Germany and the U.K. are expected to, collectively, hold the largest share in the Europe market over the assessment period.
- China will dominate the East Asia market, accounting for the largest demand share during the forecast period.
- India is expected to emerge as a highly remunerative market in South Asia, contributing the significant revenue share in the region through 2032.
Competitive Landscape Analysis
The market survey conducted by FMI offers key trends and challenges in the packaging industry and their consequent impact of shrink wrapping machines market. The survey provides a thorough market share analysis to offer an in-depth analysis of prevailing competition.
It also provides a list of leading players and recent development in the global shrink-wrapping machines market. Some of the prominent market players are 3M Company, Texwrap Packaging Systems, ARPAC LLC, Axon, Duravant, Eastey Enterprises, Kliklok-Woodman, Massman Automation Designs, LLC, PakTech, PDC International Corp, Standard-Knapp, Inc., Tripack and Shrinkwrap Machinery Co. Ltd, Gebo Cermex.
Market Segmentation:
Based on the types of machines,
- Automatic
- Semiautomatic
Based on the end-use industry,
- Food and beverage industry
- Pharmaceutical industry
- Logistics industry
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Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
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.
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