Through 2032, the overwrapping machines market is expected to grow at a CAGR of 4%. The overwrapping machines market is expected to reach a valuation of US$ 1.63 billion by 2032, up from its current valuation of US$ 1.1 billion in 2022.
Attributes
Details
Overwrapping Machines Market (CAGR)
3.8% CAGR
Overwrapping Machines Market (2022)
US$ 1.2 Billion
Overwrapping Machines Market (2032)
US$ 1.8 Billion
Various manufacturers focus on organic growth strategies such as product launches, product approvals, and other tactics such as patents and events. Acquisitions, partnerships & collaborations included the inorganic growth strategies witnessed in the overwrapping machines market.
These activities have opened up the opportunity for market players to expand their business and customer base. With the increasing demand for overwrapping machines in the global market, market players in the overwrapping machines market are expected to reap lucrative growth opportunities in the near future.
Multinational corporations in North America, Europe, and other developed regions control a sizable portion of the global overwrapping machines market. Major manufacturers are expected to relocate production to developing regions such as Asia Pacific, Central, and South America, the Middle East, and Africa. This move is aimed at expanding their sales and service network in these regions, allowing them to expand their overwrapping machines market share.
The frontrunner in the development, design, manufacture, and supply of overwrapping machinery solutions has shown an unconventional approach and an impressive record for quality and performance, enabling their business to expand dramatically.
Making component suppliers trade alliances and incorporating a manufacturer-agnostic approach to machine control concepts. Overwrapping machines market players add value by leveraging cutting-edge technology and innovating logistics and engineering efficiency, lowering advancement costs and boosting production efficiency.
The leading provider of overwrapping machines has announced acquisitions. The companies have agreed to collaborate to provide customers and end users with affordable, safe, and financially viable packaging solutions.
The innovation and technology leader has revealed the launch of a complete innovation in filling technology. To help speed up the process, these are deemed the world's fastest filling machines for family-size carton packs.
Leading companies wrap up the acquisition of another leader in technology. This operation is part of a strategic strategy designed to grow peripherally, establish a manufacturing presence in countries with a manufacturing vocation, and broaden the product array in the food and personal care sectors. Thereby reaping the benefits of the existence of its subsidiaries in the main economies to strengthen the technology leader's internationalization.
Companies are investing heavily in improving their R&D capabilities and focusing on acquiring appropriate market insights and consumer trends that contribute to developing business strategies. Such measures can provide businesses with a competitive advantage over their competitors.
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Overwrapping Machines Market Overview
Overwrapping is a mean to improve product presentation and also a way to enhance the shelf life of a product or to preserve its freshness. There are several features associated with overwrapping machines that makes it an attractive option for a wide range of industries.
An overwrapping machine is a type of packaging machine which wraps a flexible packaging material like heat sealable film or paper and automates the wrapping process. Overwrapping is characterized by envelope style end-folding. An overwrapping machine folds the heat sealable film around a product that has to be wrapped. The folded film is closed by using heated sealing devices. The product can be in bundle or even a single product.
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.
All the mentioned advantages of overwrapping fuels the growth in the overwrapping machines market. The growth in pharmaceutical industry across the globe is also expected to accelerate the growth in the overwrapping machines market, as the growing concerns related to recent contamination of pharmaceutical products has led to overwrapping of blister carton products and hence the growth in the overwrapping machines market.
However, the initial high investments in the machinery and related capital costs can act as a hindrance in the overwrapping machines market.
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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 - 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.
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The report covers exhaustive analysis on
Market Segments
Market Dynamics
Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies involved
Technology
Value Chain
Regional analysis includes
North America (USA, Canada)
Latin America (Argentina, Brazil, Mexico and Rest of Latin America)
Western Europe (Germany, France, Italy, UK, Spain, Benelux, Rest of Western Europe)
Eastern Europe (Poland, ,Russia, Rest of Western Europe)
Asia Pacific (China, ASEAN, Australia & New Zealand, Rest of APEJ)
Japan
Middle East and Africa (GCC, S. Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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:
