Food & Beverages Industry Considers Stretch Wrappers Crucial for High Quality and Cost-effective Packaging: FMI
Effective packaging is considered imperative across industries since their revenue wholly depends on the conditions of the product delivered. Millions of dollars have been spent by various manufacturers over the last few decades in the research and development of innovating new technologies, which will help reducing the use of manual labor. According to Future Market Insights (FMI), focus on advanced packaging techniques will rise in the future, paving way for the expansion of the stretch wrappers market.
Stretch Wrappers Market
A recent market report published by Future Market Insights on the stretch wrappers market ...
With the introduction of robotic arms in the packaging industry, manufacturers are nowadays seeing a rise in efficiency with a reduction in labor costs. The technology can also help the save time. As more businesses recognize the advantages of advanced technologies, the demand for stretch wrappers will rise, enabling the market to exhibit a CAGR of 5.8% in terms of value between 2021 and 2031.
Some of the most celebrated companies operating in the market are eyeing on existing opportunities. For instance, with its SILKWORM, a patented robotic stretch wrapper technology and an output ranging from 85 to 200 pallets/hour, BEMA S.r.l. has become an established reality in the international market. It has truly modernized the concept of stretch wrapping.
Investment in technological upgrades will continue rising, as the demand for stretch wrappers grows in food & beverages, pharmaceuticals, and tissues industries. As per FMI, the food and beverages sector will remain the chief end user, especially since ensuring that hygienic and quality food reaches consumers is of paramount importance.
Key Takeaways from Stretch Wrappers Market
- Stretch wrappers market will consistently expand to reach a valuation of US$ 710 Mn by 2031
- Focus on automation will fuel the demand for robotic stretch wrappers across industries in the U.S.
- The expanding pharmaceutical sector of the U.K. will emerge as a key end user
- Germany and France will remain highly lucrative markets for stretch wrappers sales within Europe. Rising demand for effective food and pharmaceutical packaging will aid growth
- China’s bustling food service sector will present a highly attractive market for stretch wrappers sales
“As a result of industries inclining towards the adoption of atomized packaging systems, the demand for stretch wrappers will rise. Choosing the right stretch wrapper can enhance customer satisfaction as well as help businesses save cost incurred on packaging processes. With more businesses realizing these benefits, the demand for stretch wrappers is expected to rise,” says FMI analyst.
Automatic Stretch Wrappers Become Highly Sought-after to Prevent Damage in Transit
The packaging sector has expanded over the last couple of years to provide better solutions to its clientele. However, a few millions of dollars of losses are incurred to the product manufacturers every year due to poor packaging in transit, which causes a tremendous effect on profit margins. Most destruction occurs as trucks springs down the roads during turbulent journeys and loads are transported between trucks at storehouses or distribution centres.
Wrapping food and pharmaceutical products with the right quantity of stretch wrap films is the best safety against in-transit load crashes. Automatic stretch wrappers can be an operative equipment to preserve high-value goods on the pallet and accurately labelled for distribution.
By firmly wrapping the loads, automatic stretch wrappers can easily protect the products against lengthy transit damages. Also, these automatic stretch wrappers helps in consuming lesser stretch film and helps in keeping lightweight structure of the pallet. Due to which, now extra loads will carried while prolonged road transportations.
Impact of COVID-19 on Stretch Wrappers Market
Post COVID-19, stretch wrappers market is projected to gain its pace, as the industries are set to begin operations as per stringent guideline by various governments. However, restrictions imposed amid COVID-19 have negatively affected the market, resulting in declining growth. The Y-o-Y growth rate in the year 2020 end has been reduced by nearly 1.6% compared to 2019.
Moderate negative influence in the demand for stretch wrappers among food & beverage industries is witnessed, due to troubles in the down supply chains. Contrary to this, increase in business of pharmaceutical products amongst various regions has been observed in the last quarter of 2020 and the first quarter of 2021.
Moreover, e-commerce industry is booming amid the COVID-19 pandemic. Manufacturers and distribution centres are competing to meet demand. This will offer attractive opportunities for sales, as stretch wrappers are used serving customers with for wrapping of products for e-commerce.
Stretch Wrappers Market Landscape
Signode Industrial Group, LLC, Lantech, Inc., BEMA SRL, Technowrapp srl, Aetnagroup S.p.A., FROMM Group, Millwood, Inc. Phoenix Wrappers, Inc., Reo-Pack A/S, Orion Packaging Systems LLC. Wulftec International Inc., ARPAC LLC, Cousins Packaging, Inc., UNITECH SRL, Innova Maquinaria Industrial S.L, Tosa spa, DNC packaging Machinery, Movitec Wrapping Systems, SL, Strema B.V., PAGLIERANI s.r.l., Matco International Gevelsberg GmbH, Messersì Packaging S.r.l., ATECMAA PACKAGING, Rees Machinery Group Ltd, Hangzhou Youngsun Intelligent Equipment Co., Ltd., K M Trivedi Engineering Pvt. Ltd., Easypac Systems, Multi Pack Machinery Company, and PACKWAY INC are the prominent players in the stretch wrappers market.
The Tier 3 players in the market hold 50-60% in the global stretch wrappers market. In conclusion, key players contribute almost 40-50% of the global demand.
Stretch Wrappers Market Report
Future Market Insights, in its new report, offers an unbiased analysis of the global stretch wrappers market, analyzing historical demand from 2015-2020 and forecast statistics for 2021-2031. The study reveals growth projections on the stretch wrappers market on the basis of machine type (turntable, ring, robotic, and rotary arm), order type (standard and customized), end use (food & beverages, pharmaceuticals, and tissue) across seven regions.
About Packaging Division at Future Market Insights
The Packaging division at FMI provides an in-depth historical analysis and granular projections of the global packaging market. Ranging from packaging materials to designs & formats, FMI has an exhaustive market research database, serving clients with unique offerings and strategic recommendations. With a repository of 750+ reports, the team analyzed the packaging industry comprehensively in 70+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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