Box and Carton Overwrapping Machines Market Analysis: High Demand for Consumer Appealing Packaging to Boost Sales of Overwrapping Machines
The global box and carton overwrapping machines market is estimated to be valued at nearly US$ 912 Mn in 2018 and is projected to expand at a CAGR of 4.0%, during the forecast period (2018 - 2028).
Box and carton overwrapping machines are packaging systems tasked with wrapping films around boxes and cartons. Overwrap films for boxes and cartons serve the purpose of protection from moisture and external elements, as well as enhance pack optics through transparency and clarity, thereby boosting the demand for box and carton overwrapping machines.
Box and Carton Overwrapping Machines Market: Manufacturer Preferences
Manufacturers of box and carton overwrapping machines are focusing on the production of packaging machinery which can seal boxes and cartons giving them an aesthetic appeal. Box and carton overwrapping machines are being produced to be compatible with multi-pack wrapping capabilities. In addition, box and carton overwrapping machines are being fitted with cutters which enable smooth film cutting, leading to seamless sealing.
Manufacturers of box and carton overwrapping machines are also providing an array of substrate options to choose from, ranging from BOPP to cellophane, which is expected to boost demand for box and carton overwrap machines market. The wrapping process incurs low material costs, thereby driving the demand for box and carton overwrapping machines.
Box and Carton Overwrapping Machines: Market Categories
The global box and carton overwrapping machines market has been segmented on the basis of product type and end use. While the product type covers manual, semi-automatic, and automatic machines, the end-use segment encompasses the food, beverage, healthcare, and personal care & cosmetics industries, among other industries served by box and carton overwrapping machines.
Box and Carton Overwrapping Machines Market: Drivers
Growth in the Manufacturing Sector: A Key Driver for the Box and Carton Overwrapping Machines Market
The box and carton overwrapping machines market is characterized by the presence of a number of companies, ranging from small-scale to tier-1 players. Most of the companies manufacturing box and carton overwrapping machines are located in China.
This is made possible by dedicated efforts by the local government in the country to promote growth in the manufacturing sector. The Made-in-China campaign encourages the use of products manufactured locally, and is expected to be a significant contributor to the growth of the box and carton overwrapping machines in China.
China also happens to have the largest share of manual box and carton overwrapping machines. Similarly, in terms of machinery production, countries such as the USA and Germany have been in the leading positions for years, made possible by an established manufacturing sector, which, in turn, fuels the box and carton overwrapping machines market.
Therefore, it is clear that growth in the manufacturing sector will play a critical role in increasing the production of box and carton overwrapping machines market across the globe, as the penetration of packaging automation increases over time.
Box and Carton Overwrapping Machines Market: Increasing Packaging Efficiency Through Advanced Packaging Technologies
Adoption of box and carton overwrapping machines eliminates the need to constantly hire and train a new workforce. Although box and carton overwrapping machines require heavy investment, they are useful in tackling the problems generated by high labor costs and lack of skilled labor. The ultimate goal of box and carton overwrapping machines manufacturers is to focus on ways to help their customers reduce labor costs and achieve higher production outputs in minimum time.
This is expected to be a significant driver for the growth of the global box and carton overwrapping machines market as enterprises with profitable businesses look for ways to reduce costs and achieve a better bottom line. Therefore, the outlook for growth of the box and carton overwrapping machines market is expected to be positive during the forecast period.
Box and Carton Overwrapping Machines Market: Key Findings
The Western Europe box and carton overwrapping machines market is estimated to account for a share of over 27% in 2018, which is more than the estimated cumulative shares of box and carton overwrapping machines in Eastern Europe, MEA, Latin America, and Japan.
The Western Europe box and carton overwrapping machines market is expected to remain at the top in terms of market share till 2023, after which, the APEJ region is forecast to surpass Western Europe. By the end of 2028, the Western Europe box and carton overwrapping machines market is forecast to account for a little more than 1/4th of the total market.
Box and Carton Overwrapping Machines Market: Competitive Landscape
The companies studied during the course of research on box and carton overwrapping machines include Marden Edwards Ltd., JET Pack Machines Pvt. Ltd., Focke & Co. (GmbH & Co. KG), Wega Electronics sp. z.o.o., ULMA Packaging, Sollas Holland BV,ProMach, Inc., I.M.A. Industria Macchine Automatiche SpA, Tenchi Sangyo & Tenchi Kikai Co., Ltd., Minipack International Pty Ltd., S.Coop.,Chie Mei Enterprise Co., Ltd., Heino Ilsemann GmbH, and Aetnagroup S.p.A., among others.
Key Segment
On the basis of product type
- manual
- semi-automatic
- automatic machines
On the basis of end use
- food
- beverage
- healthcare
- personal care & cosmetics
- industrial packaging
- others
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by - Sudip Saha, Managing Director and Co-Founder of Future Market Insights
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