The global strapping devices market is estimated to be valued at USD 4.71 billion in 2023. The market is likely to expand at 4.7% CAGR between 2023 and 2033, reaching a valuation of USD 7.46 billion by 2033.
Rising usage in industries like food & beverage, e-commerce, healthcare, electrical & electronics, and personal drives the demand for strapping devices in the global market.
Strapping devices are packaging machines that use bands of flat steel or plastic tightened around a package or pallet of goods and fastened together to secure the package. These devices are increasingly employed across diverse industries to apply straps to an item to combine, stabilize, hold, reinforce, or fasten it.
With the rapid expansion of end-use industries such as food & beverages, packaging, e-commerce, healthcare, electronics, etc., the sales of the strapping devices are estimated to grow at a steady pace, with the top 3 countries projected to hold approximately 35 to 40% of the market by the end of 2023.
In the strapping devices market, the vertical strapping devices segment by device type is estimated to hold the major portion of around 60% by the end of 2033 owing to the cost-effective feature of vertical strapping devices.
The strapping devices market is estimated to experience a positive growth outlook with the increasing need for securing the bulk during shipping & transportation. A new forecast by FMI analysis anticipates that the strapping devices sales will propel from 2023 to 2033 and is projected to create an absolute incremental opportunity of USD 2.3 billion.
| Attribute | Key Statistics |
|---|---|
| Strapping Devices Market Estimated Size (2023) | USD 4.71 billion |
| Projected Market Size (2033) | USD 7.46 billion |
| Value-based CAGR (2023 to 2033) | 4.7% |
| Collective Value Share: Top 3 Countries (2023E) | 35 to 40% |
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Global demand for strapping devices grew at a CAGR of 3.7% from 2018 to 2022.
However, with the growing adoption of strapping devices across numerous industries for bundling products together and security pallet loads during transportation and storage, the total demand for strapping devices is projected to grow at 4.7% CAGR during the forecast period of 2023 and 2033.
Strapping has become one of the most commonly used means of unitization and bundling in the packaging industry. For this purpose, strapping machines are being installed across end-use industries.
Strapping devices help users easily bundle products together, reinforce cartons, and to secure items to pallets for shipment. They help industries to improve efficiency while at the same time reducing labor costs.
Thus, increasing usage of strapping devices across industries like food & beverage, healthcare, electronics, etc. will continue to propel the growth of the strapping devices market during the forecast period.
Different strapping devices, such as manual, semi-automatic, and automatic strapping devices, are available in the market as per the end-user requirement. The strapping devices strap more efficiently than the manual strapping the workers do.
Leading manufacturers continuously invest their resources in research and development to introduce innovative devices that can perform multiple tasks. This will further expand the global strapping devices market size during the next decade.
Rapid Expansion of Food and Beverage Industry Driving Growth in Germany’s Strapping Devices Market
The German strapping devices market is projected to create an absolute incremental opportunity of USD 142.0 Million from 2023 to 2033, owing to the rapid expansion of food and beverages industries and growing adoption of advanced packaging machines.
According to the Germany Trade & Invest (GTAI), Germany’s food retail revenue grew by 8.2% in 2020. There are more than 170 thousand different food products available in the German market. Due to increasing demand for food products, the food and beverages segment changed its production capacities at very short notice. Manufacturers are making use of advanced packaging devices like strapping devices to enhance their efficiency.
The strapping devices help reduce the time of strapping and assist in packaging the food packages efficiently. In addition, the benefits of strapping devices help in securing food packages. Thus, Germany's growing food & beverage sector is expected to fuel the demand for strapping devices.
Booming E-Commerce Sector Pushing Demand for Strapping Devices in India
According to FMI analysis, the Indian strapping devices market is projected to grow 1.8 times the current market value during the forecast period. Growth in the market is driven by factors such as rapid industrialization, increasing consumer spending on food products, and booming e-commerce.
As per the data provided by the International Trade Administration, due to growth in the Indian retail sector, India’s e-commerce market reached USD 84 billion in 2022. One of the reasons for the growth of e-commerce was the growth in the online food and grocery market after the outbreak of covid-19.
The country's online food and grocery markets are expected to grow at a value of USD 20.0 billion by 2025 from USD 2 billion in 2019. Thus, the increasing growth of prominent end-use industries like e-commerce and food & beverage is expected to push the demand for strapping devices in India.
Principal Consultant
Automatic Strapping Devices Will Continue to Remain Highly Preferred by End Users
Based on operation, the automatic segment is projected to lead the global strapping devices market, accounting for around 42% of the value share by the end of 2023. The demand for automatic strapping devices has risen as they offer more control, consistency, and efficiency.
Automatic strapping devices help apply package straps faster than manual strapping tools. It also helps adjust the tension levels on different packages according to the requirement, and the wastage of the materials can also be prevented as it cuts the straps precisely to the required tension.
In addition, automatic strapping devices are secure and can easily be operated by workers compared to manual strapping techniques. Thus, due to the numerous benefits provided by automatic strapping devices, it is projected to lead the global strapping devices market.
Most of the Strapping Devices Demand to Emerge From Food & Beverage Sector
Based on end use, the food & beverages segment will continue to dominate the global strapping device market during the forecast period, creating an incremental opportunity of USD 963.5 Million through 2033.
This can be attributed to the rapid expansion of the food and beverage industry and the growing adoption of strapping machines for packaging food products.
Strapping devices are highly required for the easy and convenient strapping of packages. Packaged food requires reliable and high-performance packaging solutions to keep the food secure and safe. Thus, the expanding food & beverages segment has become the leading end-use for the strapping devices.
Due to the increasing demand for strapping, the global strapping devices market faces strong competition. Manufacturers use various strategic tactics like innovation, mergers & acquisitions, etc., to gain a competitive advantage in the global strapping devices market. They are also focusing on the launch of new machines with some innovations to increase their customer base.
Some of the recent developments in the market are as follows
Similarly, companies are expanding their strapping business across different regions to improve their revenue share. For instance, in 2022, FROMM Group announced plans to expand its operations in Lancaster Country, with an investment of USD 34.6 million.
Mosca Direct Ltd., Samuel Son & Co., and Signode Industrial- Top 3 Front-Runners for Sustainable Strapping Devices
Mosca Direct Ltd. is one of the renowned names when it comes to strapping devices. In addition to strapping devices, the company also makes pallet strapping machines and plastic straps. Mosca Direct Ltd. is also known for training end-users who have bought its products. The company started a training academy in 2017 in this regard.
The company is focusing on using interactive technology to boost its virtual presence. For instance, the company announced in 2021 that it would use Web3D technology to strengthen its global virtual presence. The company is also making use of 3D technology to showcase its products and services.
Mosca Direct Ltd. is also focusing on sustainability initiatives. For instance, in 2021, the company announced it would be planting trees with every machine order it receives. However, Samuel, Son & Co., a packaging giant, is picking up the pace to be the top strapping devices hustler.
Headquartered in Canada, the company has over 5,000 employees and is known for its product range, which includes metal processors.
To boost its position, the company regularly invests in acquiring new companies. For instance, in June 2021, the company announced that it will be acquiring Systematix Inc., a leading provider of automated systems. The acquisition was aimed at increasing the presence of Samuel, Son & Co. in Mexico and North America.
Signode Industrial Group is another name among the front-runners in the strapping devices space. The company offers a wide range of end-of-line packaging products. The company has built a strong presence from initial packaging to last-mile transport over the years.
Signode Industrial Group is committed to sustainability initiatives and iaunched its Twentyby30 Program in 2020. As the name suggests, Twentyby30 Program involves incorporating 20 goals and completing them by 2030 or before.
The company is focusing on showcasing its products at international conferences and events. For instance, the company showcased its new automation advancements at MODEX, an annual event in Georgia, USA.
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| Attribute | Details |
|---|---|
| Estimated Market Size (2023) | USD 4.71 billion |
| Projected Market Size (2033) | USD 7.46 billion |
| Forecast Growth Rate (2023 to 2033) | 4.7% CAGR |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Million, Volume in Units, and CAGR from 2023 to 2033 |
| Segments Covered | Operation, Device Type, End Use, Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Middle East and Africa; Oceania |
| Key Countries Covered | United States of America, Canada, Mexico, Brazil, Germany, United Kingdom, France, Italy, Spain, Russia, China, Japan, India, GCC countries, Australia |
| Key Companies Profiled | Mosca Direct Ltd; Samuel, Son & Co.; Signode Industrial Group LLC; StraPack, Corp.; Messersì Packaging S.r.l.; Transpak Equipment Corp.; North Shore Strapping Inc.; Dynaric, Inc.; Stripes; Fromm Holding AG; Avi International Packaging Co.; Kopack Enterprises; Transpak Equipment Corp.; Alligator Automation; ASN Packaging Pvt Ltd.; Packmaster Machinery Private Limited.; FEIFER; Saizar S.L.; Reisopack S.L.; HANGZHOU YOUNGSUN INTELLIGENT EQUIPMENT CO., LTD |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
The strapping devices market is valued at USD 4.71 billion in 2023.
The strapping devices market is likely to reach USD 7.46 billion by 2033, registering a CAGR of 4.7%.
The strapping devices market recorded a CAGR of 3.7% from 2018 to 2022.
The food & beverages sector holds high revenue potential for the strapping devices market.
Mosca Direct Ltd, Samuel, Son & Co., Signode Industrial Group LLC, and StraPack, Corp. are key strapping devices market players.
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