According to Future Market Insights research, during the projected period, the global wrapping machine market is set to enjoy a valuation of US$ 3.2 billion in 2023, and further expand at a CAGR of 3.7% to reach US$ 4.6 Billion by the year 2033. The sales of wrapping machines are anticipated to bolster with the top 5 companies estimated to hold around 15 to 20% of the market in 2022.
Based on the automation, the automatic machine is projected to remain the leading segment among the other material used for manufacturing wrapping machines. The automatic machine segment is estimated to expand 1.4 times the current market value from 2023 to 2033.
| Attributes | Details |
|---|---|
| Market Size 2023 | US$ 3.2 Billion |
| Market Size 2033 | US$ 4.6 Billion |
| Value CAGR (2023 to 2033) | 3.7% |
| Collective Value Share: Top 3 Countries (2023E) | 30 to 35% |
According to the FMI analysis, the wrapping machine market revenue totaled US$ 3.1 billion in 2022. With the propelling demand from the various end-users, the global wrapping machine market is projected to reach US$ 4.6 Billion by 2033, accelerating at a CAGR of 3.7% during the forecast period.
The wrapping machine market is estimated to experience a positive growth outlook during the forecast period. A new forecast by FMI anticipates that wrapping machine sales will rise from 2023 to 2033 and is projected to create an absolute incremental growth opportunity of US$ 1.5 Billion.
The modernization of the packaging machinery industry shapes the wrapping machine market growth. The wrapping machine market is anticipated to expand 1.5 times the current market value during the forecast period.
The global wrapping machine market witnessed a CAGR of 3.4% during the historic period with a market value of US$ 3.1 billion in 2022.
The wrapping machine is used to wrap products on a platform. Wrapping machines are specialized packaging equipment used for the selection and handling of pallet loads with varying weights and heights. Products and items are wrapped tightly before being loaded on the pallet to ensure that they remain in place throughout transportation. Both automated and semi-automatic types of this equipment are offered.
The continuously growing food & beverage and food service industry are projected to drive the demand for wrapping machines. The changes in the eating habits and lifestyle of the people have increased the usage of packed food which creates a growth opportunity for the Wrapping machine market. Overall, the global Wrapping machine market is anticipated to bolster at a faster pace during the forecast period.
The higher production cost causes low profit for the organization. Many manufacturers are strategizing to reduce operational costs to achieve high profits. The High production costs translate to lower profits. Efficiency in any operational process is an important aspect of an organization. Wrapping machine offers higher efficiency in a short time interval. Wrapping machine provides higher productivity in fewer time interval. There is less human intervention in the wrapping process with a wrapping machine. These will help to eliminate human error from the process. It offers low capital cost.
The wrapping machines have various of advantages, including less human involvement, less time consumption, and high operation speed. Consumer packaged goods (CPG) producers are constantly concentrating on improving efficiency in order to obtain a competitive edge, maintain market position, and grow their customer base. These producers frequently choose wrapping machines. These factors will create a positive growth outlook for the wrapping machine market.
Based on the machine segment, the wrapping machine segment holds the major portion of the global wrapping machine market. The targeted segment is projected to hold around 65% of the market share by the end of 2033.
Many large-scale industries are adopting automated manufacturing as well as packaging systems for increasing output. The automatic wrapping machine provides accuracy with a high productivity rate. It reduces labor demands and provides safety to all labor.
The food & beverages segment is projected to grow at a CAGR of 3.2% during the forecast period.
There is rising demand for packed food & beverages significantly. The demand for packed food and Beverage drinks are increasing due to changing lifestyle, increasing disposable income are key factors driving the growth of the food & beverages market. Consumption of food & beverages drives directly affects the sales of the wrapping machine.
China is expected to hold around 62% of the East Asia wrapping machine market by the end of the forecast period. As of June 2022, China produced about 25 lakh vehicles, including passenger and commercial vehicles, and as of June 2022, about 2.5 lakh vehicles were exported worldwide, according to key findings from the China Association of Automakers Manufacturers. Increasing demand for automobiles is expected to increase demand for end-of-line packaging to pack various automotive products.
As per The Association for Packaging and Processing Technologies (PMMI), the food sector emerged as the largest demand segment for packaging machinery across Mexico in 2020. Also, the U.S. holds a position as the third largest supplier with 17% of total imported packaging machinery in 2020 across Mexico.
The key players operating in the wrap machines market are trying to focus on increasing their sales and revenues by expanding their capabilities to meet the growing demand. The key players are trying to adopt a merger & acquisition strategy to expand their resources and are developing new technologies to meet customer needs. Also, the players are focusing on upgrading their facilities to cater to the demand. Some of the recent key developments by the leading players are as follows –
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 3.7% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| 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 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Machine, Orientation, End Use, Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Middle East and Africa (MEA); Oceania |
| Key Countries Covered | The USA, Canada, Mexico, Brazil, Germany, The UK, France, Italy, Spain, Russia, China, Japan, India, GCC countries, Australia |
| Key Companies Profiled | Redpack Packaging Machinery; Pfm Packaging Machinery Ltd.; Cavanna Packaging Group; EDL (A Massman Company); Gerhard Schubert GmbH; Mosca GmbH; A.M.P.-Rose; BRADMAN-LAKE GROUP LIMITED; Shandong Sapphire Packaging Machinery Co., Ltd; Movitec Wrapping Systems, SL; Technowrapp srl; Wulftec International Inc.; Robopac SPA; Phoenix Wrappers, Inc.; Perks Engineering; ULMA Packaging (ULMA Group) |
| Customization & Pricing | Available upon Request |
In 2022, the value of the global wrapping machine market was US$ 3.1 Billion.
During the forecast period, the global wrapping machine market is anticipated to expand at a CAGR of 3.7%.
The global wrapping machine market is expected to reach US$ 4.6 Billion by the end of 2033.
During the forecast period, Automatic machines are likely to be the fastest-growing material segment in the global wrapping machine market.
Redpack Packaging Machinery, Pfm Packaging Machinery Ltd, Cavanna Packaging Group, EDL (A Massman Company), Gerhard Schubert GmbH, Mosca GmbH, A.M.P.-Rose, BRADMAN-LAKE GROUP LIMITED, Movitec Wrapping Systems, SL, Technowrapp srl, Robopac SPA, Phoenix Wrappers, Inc. are the top players supplementing the sales of wrapping machine.
As per the FMI analysis, the Indian wrapping machine market is projected to expand at a CAGR of 4.4% from 2023 to 2033.
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