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The rise in disposable income, surging industrial sector, and rapid urbanization sector globally have resulted in more inclination towards spending more on food and beverages, smart products, etc., which is resulting in the growing need for wrapping the products, therefore the market is uplifting. As per OCED, the household disposable income across several countries such as Australia, Austria, Canada, France, and many others witnessed a significant rise during 2018-2019. In Canada, the gross adjusted household disposable income per capita was USD 39,005.5 in 2020, up from USD 35,892.5 in 2019.
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Also, the innovations in packaging coupled with the rising replacement of conventional packaging are acting as a growth catalyst to the wrapping machine market. Increasing demand for ready-to-eat, dairy, and other perishable products, along with growing demand for convenience food items, is likely to favor market growth. In addition, factors such as the shift in consumer lifestyle and food habits, coupled with changing food preferences, are expected to augment the demand for wrapping machines over the forecast period
According to UnivDatos Market Insights (UMI)’ research report “Global Wrapping Machine Market Analysis, 2020”, the growing demand for organic food products globally is emerging as one of the growth catalysts to the wrapping machine market. In 2018, India was the leading organic food-producing country in the world, measured by the number of producers. In that year, India had 1.1 million organic food producers, which is more than the number of all organic food producers in the other nine leading countries in the world combined. Also, the benefit of a wrapping machine is that hand wrapping will give anywhere from 10 to 20% stretch of the film. Machine wrapping, on the other hand, can give anywhere from 200 to 300%. Stretch wrappers are now being introduced that get up to 500% pre-stretch. By automating the stretch wrapping process, packagers can save money on film. This is because the right stretch wrapping technology will pre-stretch the film, allowing you to get more done with less and stretch the use of a single roll of the film further.
Moreover, a continuous rise in the launch of new medicines globally is leading to the growing demand for stretch and shrink films globally. Globally. As per the International Federation of Pharmaceutical Manufacturers & Associations In 2018, 59 new medicines were launched, while currently, more than 8,000 compounds are at different stages of development. Moreover, the research-based biopharmaceutical industry is estimated to have spent USD 179 billion globally on biopharmaceutical R&D in 2018
Based on the machine type, the automatic segment acquired the -% market share and gathered USD – Mn market in 2020. The innovations in automatic wrapping machines are also gaining end-users traction. Automatic wrap systems are a faster, modified version of the base inline automatic system. The servo-controlled; continuous-motion seal jaw moves with the product during the sealing process for increased line speeds. Continuous motion inline automatic wrap systems can be designed to handle a wide range of applications and can wrap up to 35 packs per minute.
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Based on the application, The food & beverage segment grabbed -% market share and dominated the market in 2020. Food and beverage packaging are all about folding, cutting, pressing, and moving in a fast-paced environment. Conveyors alone are involved in 30% of all machinery accidents. The rinsing machines, liquid fillers, capping machines, and labelers are probably the four more important packaging machines on any line packaging food and beverage products.
The Asia Pacific to Grab Lion’s Share, But Europe to witness Explicit Growth
Based on the Region, the Asia-Pacific region dominated the global Wrapping Machine market in 2020., stated in UnivDatos Market Insights (UMI)’ research report “Global Wrapping Machine Market Analysis, 2020”. The rising number of food establishments in the region is leading to the growth of this region. The number of foodservice establishments worldwide varied greatly by region in 2020. Asia-Pacific had the most establishments at over 17 million. In comparison, the region with the second-highest number of foodservice establishments was Latin America with over 2.3 million.
According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the global Wrapping Machine Market are Duravant LLC, Robert Bosch GmbH, Maillis Group, BEUMER Group GmbH & Co. KG, ProMach Inc., Atlantic Corporation, Tetra Laval International S.A., Robert Reiser & Co., Inc, Aetnagroup S.p.A., American Packaging Machinery, Inc., etc., The players are focused on launching new products for gaining customers’ traction and expanding their geographical reach to get a competitive edge in the industry.
“Global Wrapping Machine Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the Wrapping Machine Market across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
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The Global Wrapping Machine is Expected to Display an Elevated CAGR over the forecast period (2021-2027)Wrapping Machine Market Report, Share & Size, Analysis 2021-2027
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