Overview and Scope
A wrapping machine is a mechanical device equipped with mechanisms for conveying and wrapping packaging items by enclosing them in protective material. It automates creating a secure and sealed package, commonly used to protect products from damage during shipping and handling.
Sizing and Forecast
The wrapping machine market size has grown strongly in recent years. It will grow from $3.3 billion in 2023 to $3.59 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to e-commerce boom, manufacturing efficiency, retail industry demand, cost reduction and labor efficiency, globalization of supply chains.
The wrapping machine market size is expected to see strong growth in the next few years. It will grow to $4.82 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to rise of sustainable packaging, customization and personalization, evolving retail trends, pharmaceutical and healthcare sector growth, food industry regulations. Major trends in the forecast period include integration of industry 4.0 technologies, technological advancements in packaging, sustainable packaging solutions, rise in e-commerce and last-mile delivery needs, flexibility and customization.
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Segmentation & Regional Insights
The wrapping machine market covered in this report is segmented –
1) By Type: Stretch, Shrink, Other Types
2) By Mode Of Operation: Semi-Automatic Wrapping Machine, Automatic Wrapping Machine
3) By Application: Food Industry, Beverages Industry, Personal Care, Pharmaceuticals, Chemicals, Other Applications
Asia-Pacific was the largest region in the wrapping machine market in 2023. The regions covered in the wrapping machine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Increasing demand for sustainable packaging is expected to propel the growth of the wrapping machine market going forward. Sustainable packaging is designed and manufactured packaging that minimizes the use of resources minimizes waste, and is recyclable or compostable. Wrapping machines are used in sustainable packaging to cover products in recycled or bio-based materials and apply labels or shrink wrap to products that can help reduce the amount of packaging material used. For instance, in September 2021, according to 2,000 UK consumers aged 18 to 60 by Drapers, a UK-based business-to-business magazine, and Smurfit Kappa Group, a Europe-based paper-based packaging company, in the UK, around 64% more likely to buy from retailers with sustainable packaging and 50% willing to pay more for sustainable packaging and delivery in 2021. Further, 73% stated that using paper or cardboard packaging is essential, and 66% said it is important to them that the packaging can be recycled. Therefore, the increasing demand for sustainable packaging is driving the growth of the wrapping machine market.
Key Industry Players
Major companies operating in the wrapping machine market report are Mettler-Toledo International Inc., Signode Industrial Group LLC, ProMach Inc., Gerhard Schubert GmbH, Maillis Group S.A., LanTech LLC, Grupo ULMA S. Coop., Aetna International S.p.A., Wulftec International Inc., Bradman Lake Group Limited, Phoenix Packaging Inc., Cavanna S.p.A., Maschinenfabrik Gerd Mosca GmbH, PFM Packaging Machinery S.p.A., A.M.P. ROSE Limited, Brenton LLC, The Massman Companies, Technowrapp s.r.l., Movitec Wrapping Systems SL, Adpak Machinery Systems Ltd., American Packaging Machinery Inc., Atlanta Stretch S.p.A., Nido Machineries Company Limited, Sapphire Packaging Limited, SPG Packaging Systems GmbH, TOSA S.p.a., Vancebuild Ltd., Loesch Verpackungstechnik GmbH + Co. KG., Perks Engineering Limited, Pieri s.r.l.
The wrapping machine market report table of contents includes:
1. Executive Summary
2. Wrapping Machine Market Characteristics
3. Wrapping Machine Market Trends And Strategies
4. Wrapping Machine Market – Macro Economic Scenario
5. Global Wrapping Machine Market Size and Growth
…
32. Global Wrapping Machine Market Competitive Benchmarking
33. Global Wrapping Machine Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Wrapping Machine Market
35. Wrapping Machine Market Future Outlook and Potential Analysis
36. Appendix
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