The global wrapping machine market size is projected to be valued at USD 4.5 billion by 2025, expanding at a CAGR of 8.5%, according to a new report by Grand View Research, Inc. Factors such as inclination of consumers toward convenient, packaged, processed, and ready-to-eat food products is anticipated to propel market growth. In addition, growing demand from the food and beverage industry is also anticipated to favor market growth.
Moreover, increasing awareness among consumers regarding health, packaging, and hygiene is likely to trigger market growth over the forecast period. Factors like government regulations for equipment manufacturers and secure work environment to safeguard industry norms and product standardization are expected to drive the market over the forecast period.
The stretch machine segment dominated the market in 2018 and is anticipated to exhibit a CAGR of 9.5% over the forecast period. Technological advancements, growing demand from application industries, and need for product-based packaging are some of the factors that are expected to favor segment growth.
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The automatic mode of operation is projected to dominate the global market by 2025 and is anticipated to register a CAGR of 9.3% over the forecast period. Rapid industrialization, automation in the process, adoption of industry 4.0, and other technological advancements are projected to spur the demand for automated wrapping machine over the forecast period.
The food application segment accounted for the largest market share in 2018 whereas the beverage segment is likely to exhibit a CAGR of 9.2% over the forecast period. Favorable growth of the food and beverage industry, particularly in Asia Pacific, Central and South America, and Middle East, is anticipated to act as a market driver over the forecast period.
Further key findings from the study suggest:
- The U.S. market is expected to witness a CAGR of 13.2% owing to a thriving food and beverage industry, potential market opportunities, and favorable government policies
- The Russia market is expected to be valued at USD 329.1 million by 2025. Positive GDP growth and rise in purchasing power of consumers are anticipated to favor the market in Russia
- In 2018, China accounted for a revenue share of 11.4% in the global market. Product innovations, developments, and introduction of advanced technologies offer favorable opportunities for new markets like beverage, pharmaceutical, and personal care in China
- Key players operating in the wrapping machine market include Duravant LLC; Aetnagroup S.p.A.; Robert Bosch GmbH; Coesia S.p.A.; IMA Group; ProMach, Inc.; and Lantech. In December 2018, Duravant acquired Wulftec International, Inc., a North America-based company manufacturing semi-automatic and fully automatic stretch wrapping machine.
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Grand View Research has segmented the global wrapping machine market based on machine type, mode of operation, application, and region:
Wrapping Machine Type Outlook (Revenue, USD Million, 2014 – 2025)
Wrapping Machine Mode of Operation Outlook (Revenue, USD Million, 2014 – 2025)
Wrapping Machine Application Outlook (Revenue, USD Million, 2014 – 2025)
- Personal Care
Wrapping Machine Regional Outlook (Revenue, USD Million, 2014 – 2025)
- North America
- Asia Pacific
- South Korea
- Central & South America
- Middle East and Africa
- Saudi Arabia
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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