The Wrapping Machine Market is expected to grow at an exponential CAGR from 2021-to 2027.
A comprehensive overview of the Wrapping Machine market is recently added by UnivDatos Market Insights to its humongous database. The Wrapping Machine report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Wrapping Machine market. The Wrapping Machine report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates Wrapping machines at the global and regional levels. The Wrapping Machine Market is expected to grow at an exponential CAGR from 2021-to 2027.
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Market Overview
Rapid industrialization, growing infrastructural developments, and increasing investments, especially in the food and beverage industry, are some of the factors expected to augment the demand for wrapping machines. As per the World Bank, the industrial sector’s value-added as a % of GDP reached 27.88% in 2020 up from 25.95% in 2016. Emerging demand for processed and packaged food, ready-to-eat food owing to the busy and hectic life schedule, and emerging working couples, globally is contributing to the growth of the market. As per Office for National Statistics (ONS), the number of mothers in the labor market had grown substantially over the last two decades, globally. In the United Kingdom, around 66.2% of mothers were in employment in 2000, which rose to 75.1% by 2019. Also, as per Deloitte, 28% of consumers will switch to a frozen or processed alternative when faced with a stockout of the fresh item they intended to purchase.
COVID-19 Impact
The covid-19 pandemic has inflicted disruptions on manufacturing activities and supply chains across the globe. The pandemic-led interruptions and the lockdown norms implemented in various countries to contain the pandemic have bottlenecks in the bulk movement of non-essential goods. The factor also led to a decline in demand for retail packaging, adversely affecting the growth dynamics of the wrapping machine market. However, with the stabilization in economies. Manufacturing activities consumer sentiments also spurred the growth of the retailing sector, due to which the demand for the wrapping machine has started spurring. Also, The manufacturers in the stretch and shrink films market will see the growing popularity of environmentally friendly packaging materials that have high functional characteristics as well.
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The Wrapping Machine Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By machine type, the market is primarily bifurcated into
• Stretch
• Shrink
• Others
The shrink segment grabbed XX% market share in 2020. Shrink film is used as an overwrap on many types of packaging, including cartons, boxes, beverage cans, and pallet loads. A variety of products may be enclosed in shrink wrap to stabilize the products, unities them, keep them clean or add tamper resistance. It can be the primary covering for some foods such as cheese, meats, vegetables, and greens.
By application, the market is primarily bifurcated into
• Food & Beverage
• Consumer Goods
• Pharmaceuticals
• Others
The food and beverage segment grabbed XX% market share in 2020. the growing demand for organic and natural beverages, alcohol-free beverages, juices, energy drinks, etc., are also propelling the growth of wrapping machines. As per Nielsen, Nonalcoholic beverages sales totaled US$331 million (up +33.2%) in 2020, while low-alcohol sales rose 8.1% to US$2.77 billion. Brands saw a 315% increase in low- and no-alcohol beverage dollar sales.
Wrapping Machine Market Geographical Segmentation Includes:
· North America
· Europe
· Asia-Pacific
· Rest of the World
Based on the estimation, the Asia-Pacific region grabbed XX% market share in 2020. A rise in the investment in the hospitality sector is leading to the growing number of hotels and restaurants which is gaining end-users traction, and the market is booming. As per a report by JLL, approximately US$7 billion in transactions in 2021, an increase of 20% year-on-year, up from US$5.8 billion in 2020.
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The major players targeting the market includes
• 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.
The degree of competition among prominent regional companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Wrapping Machine market. The leading players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
· What are the latest trends, new patterns, and technological advancements in the Wrapping Machine Market?
· Which factors are influencing the Wrapping Machine market over the forecast period?
· What are the global challenges, threats, and risks in the Wrapping Machine Market?
· Which factors are propelling and restraining the Wrapping Machine Market?
· What are the demanding global regions of the Wrapping Machine Market?
· What will be the global market size in the upcoming years?
· What are the crucial market acquisition strategies and policies applied by global companies?
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