NEWARK, Del, June 14, 2022 (GLOBE NEWSWIRE) -- As per the recently published report on shrink wrapper market by Future Market Insights (FMI), sales of shrink wrappers are estimated to increase 2.1 times of the current value by the end of 2032.
Growth can be attributed to numerous benefits offered by shrink wrapping machines. Many industries are switching from traditional packaging to automation and time saving packaging approaches.
As per FMI survey, 63% of the end-use industries including food & beverage, consumer goods, and others are adopting shrink wrappers as they optimize the lead time and increase production level.
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Additionally, the shrink wrappers are expected to outpace stretch wrappers in next five years. Unlike stretch films, shrink films used in the wrapping machine shrinks according to the shape of the product being packaged when heat is applied, and it gives a glossy and enhanced look.
Therefore, shrink wrappers are primarily preferred in the industries where end users want to display the product on shelf stores. Furthermore, to increase impulse purchase of the products, printed shrink wrap is gaining significant traction. On the back of above-mentioned benefits, the global shrink wrapper market is estimated to witness lucrative growth opportunities during the assessment period.
The demand for automatic shrink wrapper machines is expected to gain momentum as these machines offer an efficient and a fast way to bundle the product packaging, and are equipped with a PLC control system and safety protection.
Automatic shrink wrapping machines are easy to operate and maintain, and they automatically perform the scraps discharge process. These machines are widely used for packaging various products with different shapes and sizes. Shrink packaging helps to reduce production output time and the cost of safe packaging material. These factors are driving the demand for the shrink wrappers across the globe.
“Increase in the consumption and production of packaged food, along with rising demand for frozen foods are expected to propel the shrink wrapper market,” says an FMI analyst.
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Key Takeaways:
- By product type, L-bar sealers are expected to hold more than 2/5th of the total market share by 2032.
- Based on end-use industry, the food and beverage segment is forecast to hold 34% of the total market share by 2032.
- Consumption of shrink wrappers in food and beverage industry is expected increase 1.9 times of the current consumption value by 2032.
- Sales in the U.S. shrink wrapper market are expected to increase at a 5.8% CAGR over the assessment period.
- India will emerge as a lucrative pocket, with demand projected to grow at a 8.3% CAGR through 2032.
Shrink Wrapper Market Landscape
The shrink wrapper market is expected to witness tough competition due to increasing number of market participants across various nations. The demand for packaging formats that cut down the lead/processing time and ensure contamination-free packaging is creating significant opportunities for key players.
Some of the estimated leading players of the shrink wrapper market include Shorr Packaging Corp., Texwrap Packaging Systems LLC, nVenia LLC, Eastey Enterprises Inc., Standard-Knapp, Inc., Shrinkwrap Machinery Co. Ltd., Klikwood Corporation, Sidel Group, Robopac-Aetna Group S.p.A, and Clearpack.
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Shrink Wrapper Market Report
Future market insights, in its new report, offers an unbiased analysis of the global market for shrink wrapper market by product type (L-bar sealers, I-bar sealers and side sealers), by process (manual, semi-automatic and automatic), by end use industry (food & beverage, pharmaceutical, cosmetics & personal care, home care, automotive, electrical & electronics, and logistics & transportation) across seven regions.
About the Packaging Division at Future Market Insights
The packaging division at Future Market Insights provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, packaging machinery to packaging designs & formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 1,000+ reports, the team has analysed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. COVID-19 impact
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Value Chain Analysis
3.3.1. Raw Material Providers
3.3.2. Manufacturers
3.3.3. Wholesalers and Distributors
3.3.4. End Users
3.4. Regulatory Landscape
3.4.1. By Key Regions
3.4.2. By Key Countries
3.5. Production and Consumption Statistics
3.6. Import and Export Statistics
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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