The global wapping machine market size is expected to reach USD 5.48 billion by 2028 according to a new study by Polaris Market Research. The report “Wrapping Machine Market Share, Size, Trends, Industry Analysis Report, By Mode of Operation (Automatic, Semi-automatic); By Machine Type; By Application; By Region; Segment Forecast, 2021 – 2028” gives a detailed insight into the current market dynamics and provides analysis on future market growth.
Key factors responsible for the industry growth include increasing adoption in the food and beverage industry, rising concern of companies towards environment-friendly solutions such as biodegradable plastics, rising automation in slicing technology, and the recent surge in the pharmaceutical industry owing to a rise in COVID-19 cases.
The manufacturers are concentrating on providing a precise solution and reducing production time; these factors also increase the adoption of the wrapping unit, which is driving the market forward. The need for safe and stable packaging and the high-quality packaging of goods are propelling the industry growth.
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Asia Pacific is projected to attain a majority share by 2028. Consumer demand for product reliability is growing in the region as packaging keeps product quality good. Moreover, effective product packaging improves the product’s visual quality and industry appeal, driving up demand for wrapping equipment.
Even though the COVID-19 outbreak has impacted manufacturing companies globally, the packaging industry has been relatively unaffected. The majority of packaging companies are fully operational with increased capacity, while others are still planning to increase production. On the other hand, key manufacturers are putting in place proposals to standardize equipment using advanced techniques to boost consumer sales.
For instance, in November 2020, TrakRap has developed packaging equipment by using new digital technologies to deliver step-change improvements in efficiency, durability, protection, and durability in packaging aerosols for transport for FMCG companies supplying large retailers, with the help of Siemens.
Polaris Market Research has segmented the wrapping machine market report based on type, mode of operation, application, and region:
Wrapping Machine, Type Outlook (Revenue – USD Billion, 2016 – 2028)
Wrapping Machine, Mode of Operation Outlook (Revenue – USD Billion, 2016 – 2028)
Wrapping Machine, Application Outlook (Revenue – USD Billion, 2016 – 2028)
- Personal Care
Wrapping Machine, Regional Outlook (Revenue – USD Billion, 2016 – 2028)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa