The report presents a comprehensive overview of industry trends, growth share and the competitive landscape in 200 pages.
“Shrink Wrap Equipment Market” report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the Shrink Wrap Equipment Market by region.
Global Shrink Wrap Equipment Market is valued at approximately USD $$ billion in 2022 and is anticipated to grow with a healthy growth rate of more than $% over the forecast period 2023-2030.
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Shrink Wrap Equipment is used for shrinking the packaging of goods. It offers various advantages such as ease to handle, increased shelf life, easy handling, and eco-friendly. The Shrink Wrap Equipment market is expanding because of factors such as the rising E-commerce industry and growing food and beverage industry in the forecast period
According to UNCTAD in 2021, global e-commerce has jumped to around USD 26.7 trillion in 2019 with an increase of around 4 % from 2018 due to rising online sales. The Republic of Korea is the dominant region with shares of around 25.9 % in 2020. Also, the percentage of retail sales or online shares of the e-commerce industry across Australia, Canada, China, Singapore, the United Kingdom, and the United States is around 9.4 %, 6.2 %, 24.9 %,11.7%, 23.3%, and 14 %. Whereas rising demand to keep groceries fresh during transportation and growing spending on efficient packaging by end-user industries create lucrative opportunities for the market. However, higher initial costs and maintenance hamper the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Shrink Wrap Equipment Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. The Asia Pacific dominated the market in terms of revenue, owing to the increasing food processing industry, rising demand by various end-user industries, and growing e-commerce industries. Whereas the Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as increasing public awareness towards packaging and demand for increased shelf lives and fresh products enhancing the market demand across the region in the forecast period.
Major market players included in this report are:
- Texwrap Packaging Systems LLC (Pro Mach Inc.)
- Standard-Knapp, Inc.
- Aetnagroup S.p.A.
- U.S. Packaging & Wrapping LLC
- Conflex Incorporated
- PAC Machinery Group
- Douglas Machine Inc.
- Lachenmeier ApS
- Tripack LLC
- PDC International Corp.
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Recent Developments in the Market:
- In May 2019, Aetnagroup purchased OCME. The consolidation strategy of the two industrial companies, ROBOPAC AND OCME, was implemented to allow AETNA GROUP to maximize technical, industrial, and commercial synergies in order to face new challenges.
- In August 2019, Standard-Knapp, Inc. partnered _ has entered into a partnership agreement with EoL Packaging Experts (EoL), an international company specializing in end-of-line packaging solutions for the food and beverage industries. The merger has the potential to create a globally active industry leader in end-of-line packaging machinery and systems with a strong presence in both North America and Europe.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By End-user Industry:
Food,
Beverages,
Pharmaceutical,
Industrial,
Logistics
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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Report Include:
- Market Behavior/ Level of Risk and Opportunity
- End Industry Behavior/ Opportunity Assessment
- Expected Industry Recovery Timeline
Key Market Features in Global Market:The report assessed key market features, including revenue, capacity, price, capacity utilization rate, production rate, gross, production, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. The study also offers a thorough analysis of the most important market factors and their most recent developments, as well as pertinent market segments and sub-segments.
In this report, the following important queries are addressed:
- What is the Global market’s sales value, production value, consumption value, import, and export (including North America, Europe, Asia-Pacific, South America, Middle East, and Africa)?
- Who are the major manufacturers in this sector on a global scale? How are their capacity, production, sales, pricing, cost, gross, and revenue operating?
- What are the vendors’ market prospects and risks in the international industry?
- Which product types, end users, or applications might be looking for additional growth prospects? What is each type’s and application’s market share?
- What specific strategies and limitations are keeping the market in check?
- What is the various marketing, sales, and distribution channels in the international market?
- What are the upstream raw materials, as well as the manufacturing machinery?
- What are the Market opportunities, market risk, and market overview of this industry?
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