The global banding machine market is anticipated to reach around USD 4.92 billion in 2023. Furthermore, with rising adoption from industries like food & beverages, electronics, e-commerce, logistics, pharmaceuticals, etc., the overall demand for banding machines is poised to increase at 4.7% between 2023 and 2033, totaling a market valuation of USD 7.79 billion by 2033.
Emerging trends indicate that growing demand for advanced packaging solutions across various industries will boost banding machine market revenues during the next ten years, with the top 3 countries estimated to hold approximately 35 to 40% of the global banding machine market by the end of 2023.
The 1.0 to 1.5 sec/straps segment by strapping speed is projected to hold the major portion of around 55% of the global banding machines market by the end of 2033. This can be attributed to the increasing adoption of high-speed machines & technology by the end-use industries.
A forecast by FMI anticipates that the banding machine sales will propel from 2023 to 2033 and is estimated to create an incremental growth opportunity of USD 2.8 billion. Furthermore, the top 5 companies are anticipated to hold around 20 to 25% share of the global banding machine market by the end of 2023.
The rapid expansion of food & beverage and e-commerce sectors and a high preference for strapping solutions & strapping devices to secure goods is projected to augment the sales of banding machines. The banding machine market is anticipated to grow 1.6x the current market value during the forecast period, with North America and Europe leading.
| Attributes | Key Statistics |
|---|---|
| Banding Machine Market Estimated Size (2023) | USD 4.92 billion |
| Projected Market Size (2033) | USD 7.79 billion |
| Value-based CAGR (2023 to 2033) | 4.7% |
| Collective Value Share: Top 3 Countries (2023E) | 35 to 40% |
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The global banding machine market witnessed a CAGR of 3.6% during 2018 and 2022. However, with rising demand for banding machines from diverse end-use industries, the overall market is likely to grow at 4.7% CAGR over the assessment period from 2023 to 2033.
A banding machine helps in banding or strapping the products properly. It allows users to bundle and showcase products and protect delicate high-end materials. If the products are not banded effectively, then it may destroy or harm the products inside.
As a result, industries like food and beverages, electronics, pharmaceuticals, and electronics use these machines for banding products.
Due to the rise in the adoption of automation in various end-use industries, demand for semi-automatic banding machines and automatic banding machines has increased significantly.
These banding machines are more effective than manual ones and can perform banding faster, increasing productivity. Thus, growth is seen in the banding machine market due to the abovementioned benefits.
Similarly, the rapid expansion of end-use industries such as food & beverage, shipping & logistics, and e-commerce, along with the increasing adoption of banding machines in these industries, is projected to increase the sales of the banding machine during the forecast period.
Rising Need for Shipping of Products Accelerating Demand for the Banding Machine
It has become essential to ship the products safely to reach the customers without any damage. Due to increased commercial trade, shipping & logistics industries are experiencing a heavy workload.
One of the challenges the shipping and logistics industry faces is product packaging that could prevent them from getting opened or damaged during transit.
Other notable industries such as food & beverage, electrical & electronics, pharmaceutical, and others are facing challenges in the safe packaging of their products. To address this issue, these industries employ banding machines.
A banding machine is a perfect solution for the abovementioned industries to band their products. The banding machine not only assists in safe packaging but also helps to band and brand the package precisely and conveniently.
Thus, the rising need for safe shipping of various end-use products will continue to push the demand for the banding machine during the forthcoming years.
Branding Through Banding to Assist in the Growth of the Banding Machine Market
Banding the goods provides enough space for printing the product's logo or identity. Manufacturers can also print information related to the product, like ingredients or manufacturing date.
The efficient banding done by the banding machine helps in branding the product effectively and easily. Through banding, the corporate identity can be presented on the store shelf. The marketing information on the banding can be cleverly done, which increases the chances of being picked by the consumers.
In addition, there is sufficient space for product information, traceability data, or even storytelling. Thus, easy branding done through banding without any additional labeling required has attracted different manufacturers to increase the use of banding machines.
Principal Consultant
Surging Demand for Packaged Food Products Spurring Growth in Japan's Banding Machine Market
Japan's banding machine market is anticipated to register a CAGR of 6.2% from 2023 to 2033. Surging demand for banding machines from the food and beverage industry is a key factor driving the banding machine market in Japan.
According to the Foreign Agricultural Service, Japan's food processing industry produced USD 218.3 billion of products in the food & beverage industry in 2020. This was mainly due to the rising demand for health and ready-to-go food products.
Similarly, frozen food consumption increased from USD 5.56 billion to USD 6.57 billion in 2020. Such food items require packaging, which can keep the products safe during shipment. As a result, manufacturers use banding machines.
Banding machines help in providing such solutions and are effective packaging options. Thus, due to the increasing demand for packed food items, sales of banding machines are projected to rise at a robust pace in Japan.
Rising Adoption of Advanced Packaging Technologies by Industries Pushing Banding Machine Sales in the United States
As per FMI, the United States banding machine market is projected to create an absolute incremental growth opportunity of USD 448.1 million during the forecast period, owing to the rising adoption of advanced packaging solutions across various industries to increase productivity, strong presence of leading naming machine manufacturers, favorable government support, and rising penetration of online shopping platforms.
According to the data provided by The Food Industry Association (FMI), the majority of food retailers across the United States now have online sales, and around 95% of them saw an increase in online sales in the year 2020. More than 80% of retailers are focusing on new technologies to improve the customer experience.
As banding machines increase the efficiency of the packaging, which results in the secure and safe delivery of packages, manufacturers are increasingly employing them in their facilities. This is projected to bolster the sales of banding machines in the United States over the next ten years.
Most End User Prefer Strapping Machines With Strapping Speeds of 1.0 to 1.5 Sec/Straps
Based on strapping speed, the 1.0 to 1.5 sec/straps segment is anticipated to hold the highest market share of 51% by the end of 2023. This can be attributed to the rising end-user preference for banding machines with a strapping speed of 1.0 to 1.5 sec/straps, as high-speed banding machines eliminate downtime and are efficient.
Due to increased e-commerce and other delivery services, shipping and logistics companies require machines to band the straps more speedily and efficiently to save packaging time. This will further improve the share of the 1.0 to 1.5 sec/straps segment during the forecast period.
The majority of Banding Machine Sales to Remain Concentrated in Shipping & Logistics Sectors
Based on the end-user, the shipping & logistics segment is estimated to remain the leading segment in the global banding machine market, creating a growth opportunity of USD 1.3 billion from 2023 to 2033.
A rise in global trade has fuelled the growth of the shipping & logistics industries. Companies require banding machines to pack their delivery goods to effectively and efficiently manage the logistics.
Different high-speed banding machines assist the shipping & logistics industries in dispatching their orders. As a result of the numerous advantages of banding machines in the shipping and logistics industry, demand in the market is poised to grow at a steady pace through 2033.
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Manufacturers of the banding machine are targeting various end-use industries to increase their market share. They are focusing on product innovation and advancement to improve their market share. Some of the recent developments in the market are as follows
Dynaric Inc., StarPack, Inc., and Transpak Equipment to Remain Undisputed Leaders in Banding Machines Space
Since its establishment in 1973, Dynaric Inc. has become a leading manufacturer and supplier of banding equipment and strapping systems to industries with general and specialized packaging applications. Headquartered in Virginia, United States, the company has a well-established network of marketing and distribution channels.
The company provides different banding and strapping machines for industries like food, newspaper, and others. For instance, Dynaric Inc. displayed its AM659SCA fully automatic strapping machine designed for efficient bundling at the 2018 Boston Seafood Show. It is the company's most efficient plastic strapping machine.'
Similarly, in 2018, the company launched its new Ultra Fast D3500 Automatic Strapping-Banding Machine specially designed for packaging applications, including banding of totes, cut paper, cartons, boxes, mail trays, newspapers, magazines, etc.
The new machine is capable of bundling up to 75 straps per minute and features servo motors that reduce power consumption while increasing overall performance.
StarPack Inc. has been offering numerous packaging solutions, including strapping machines, banding machines, hand tools, plastic strapping materials, and other packaging equipment to various end-use industries for a long time.
The company has a well-established customer base and has earned its solid reputation as the most dependable strapping and banding machine in the world.
StarPack has become an ideal destination for consumers who are looking to purchase highly efficient strapping and banding machines. Right from cardboard packaging to food preparation, the company is providing customized solutions to customers.
Similarly, Transpak, headquartered in Taipei, TW, has become a global leader in banding machines and strapping machines in the world. The company is making continuous advances in banding and strapping machinery by investing in research and development activities. The company's annual foreign sales hit a record high of USD 55.6 million in 2022.
| Attributes | Details |
|---|---|
| Estimated Market Size (2023) | USD 4.92 billion |
| Projected Market Size (2033) | USD 7.79 billion |
| Anticipated Growth Rate (2023 to 2033) | 4.7% CAGR |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million, Volume in Units, and CAGR from 2023 to 2033 |
| Segments Covered | Operation, Strapping Speed, End Use, Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Middle East and Africa; Oceania |
| Key Countries Covered | United States of America, Canada, Mexico, Brazil, Germany, United Kingdom, France, Italy, Spain, Russia, China, Japan, India, GCC countries, Australia |
| Key Companies Profiled | Dynaric, Inc; StraPack, Inc.; Transpak Equipment Corp.; Signode Industrial Group LLC; Fromm Holding AG; ATS-Tanner Banding Systems AG; FELINS; Bandall International.; Avi International Packaging Co.; The Plastic Strapping Company Ltd; Pack Machines Private Limited.; Millenium Packaging.; TPC Packaging Solutions; Soundpoen Packing Solution Co., Ltd; Cyklop; Kopack Enterprises. |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
The market is valued at USD 4.9 billion in 2023.
Dynaric, Inc., StraPack, Inc., and Transpak Equipment Corp. are key market players.
The market shall reach USD 7.7 billion in 2033.
The market is forecast to register a CAGR of 4.7% through 2033.
Rising need for shipping of products to boost the market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Operation 5.1. Semi-automatic 5.2. Automatic 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Strapping Speed 6.1. 1.0-1.5 sec/straps 6.2. 1.6-2.0 sec/straps 6.3. Above 2.0 sec/straps 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use 7.1. Food & Beverage 7.2. E-commerce 7.3. Pharmaceuticals 7.4. Electrical & Electronics 7.5. Household 7.6. Shipping & Logistics 7.7. Printing 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Dynaric, Inc 18.2. StraPack, Inc. 18.3. Transpak Equipment Corp. 18.4. Signode Industrial Group LLC 18.5. Fromm Holding AG 18.6. ATS-Tanner Banding Systems AG 18.7. FELINS 18.8. Bandall International 18.9. Avi International Packaging Co. 18.10. The Plastic Strapping Company Ltd 18.11. Pack Machines Private Limited 18.12. Millenium Packaging 18.13. TPC Packaging Solutions 18.14. Soundpoen packing solution Co., Ltd 18.15. Cyklop 18.16. Kopack Enterprises 19. Assumptions & Acronyms Used 20. Research Methodology
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Banding Machine Market
