The sales of shrink-sleeve wrapping machinery are likely to grow at an average CAGR of 5.5% during the forecast period. The shrink-sleeve wrapping machinery market size is projected to be valued at US$ 15.19 Billion in 2022 and is expected to surpass US$ 25.95 Billion by 2032.
| Report Attribute | Details |
|---|---|
| Shrink - Sleeve Wrapping Machinery Market Value (2022) | US$ 15.19 Billion |
| Shrink - Sleeve Wrapping Machinery Market Forecast Value (2032) | US$ 25.95 Billion |
| Shrink - Sleeve Wrapping Machinery Market CAGR (2022 to 2032) | 5.5% |
The adoption of packaging solutions, e-commerce logistics, and food and beverage packaging solutions are all on the rise due to the demand from various SMEs. However, the large enterprises that employ pallet wrapping solutions highly need automation equipment.
Furthermore, a sizeable portion of the global shrink-sleeve wrapping machinery market is taken up by multinational corporations based in developed countries like North America, Europe, and other places.
It is anticipated that major manufacturers are likely to relocate their production facilities to emerging markets, including Asia Pacific, Central, and South America, the Middle East, and Africa. By making this change, they want to increase their sales and service networks in these areas and capture a larger shrink-sleeve wrapping machinery market share.
Players in the shrink-sleeve wrapping machinery market are spending a lot of money on enhancing their R&D skills as well as concentrating on obtaining pertinent industry insights and consumer trends that aid in formulating corporate plans.
Such actions may provide businesses with a competitive edge over rivals. Moreover, companies in the shrink-sleeve wrapping machinery sector are becoming more engaged with launching strategies like targeted marketing, CSR initiatives, etc., as a way to increase their global prominence.
Several prominent market participants in the global shrink-sleeve wrapping machinery manufacturers are concentrating more on forming successful joint ventures, acquisitions, or partnerships to increase their respective consumer bases. By being able to serve their assigned target bases both domestically and abroad, companies stand to increase them.
Over the projection period, this factor, together with promising developments in developing countries from the Asia-Pacific region, including India, China, Taiwan, Indonesia, etc., are anticipated to increase the commercial opportunities for shrink-sleeve wrapping machinery manufacturers.
By cutting trade taxes and levies, governments in developing nations like India, China, Taiwan, and Indonesia, among others, are introducing measures to entice international investors to the corresponding industrial sectors and create more employment.
Furthermore, some of the world's rising economies are showing significant progress when it comes to boosting the food industry. Additionally, as the markets for this wrapping equipment are among those most impacted by packaged food and beverages, it can be predicted that these rising nations are likely to witness growth in the adoption of shrink-sleeve wrapping machinery during the forecast period.
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Global FMCG market online sales grew by 26% in 2016, revealed by Kantar Worldpanel’s quarterly FMCG E-commerce Index. FMCG goods have limited shelf life and costs low. This necessity has led the global FMCG manufacturers to look for efficient and low-cost packaging and packaging systems.
The large volumes of FMCG goods have to be bundled in a faster way. Shrink-sleeve wrapping machines are used to wrap the polyethylene (PE) shrink films around the group of products both similar and non-similar. PE films can be printed or non-printed or clear or opaque.
When heat is applied the film will hold the bundle tightly. Global shrink-sleeve wrapping machinery market is growing at a healthy phase. In last decade the major innovations have happened to improve the performance and speed of these machines.
Manufacturers of shrink-sleeve machinery are striving to improve the machine’s performance furthermore. Growing worldwide consumer goods consumption levels directly or indirectly driving the shrink-sleeve machinery market.
Globally shrink - sleeve wrapping machinery market is witnessing a healthy growth due to increased demand for high speed and low-cost shrink-sleeve wrapping by FMCG industry players. FMCG industries are labor intensive and the labor cost constitutes the large part of the operating costs.
Shrink-sleeve wrapping machines help the FMCG manufacturers to cut down the labor cost. FMCG players may outsource the packaging to contract fillers or packaging companies. This may result in huge packaging cost charged by contract fillers or packaging companies.
To avoid this FMCG manufacturer started in-house packaging using machines such as high-speed shrink-sleeve wrapping machinery. Shrink-sleeve wrapping machinery available in the variety of models. The flexibility in bundling different products and the changeover times are still to be improved.
Still, more than 60% of the installed machines worldwide requires the manual placing of the products on the conveyer belt. A fully automated low-cost shrink-sleeve wrapping machines segment will be the next big opportunity for shrink-sleeve wrapping machinery manufacturers.
Growing raw material inflation is the restraint for the growth of shrink-sleeve machinery market. Steel, aluminum, and plastic are used as the major raw materials in the manufacturing of shrink-sleeve wrapping machines.
Principal Consultant
The global shrink - sleeve wrapping machinery market is segmented on the basis of product type, technology, performance and end user industries. On the basis of product type, the global shrink - sleeve wrapping machinery market is segmented into intermittent motion shrink-sleeve machines, continuous motion shrink-sleeve machines.
On the basis of technology, the global shrink - sleeve wrapping machinery market is segmented into automatic and semi-automatic. On the basis of end use industries, the global shrink - sleeve wrapping machinery market is segmented into food & beverages, personal care & cosmetics, home care, pharmaceuticals and others.
Food & beverages are expected to dominate the global shrink-sleeve wrapping machinery market. Pharmaceuticals is the other attractive segment to look for.
Shrink - sleeve wrapping machinery market has been segmented on the basis of the region into North America, Latin America Eastern Europe, Western Europe, Asia Pacific Excluding Japan (APEJ), Middle East & Africa (MEA), and Japan. Shrink - sleeve wrapping machinery market in Western Europe is dominating the global shrink-sleeve machinery market.
The matured markets like Germany, Italy, and France are contributing to this fact. In APEJ China and Korea are expected to drive the regional growth over the forecast period. Many APEJ countries like India and China have small players but large in number.
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Some of the players in the global Shrink - Sleeve Wrapping Machinery market are Polypack, 3M Company, Texwrap, Packaging Systems, ARPAC LLC, Axon, Duravant, Eastey Enterprises, Kliklok-Woodman, Massman Automation Designs LLC, PakTech, PDC International Corp, Standard-Knapp Inc., Gebo Cermex and Tripack, Shrinkwrap Machinery Co. Ltd., etc.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis and Forecast 6.1. Product Type 6.2. Technology 6.3. End User Industries 7. Global Market Analysis and Forecast, By Product Type 7.1. Intermittent motion shrink-sleeve machines 7.2. Continuous motion shrink-sleeve machines 8. Global Market Analysis and Forecast, By Technology 8.1. Automatic 8.2. Semi-automatic 9. Global Market Analysis and Forecast, By End User Industries 9.1. Food & beverages 9.2. Personal care & cosmetics 9.3. Home care 9.4. Pharmaceuticals 9.5. Others 10. Global Market Analysis and Forecast, By Region 10.1. North America 10.2. Latin America 10.3. Europe 10.4. Asia Pacific 10.5. Middle East & Africa 11. North America Sales Analysis and Forecast, by Key Segments and Countries 12. Latin America Sales Analysis and Forecast, by Key Segments and Countries 13. Europe Sales Analysis and Forecast, by Key Segments and Countries 14. Asia Pacific Sales Analysis and Forecast, by Key Segments and Countries 15. Middle East & Africa Sales Analysis and Forecast, by Key Segments and Countries 16. Sales Forecast by Product Type, Technology, and End User Industries for 30 Countries 17. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 18. Company Profile 18.1. Sleeve Wrapping Machinery market are Polypack 18.2. 3M Company 18.3. Texwrap 18.4. Packaging Systems 18.5. ARPAC LLC 18.6. Axon 18.7. Duravant 18.8. Eastey Enterprises 18.9. Kliklok-Woodman 18.10. Massman Automation Designs LLC 18.11. PakTech 18.12. PDC International Corp 18.13. Standard-Knapp Inc. 18.14. Gebo Cermex and Tripack 18.15. Shrinkwrap Machinery Co. Ltd.
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Shrink - Sleeve Wrapping Machinery Market
