The flow wrap machines market size is expected to reach US$ 422 Million in 2032, and is likely to surge at a CAGR of 3.9% during the forecast period.
Packaging has become an indispensable solution owing to the growing concern among manufacturers with regards to product safety and increasing product attractiveness. Flow wrap machines provide effective packaging solution to products with various shape orientation including conical, cubical, cylindrical, etc.
Flexible packaging requirements across industries including food and beverage, industrial components, medical and pharmaceutical, cosmetics and personal care, etc. Flow wrap machines are used for speedy packaging of products. It has been used in flexible packaging of the products across several industrial verticals. Owing to its application across various industrial verticals, the flow wrap machine market is anticipated to grow over the forecast period.
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Flow wrap machines market: Dynamics
Industrial verticals that use flow wrap machines include food and beverages, pharmaceuticals, health care, beauty care, etc. Some of the factors that have contributed to increasing demand for flow wrap machines include cost-effectiveness, efficient packaging solutions attributed by the capability of packaging products of various shapes, sizes and weight.Due to its wide application across various industrial verticals, the global flow wrap machines market is expected to witness substantial growth throughout the forecast period.
The number of pharmaceutical companies is anticipated to increase by around 7.5% globally during the forecast period, which is expected to have a positive impact on growth of the global flow wrap machines market. Besides the pharmaceutical industry, the cosmetics and food & beverage ingredients industry accounts for a major demand for flow wrap machines across the globe.
Flow wrap machines are widely used for wrapping food products like biscuits, cookies, candies, etc. Besides, it is also used in wrapping soaps and detergents, syringes and other medical devices, electronic products, etc. enabling longer shelf life of the product. Using flow wrap machines in pharmaceuticals, health care, food and beverages helps in ensuring fast and efficient packaging of the products.
Flow wrap machines are efficient packaging solution that is used for large, high volume packaging needs. These are some of the major factors driving the growth of the global flow wrap machines market. However, the dependence on the machines requires additional sources like electricity, fuel, etc., which leads to an additional production cost, which could restrain the adoption of flow wrap machines and in turn hamper the market growth.
Flow wrap machines market: Region-wise Outlook
The flow wrap machines market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa
The increasing production of food and beverages in North America is anticipated to create opportunities for flow wrap machines market over the forecast period. Over the past few decades, Asia Pacific has emerged as a hub for pharmaceutical industries, and demand for flow wrap machines is further expected to increase between 2016 and 2024.
Currently, India and China collectively account for three-fourth of the overall revenue generated from the pharmaceuticals market in Asia Pacific therefore, the demand for flow wrap machines in these regions is anticipated to be relatively high and the trend is expected to continue over the forecast period.
However, revenue from the markets in Latin America and Middle Eastern countries is sluggish currently due to stagnant economy which is also expected to translate into lower demand for flow wrap machines in these regions.
Flow wrap machines market: Key Players
The key players in the flow wrap machines market include Redpack Packaging Machinery, Excel Pack Limited, PAC Strapping Products, Inc., Adhisakthi Projects Private Limited., ULMA Packaging S Coop, Pfm Packaging Machinery Ltd, Robert Bosch GmbH, Omron Corporation.
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Flow wrap machines market: Segmentation
The flow wrap machine market is segmented as follows:
On the basis of orientation, the flow wrap machines market is segmented into:
Based on end use industry, flow wrap machines market is segmented into:
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