Shrink Wrap Equipment - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Shrink Wrap Equipment Market is expected to grow at a CAGR of 11.0% during the forecast period. Increased shelf-life of the product, ease of handling and transportation, and protected shipment of packaged goods are some of the factors propelling the growth of the market. However, the high initial investment is hampering the growth of the market.
Shrink wrap equipment is machines that are used to shrink plastic films over multiple bundled products by applying heat in shrink tunnel or shrink chamber. Shrink wrapping effectively provides barrier protection from dust, atmosphere and other contaminants to preserve the product quality. These machines are available in various forms depending upon the process of shrinking.
Based on the end-user, the pharmaceutical segment is anticipated to hold considerable market share during the forecast period as the flexibility of the side-seal shrink wrappers makes them the most ideal for pharmaceutical contract packagers who are required to pack a wide variety of packages. By geography, Asia Pacific is expected to grow at a significant market share during the forecast period due to the presence of huge retail and e-commerce market, increasing demand for packaged/shrink-wrapped frozen foods and transportation of food and beverages and high requirement for shrink wrapping machine.
Some of the key players profiled in the Shrink Wrap Equipment Market include U.S. Packaging & Wrapping LLC, Tripack LLC, ARPAC LLC (Duravant LLC), Standard-Knapp, Inc., PAC Machinery Group, MSK Verpackungs-Systeme GmbH, Lachenmeier ApS, Douglas Machine Inc., Conflex Incorporated, Aetna Group Spa, and Texwrap Packaging Systems LLC (Pro Mach Inc.).
• POF Film Shrink Machine
• PE Film Shrink Machine
End Users Covered:
• Industrial and Home
• Food & Beverage
• Personal Care
• Other End Users
Warp Equipment Types Covered:
• Fully Automatic
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
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- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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