Vertical Wrapping Machines Market: Overview
Packaging has developed as a crucial element that stores and protects the products during the complex and prolonged supply chains to reach customers across various geographies. Manufacturers that operate in the packaging/wrapping machines market have to consider the interactive properties as well as the level of packaging while implementing novel design and advanced technology in the course of packaging. Nowadays, wrapping films is the preferred packaging solution and thus the wrapping machines, especially the vertical wrapping machines, generate a great demand in wrapping the products of random sizes. Vertical wrapping machines are reliable, easy to operate and provides more flexibility in the wrapping of wide variety & sizes of stretch packaging films. The Vertical wrapping machines market has experienced substantial changes over the last two decades owing to the developments in the packaging industry.
Vertical Wrapping Machines Market: Drivers & Restraints
Growing efficiency in comparison to traditional methods coupled with lessened work fatigue is the major driving factor for vertical wrapping machines to gain traction in the market. Additionally, vertical wrapping machines reduce the labor costs and also leads to reduced work injury– as it simplifies the process of loading pallets onto a machine on just a press of a button – and is thus expected to fuel the vertical wrapping machines market during the forecast period. Moreover, reduction in material, as well as product cost with the use of vertical wrapping machines, is also expected to fuel the market over the forecast period. However, on the other hand, the initial capital investment such as higher installation cost is the key factors that are likely to hamper the growth of the global vertical wrapping machines market over the forecast period. Furthermore, noisy operation leading to higher maintenance costs are also expected to hinder the global vertical wrapping machines market over the forecast period.
Vertical Wrapping Machines Market: Segmentation
The vertical wrapping machines market is segmented as follows
On the basis of machine type, the vertical wrapping machines market is segmented into:
- Manual machines
- Semi-automatic machines
- Automatic machines
On the basis of end use industry, the vertical wrapping machines market is segmented into:
- Food and beverage industry
- Pharmaceutical industry
- Consumer goods
- Logistics industry
Vertical Wrapping Machines Market: Regional Overview
Geographically, the vertical wrapping machines market is segmented into seven regions, namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and the Middle East and Africa (MEA).
The wrapping machines market in Europe and North America are rather in a mature stage and are thus likely to lose a considerable share to Asia Pacific region. Key players that currently operate in Europe & North America region have shifted their focus towards mergers & acquisition with local established players in the APAC region. The Asia-Pacific market is projected to develop as the most lucrative market for films packaging which ultimately results in the growth of vertical wrapping machines market. This increase is also attributed to the growth in the packaging of food & beverages, consumer products, Electronic appliances and pharmaceuticals products from the developing economies such as India and China. Latin America and Middle-east & Africa region are expected to show a positive rate of growth over the forecast period. Higher demand for packaging for food and beverages products, industrial goods, pharmaceutical etc. are some of the primary reason for the growth of vertical wrapping machines in this region.
Overall, the vertical wrapping machines market is estimated to witness a healthy CAGR over the forecast period.
Vertical Wrapping Machines Market: Key Players
Some of the key players that operate in the vertical wrapping machines market across the globe are FROMM Holding AG., Aetna Group Spa., ARPAC LLC., Imanpack Packaging and Eco Solutions S.p.A., Texwrap Packaging Systems llc., ULMA Packaging S Coop., FUJI MACHINERY CO.,LTD., G.G. Macchine S.r.l. and many more.
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