The global flow wrap machines market is estimated to be US$ 288.0 million in 2023 and is expect to reach US$ 422.2 million by 2033. The sales of flow wrap machines are expected to record a CAGR of 3.9% during the forecast period.
Key Takeaways:
- North America is estimated to lead the global market by registering a share of 16% by 2033.
- Asia Pacific is anticipated to be a rapidly growing region in the global market by 2033.
- Based on orientation, horizontal flow wrap machines are anticipated to dominate the global during the forecast period.
- Based on end users, the food & beverages industry is predicted to capture a sizable market share by 2033.
The rapidly growing pharmaceutical firms with flexible packaging solutions are advancing the global market revenue. Sustainable packaging is another crucial factor in reducing environmental impacts and offering product appeal on safety. Adopting flow wrap machines provides adequate packaging for several items with different shapes, including cylindrical, conical, and cubical.
According to Future Market Insights, increasing end-use industries such as industrial components, pharmaceuticals, medical, and food & beverages are expanding flexible packaging solutions. The flow wrap machines can get things done and provide better experiences to end users.
These machines deliver excellent performance and are well-built with little electricity consumption. The popularity of flow wrapping is widely increasing in pharmaceuticals due to its automatic and programmable features.
Prominent Drivers Spearheading the Market Growth
The increasing demand for efficient and cost-effective solutions to wrap diverse size and shapes of items are increasing the adoption of flow wrap machines. These machines are significantly growing with vast applicability among several industries for packaging purposes.
Pharmaceutical businesses are expanding with a share of 7.5% globally, positively impacting global market growth. Cosmetics and food & beverages are also advancing the global market by surging the demand for flow wrap machines.
Essential companies are adopting flow packaging machines for wrapping candy, biscuits, soaps, detergents, and other items to enhance products’ shelf life. These packaging solutions are effective, significant, and require a high volume that attracts end users’ needs. These prominent factors contribute to a vital role in the global market.
Challenges Faced in the Flow Wrap Machines Industry
Cost Pressure: Manufacturers face challenges in developing and maintaining flow wrap machines. Consumers prefer high-quality, flexible, and efficient appliances at affordable prices. Due to its high cost, the demand for flow wrap machines limits the market growth.
Environmental Concerns: Growing awareness related to environmental impacts are increasing the adoption of eco-friendly packaging. The need for more reliable and safe packaging solutions is restraining the global market size.
Region-wise Analysis
Asia Pacific Emerging as an Opportunistic in the Global Market
Asia Pacific is significantly emerging in the global market. Rapidly expanding pharmaceutical companies, packaging industries, and food & beverages sector are fueling the market size. China and India are accounting for higher revenue in the Asia Pacific through the pharmaceutical industry.
The pharmaceutical sector continuously increasing the demand for flow wrap machines, with a substantial share in the Asia Pacific market. The growing economies, rising demand for packaging products, and promoting sustainability are expanding the Asia Pacific market.
The wide range of industries requires flow wrap machines for versatile and enhanced packaging experiences. Changing consumer lifestyles, urbanization in Asia Pacific countries, and increasing demand for packaged goods are upsurging market growth. Retailers and hypermarkets are increasingly adopting convenience packaging to protect their interests.
Overview of Flow Wrap Machines Sales across North America
North America dominates the global market due to growing end-use industries, with a share of 16% by 2033. The rising demand for high-quality packaging of various products attracts end-user requirements in North America. Flow wrap machines are widely used for accurate cutting, better sealing, and enhanced performance to meet consumers’ needs.
The integration of automotive technology in the flow wrap machines is increasing the North America flow wrap machines market trends. Manufacturers are providing eco-friendly solutions with automation systems to increase industrial processes. Present essential players are generating huge revenue in the North American market through their advanced, improved, and innovations.
Market Competition
Various local and regional vendors fragment the global market. These vendors significantly fuel the global market by adopting marketing tactics, including mergers and acquisitions, expansions, and partnerships. These vendors invest considerable research and development activities in uplifting the global market.
Some key participants 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, and Omron Corporation, among others.
These insights are based on a report Flow Wrap Machines Market by Future Market Insights.
