Global Shrink Wrapper Market on a Growth Trajectory: Forecasted to Exceed US$ 1,685.7 Million by 2032 with a 7.2% CAGR

The Shrink Wrapper Market is witnessing substantial growth as industries seek efficient and cost-effective packaging solutions. Shrinkwrapping technology offers secure and tightly sealed packaging, ideal for various products in food, beverages, pharmaceuticals, and more. The market's evolution is driven by the rising demand for product protection, preservation, and improved shelf appeal.

With advancements in automation and film technology, shrink wrappers provide high-speed and customizable packaging solutions to meet diverse industry needs. As manufacturers focus on optimizing packaging processes and reducing material waste, the Shrink Wrapper Market continues to expand, offering reliable and versatile packaging solutions in an increasingly competitive global market.

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As per the recently published report on the shrink wrapper market by Future Market Insights (FMI), sales of shrink wrappers are estimated to increase 2.1 times of the current value by the end of 2032. Growth can be attributed to the numerous benefits offered by shrink-wrapping machines. Many industries are switching from traditional packaging to automation and time-saving packaging approaches.

As per the FMI survey, 63% of the end-use industries including food & beverage, consumer goods, and others are adopting shrink wrappers as they optimize the lead time and increase production level.

Additionally, the shrink wrappers are expected to outpace stretch wrappers in next five years. Unlike stretch films, shrink films used in the wrapping machine shrinks according to the shape of the product being packaged when heat is applied, and it gives a glossy and enhanced look.

Therefore, shrink wrappers are primarily preferred in the industries where end users want to display the product on shelf stores. Furthermore, to increase impulse purchase of the products, printed shrink wrap is gaining significant traction. On the back of above-mentioned benefits, the global shrink wrapper market is estimated to witness lucrative growth opportunities during the assessment period.

The demand for automatic shrink wrapper machines is expected to gain momentum as these machines offer an efficient and a fast way to bundle the product packaging, and are equipped with a PLC control system and safety protection.

Automatic shrink wrapping machines are easy to operate and maintain, and they automatically perform the scraps discharge process. These machines are widely used for packaging various products with different shapes and sizes. Shrink packaging helps to reduce production output time and the cost of safe packaging material. These factors are driving the demand for the shrink wrappers across the globe.

"Increase in the consumption and production of packaged food, along with rising demand for frozen foods are expected to propel the shrink wrapper market," says an FMI analyst.

Key Takeaways:

By product type, L-bar sealers are expected to hold more than 2/5th of the total market share by 2032.

Based on end-use industry, the food and beverage segment is forecast to hold 34% of the total market share by 2032.

Consumption of shrink wrappers in food and beverage industry is expected increase 1.9 times of the current consumption value by 2032.

Sales in the U.S. shrink wrapper market are expected to increase at a 5.8% CAGR over the assessment period.

India will emerge as a lucrative pocket, with demand projected to grow at an 8.3% CAGR through 2032.

Shrink Wrapper Market Landscape

The shrink wrapper market is expected to witness tough competition due to the increasing number of market participants across various nations. The demand for packaging formats that cut down the lead/processing time and ensure contamination-free packaging is creating significant opportunities for key players.

Some of the estimated leading players of the shrink wrapper market include Shorr Packaging Corp., Texwrap Packaging Systems LLC, nVenia LLC, Eastey Enterprises Inc., Standard-Knapp, Inc., Shrinkwrap Machinery Co. Ltd., Klikwood Corporation, Sidel Group, Robopac-Aetna Group S.p.A, and Clearpack.

Shrink Wrapper Market Report

Future market insights, in its new report, offers an unbiased analysis of the global market for shrink wrapper market by product type (L-bar sealers, I-bar sealers and side sealers), by process (manual, semi-automatic and automatic), by end use industry (food & beverage, pharmaceutical, cosmetics & personal care, home care, automotive, electrical & electronics, and logistics & transportation) across seven regions.

About the Packaging Division at Future Market Insights

The packaging division at Future Market Insights provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, packaging machinery to packaging designs & formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 1,000+ reports, the team has analysed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.

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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

This release was published on openPR.