2024 Packaging Tensioner Market Report: Size Insights and Industry Overview

The Business Research Company recently released a comprehensive report on the Global Packaging Tensioner Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The packaging tensioner market size has grown steadily in recent years. It will grow from 1.03 billion in 2023 to $1.07 billion in 2024 at a compound annual growth rate (CAGR) of 4.3%. The growth in the historic period can be attributed to the Industrial Revolution, material advancements, the growing automotive industry, global trade expansion, consumer goods boom, rising demand for pharmaceutical products, and growing worker safety concerns.

The packaging tensioner market size is expected to see steady growth in the next few years. It will grow to $1.28 billion in 2028 at a compound annual growth rate (CAGR) of 4.5%. The growth in the forecast period can be attributed to rising market demand for packaged goods, the expansion of e-commerce, technological advancements, regulatory changes, supply chain dynamics, and industry growth. Major trends in the forecast period include automation and smart technology, sustainability and eco-friendly materials, ergonomic design, digital connectivity, energy efficiency, and enhanced safety features.

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Market Drivers and Trends:

The expansion of e-commerce is expected to propel the growth of the packaging tensioner market going forward. E-commerce refers to buying and selling goods and services over the internet, typically through websites and online platforms. The increase in e-commerce is driven by convenience, wider product selection, competitive pricing, and shifting consumer preferences toward online shopping. Packaging tensioners are used in e-commerce to secure goods during transit, preventing damage and ensuring product safety. They help maintain package integrity, enhancing customer satisfaction by delivering items in perfect condition. For instance, in May 2024, according to the United States Census Bureau, a US-based government agency, U.S. retail e-commerce sales for the first quarter of 2024, after adjusting for seasonal variation, reached $289.2 billion, marking a 2.1 percent (±0.7%) increase compared to the fourth quarter of 2023. Therefore, the expansion of e-commerce is driving the growth of the packaging tensioner market.

Pharmaceutical Packaging Requirements Fuel The Packaging Tensioner Market

The growing pharmaceutical packaging requirements are expected to propel the growth of the packaging tensioner market going forward. Pharmaceutical packaging refers to the process of securely enclosing pharmaceutical products in suitable containers to ensure their protection, integrity, and stability throughout storage, transportation, and use. The need for pharmaceutical packaging is rising due to increasing global healthcare demands, stringent regulatory requirements, and the need for safe and efficient drug delivery systems. Packaging tensioners are used in pharmaceutical packaging to securely strap and seal containers, ensuring product integrity and compliance with safety standards. For instance, in June 2023, according to the European Federation of Pharmaceutical Industries and Associations (EFPIA), a Belgium-based trade association representing the pharmaceutical industry, the total pharmaceutical production in Europe accounted for $384,200 million (€340,000 million) in 2022, an increase of approximately 4.95% from 366,267 million (€323,950 million) in 2021. Therefore, growing pharmaceutical packaging requirements are driving the growth of the packaging tensioner market.

Major companies operating in the packaging tensioner market are developing innovative products, such as battery-operated tensioners, to enhance efficiency, reduce manual effort, and improve user safety in the packaging process. Battery-operated tensioners are devices used in packaging to apply tension to strapping materials such as polypropylene or polyester. For instance, in February 2022, Signode, a US-based manufacturer of packaging equipment and tools, launched its new BPT Steel Strapping Hand Tool. This battery-operated tool has a balanced and lightweight design, making it suitable for various steel strapping applications, including heavy-duty stationary or mobile applications that require high-tension force. The BPT Steel Strapping Hand Tool is a specialized packaging tensioner and sealer designed for steel strapping applications, offering advanced features and capabilities compared to traditional manual or pneumatic tools.

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Major Key Players of the Market:

Uline Inc., Samuel Packaging Systems Group, MJ Maillis Group, Lantech, Polychem Corporation, Signode Industrial Group, Dynaric Inc., EAM-Mosca Corporation, Cyklop International, Schneider Packaging Equipment Co., Inc., ATS-Tanner Banding Systems AG, Orgapack, Highlight Industries, Inc., Plasticband S.A., MeadWestvaco Corporation (MWV), Fromm Packaging Systems, Packline USA, StraPack Inc., Phoenix Wrappers, Transpak Equipment Corp., Venus Packaging, Cousins Packaging Inc., Felins USA Inc., Complete Packaging Systems, Get Packed Pty Ltd, ITATOOLS Srl

Packaging Tensioner Market 2024 Key Insights:

• The packaging tensioner market size is expected to see steady growth in the next few years. It will grow to $1.28 billion in 2028 at a compound annual growth rate (CAGR) of 4.5%.
• Increasing E-Commerce Sales Fuels Packaging Tensioner Market
• Innovative Advances In Battery-Operated Packaging Tensioners
• North America was the largest region in the packaging tensioner market in 2023

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