Stretch Wrappers Market Expanding At 5.8% CAGR; Thriving Food and Beverage Industries Enables Growth: Future Market Insights Study

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DUBAI, U.A.E, May 21, 2021 /PRNewswire/ -- The global stretch wrappers market is forecast to surpass the valuation of US$ 710 Mn by the end of 2031 projects ESOMAR-certified consulting firm Future Market Insights (FMI). Optimizing consumption with respect of resource availability is an area of improvement among market players. Small scale industries which cannot afford costly automatic stretch wrapping machine depend on manual packaging and daily wage labors. Availability of cheap labor in emerging economies is affecting the automatic stretch wrapping market. With rising cost and limited availability of raw materials, the automatic stretch wrapping is expected to grow in upcoming years.  Faster wrapping and reduced transportation or shipping cost benefits offered by automatic wrapping machine will accentuate the market growth.

Surging demand for pallet wrapping from pharmaceutical industries has created a lucrative opportunities for stretch wrappers market growth. Food and beverage sector still remains the largest consumer of stretched wrappers. The growing demand for protected and secure stretch wrapped pallet for safe transportation and stabilization of empty bottles and cans from manufacturing to filling stations will increase the market growth. Stretched wrapper also keeps the bottles clean from contamination. Rising consumer demand for spill and damage proof delivery of product will significantly increase the stretched wrapper market demand.

"Automatic stretch wrapper is proving to be a game changer in packaging industry as it reduces the overall cost of product and enhances the production capacity. It eliminates the need for skilled labor and can operate 24/7. These capabilities of automatic stretch wrapper machine will positively affect the market growth," says the FMI analyst

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Key Takeaways

• Italy houses the largest export tendency sector with nearly 300 industrial size companies located in the country. Rising adoption of advance automation and robotic packaging machinery will propel the market growth in Italy
• Presence of food and beverage products giants in US has significantly boosted the demand for stretch wrappers in the country. Growing preference towards atomized packaging and processing method will positively impact the market growth in US.
• Flourishing tissue and allied product industries in Germany and rising customer spending on eco-friendly tissues has boosted the stretched wrapper market demand.
• Competitive pricing and efforts to provide products at lower cost to capture market will boost the stretch wrappers market sales in China. Increasing production capacity of food and beverage and tissue products to cater the surging demand will boost the market demand in China.
• India is expected to rise as a profitable stretch wrapper market during the forecast period. Rising automation in manufacturing and packaging sector will increase the market demand in India.

Competitive Landscape

FMI has profiled some of the prominent market players providing stretch wrappers that include Reo-Pack A/S, Orion Packaging Systems LLC, Signode Industrial Group. LLC, Wulftec International Inc., Cousins Packaging Inc., UNITECH SRL, Innova Maquinaria Industrial S.L, DNC packaging Machinery, Strema B.V., FROMM Group, Messersì Packaging S.r.l., Technowrapp srl, Hangzhou Youngsun Intelligent Equipment Co., Ltd., Easypac Systems, PACKWAY INC, Phoenix Wrappers, Inc., Lantech, Inc., Millwood, Inc, Aetnagroup S.p.A., ARPAC LLC, Atlanta Stretch Spa, BEMA SRL, Tosa spa, Movitec Wrapping Systems SL, PAGLIERANI s.r.l., Matco International Gevelsberg GmbH, ATECMAA PACKAGING, Rees Machinery Group Ltd, K M Trivedi Engineering Pvt. Ltd., Multi Pack Machinery Company.

Industry leaders are developing customized stretch wrappers in an attempt to gain competitive advantage. They are expanding their product range by optimizing their production to satisfy the growing customer demands. Strategic acquisition is on the table for as a market expansion strategy among leading players. For instance, Aetnagroup S.p.A. acquired leading packaging machine manufacturers OCME S.r.l., in May 2019.

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More Insights on the Global stretch wrappers Market

Future Market Insights, in its new offering, provides an unbiased analysis of the stretch wrappers market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the stretch wrappers market with a detailed segmentation on the basis of machine type (turntable, ring, robotic, rotary arm), order type (customized, standard), end use (food and beverage, pharmaceuticals, tissue) across major regions (North America, Latin America, Asia Pacific Excluding Japan (APEJ), Western Europe, Eastern Europe, Middle East and Africa (MEA), Japan)

Key Questions Covered in the Report

• How will the market for stretch wrappers will expand through 2031?
• Which top manufacturing companies are leading the global stretch wrappers market?
• What are the key drivers and trends that will stimulate the stretch wrappers sales?
• What are the challenges that will affect the sales of stretch wrappers market?
• Which region will remain the most lucrative throughout the forecast period?
• What is the impact of Covid-19 on stretch wrappers market?

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