"Rising Demand of Good Packaging Machines from Food and Beverage Industries is Driving Pallet Stretch Wrapping Machines Market"
Globally, the pallet stretch wrapping machines market is expected to grow with a CAGR of 5.4% during the forecast period from 2019 to 2027, and was recorded to have a market value of US$365.0 Mn in 2018. Pallet stretch wrapping machines are used for wrapping goods with the pallet. The goods are placed upon the pallet and are wrapped together, which increases the safety of the goods while shipping. Additionally, the pallet provides a support to the products and the items, which reduces the safety issues while transporting the material.
There are various factors driving the market; one of which is increasing demand from the food and beverage industry for pallet-wrapping machine. The food and beverage industry is growing rapidly with increasing delivery services and increasing safety issues concerning the stale food that needs effective packaging. The products can be damaged while transporting due to unstable wrapping. Therefore, the demand for the pallet stretch wrapping machine is increasing which leads to drive the market.
Market Synopsis
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"Pallet Stretch Wrapping Machines with Food & Beverage its End-Use Segment Continue Dominating the Market"
In 2018, the food & beverage segment that accounted for more than 1/4th market share of the overall market led the overall pallet stretch wrapping machines market. The food and beverage industries are growing with a rapid rate due to high demand of food products geographically, therefore the food products are needed to be shipped properly from one region to another by reducing the losses and damaged caused during the transportation. Therefore, the pallet stretch machines are used by the food & beverage industries.
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"Asia-Pacific Dominates the Market by Region"
The global pallet stretch wrapping machines market is led by Asia-Pacific due to increasing manufacturing, healthcare, automotive, consumer products, textile, chemicals and other industry in the region, which requires the machines to pack the whole system or the product over the pallet. The region acquires more than 30% of the market share. The wrapping of pallet and product together increases the safety for the product. Additionally, there are various key players in the region, which are investing in developing new technology and product.
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Some of the prominent players operating in the pallet stretch wrapping machines market includes Arpac LLC, Hangzhou Youngsun Intelligent Equipment Co. Ltd., Robopac SPA, Italdibipack S.p.A., Wulftec International Inc., Fromm Packaging Systems, Inc., Atlanta Stretch Spa, Tosa s.r.l., Phoenix Wrappers, Inc., Lantech, Inc., Fhope Packaging Machinery Co.,Ltd, Webster Griffin Ltd., Packway Inc., and Jia-in Industry Co., Ltd.
Historical & Forecast Period
This research report presents the analysis of each segment from 2017 to 2027 considering 2018 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segment calculated for the forecast period from 2019 to 2027.
Report Scope by Segments
The pallet stretch wrapping machines market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of global pallet stretch wrapping machines market based on machine type, end-use, order type and geography. Key segments covered in the report are as follows:
| ATTRIBUTE |
DETAILS |
| Research Period |
2017-2027 |
| Base Year |
2018 |
| Forecast Period |
2019-2027 |
| Historical Year |
2017 |
| Unit |
USD Million |
| Segmentation |
Machine Type Segment (2017–2027; US$ Mn)
• Automatic
• Semi-Automatic
|
|
End-Use Segment (2017–2027; US$ Mn)
• Food & Beverages
• Pharmaceutical
• Consumer Products
• Automotive
• Paper
• Textile
• Construction
• Chemical & Fertilizers
• Others
|
|
Order Type Segment (2017–2027; US$ Mn)
• Customized
• Standard
|
|
Geography Segment (2017–2027; US$ Mn)
• North America (U.S. and Rest of North America)
• Europe (U.K., Germany, France, and Rest of Europe)
• Asia Pacific (Japan, China, India, and Rest of Asia Pacific)
• Rest of World (Middle East & Africa (MEA), Latin America)
|
Key questions answered in this report
- What was the market size of pallet stretch wrapping machines in 2018 and forecast up to 2027?
- Which is the largest regional market food & beverage in end-use segment?
- What are the major trends followed in pallet stretch wrapping machines market across different regions?
- Who are the key pallet stretch wrapping machines companies leading the market?
- What are the key strategies adopted by the leading pallet stretch wrapping machines companies in market?
Unique data points of this report
- Statistics on pallet stretch wrapping machines penetration and spending worldwide
- Recent trends across different regions in terms of adoption of pallet stretch wrapping machines for various end-use.
- Notable developments going on in pallet stretch wrapping machines market
- Attractive investment proposition for segments as well as geography
- Comparative scenario for all the segments for years 2018 (actual) and 2027 (forecast)
