Shrink Wrap Packaging Systems Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024
- Transparency Market Research
Many of the products in today’s era require different style of packaging that must be flexible and even attractive. Shrink wrap packaging is an ideal solution for packing uneven shape objects with flexibility and ease. Shrink wrap is a process under which the product to be packed is covered with a shrink film, which is then heated so that it shrinks on the product. The shrink film is a polymer plastic film made of PVC, polyethylene, polypropylene, or polyolefin. Mostly Polyolefin with different thickness, strength, clarities, and shrink ratios is used as a shrink film. The film is heated with the help of a handheld gun, or the product along with the film is passed through the heating tunnel on a conveyor. Shrink wrap packaging serves the purpose of keeping the product stable and clean, and also helps make it tamper resistant. Shrink wrap packaging is used as an overwrap on boxes, cartons, pallet loads, and beverage cans. It is also used as a primary covering in many food items such as meats, cheese, plants, and vegetables. There are various shrink wrap packaging systems available in the market, which are equipped with different technologies such as sleeve wrappers, side sealers, shrink tunnels, and L-sealers.
The ever expanding food industry and the safety concerns related to products during their transit are factors expected to bolster growth of the shrink wrap packaging systems market over the forecast period. Over the years, there has been a modest rise in application of shrink wrap packaging in industrial equipment. Thus, surge in industrialization in turn is expected to contribute towards growth of the shrink wrap packaging systems market over the forecast period. Shrink wrap is also used to wrap roofs after any natural disaster, such as earthquakes, hurricanes, tornadoes, which is a major beneficial feature that is expected to propel growth of the shrink wrap packaging system market in the near future. However, there are other substitutes available for shrink wrap packaging, such as vacuum packaging, which are equally reliable and effective; this may hamper growth of the shrink wrap packaging systems market over the forecast period. Also, the shrink wrap packaging process is risky, and the person handling the system needs to be cautious as the shrinking involves heating the material up to a high temperature, a factor which again could slowdown growth of the shrink wrap packaging systems market over the forecast period.
Increasing consumer concerns over healthy and hygienic food are expected to create major growth opportunities for players operating in the global shrink wrap packaging systems market over the forecast period. Also, the food industry experts are trying to differentiate their products from their competitors by providing a robust and unitized packing format in the form of shrink wrap packaging. Due to the flexibility and easy handling features of the shrink wrap packaged products, shrink wrap packaging has become a preferred consumer choice in the global packaging industry. The global shrink wrap packaging system market is anticipated to expand at a single digit CAGR over the forecast period.
The global shrink wrap packaging systems market can be segmented on the basis of technology, type, application, and end-use industry. On the basis of technology, the global shrink wrap packaging systems market can be segmented as automatic, semi-automatic, fully-automatic, manual. On the basis of type, the global shrink wrap packaging systems market can be segmented into sleeve wrappers, L-sealers, side sealers, lap sealers and shrink tunnels. On the basis of application, the global shrink wrap packaging systems market can be segmented into trays, books, beverages, sleeve, sachet, cardboard box, and others. On the basis of end-use application, the global shrink wrap packaging systems market can be segmented into pharmaceuticals, food & beverages, automotive, consumer products, printing and health & beauty.
By geography, the global shrink wrap packaging systems market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Currently, Asia Pacific accounts for the maximum share of the shrink wrap packaging system market, owing to the ever increasing food industry in this region. In terms of demand for shrink wrap packaging system, the market in Asia Pacific is expected to be followed by North America, in view of the surge in industrialization and other economic factors in the region. Europe is also expected to be a major contributor to the growth of the shrink wrap packaging systems market over the forecast period, because of the bolstering meat market and other increasing frozen food items packaging requirements in the countries such Germany and Italy. Meanwhile, the Latin America shrink wrap packaging systems market is also expected to develop at a rapid pace. The Middle East & Africa market, on the other hand, is at a nascent stage.
Some of the key vendors identified across the value chain of the global shrink wrap packaging systems market include: Saitech Inc, Texwrap Packaging Systems, Arpac LLC, Shrinkwrap Machinery Co. Ltd, Gebo Cermex, Yorkshire Packaging Systems, and Extreme Packaging Machinery.
This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
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