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According to a new report Global Wrapping Machine Market, published by KBV Research, The Global Wrapping Machine Market size is expected to reach $4.2 billion by 2025, rising at a market growth of 6.7% CAGR during the forecast period. Wrapping machine market is growing with emergence of a wide range of factors. These factors include customer preference for convenient, processed, packaged, and ready-to-eat food products. In addition to this, there is an increase in the demand from the food & beverage sector, which has also fuelled the demand for wrapping machine market.
The stretch machine segment held a dominant share in the market in 2018 and is expected to maintain its dominance over the forecast period as well. Technological advances, increased demand from application industries and the need for product-based packaging are among the trends that are expected to create stability in the segment. The Shrink Wrapping Machine market is anticipated to witness a CAGR of 7.1% during (2019 - 2025).
The automatic mode of operation is expected to record the highest growth rate over the forecast period. Industrial growth, process automation, industry 4.0 acceptance, and other technological advances are expected to stimulate demand for automated wrapping machines over the forecast period. The Semi-Automatic Wrapping Machine market is experiencing a growth rate of 3.3% during (2019 - 2025).
The food application segment recorded the largest market share in 2018. That being said, over the forecast period, the beverage segment is likely to exhibit the highest growth rate. Satisfactory growth in the food and beverage industry, especially in Asia Pacific, Central and South America, and the Middle East, over the forecast period is expected to act as a market driver. The Beverages Industry market showcases prominent growth rate of 5.7% during (2019 - 2025). Additionally, The Personal Care market is expected to witness highest CAGR of 7.8% during (2019 - 2025).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of IMA Group, Duravant LLC, BEUMER Group GmbH & Co. KG, Lantech LLC, ProMach, Inc., Maillis Group S.A. (H.I.G. Capital LLC), Robert Reiser & Co., Inc., Aetna Group S.p.A., Atlanta Stretch SpA and American Packaging Machinery, Inc.
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