Global Shrink Wrap Equipment Market is valued at approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX % over the forecast period 2022-2029. Shrink Wrap Equipment is used for shrinking the packaging of goods. It offers various advantages such as ease to handle, increased shelf life, easy handling, and eco-friendly. The Shrink Wrap Equipment market is expanding because of factors such as the rising E-commerce industry and growing food and beverage industry in the forecast period

According to UNCTAD in 2021, global e-commerce has jumped to around USD 26.7 trillion in 2019 with an increase of around 4 % from 2018 due to rising online sales. The Republic of Korea is the dominant region with shares of around 25.9 % in 2020. Also, the percentage of retail sales or online shares of the e-commerce industry across Australia, Canada, China, Singapore, the United Kingdom, and the United States is around 9.4 %, 6.2 %, 24.9 %,11.7%, 23.3%, and 14 %. Whereas rising demand to keep groceries fresh during transportation and growing spending on efficient packaging by end-user industries create lucrative opportunities for the market. However, higher initial costs and maintenance hamper the market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Shrink Wrap Equipment Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. The Asia Pacific dominated the market in terms of revenue, owing to the increasing food processing industry, rising demand by various end-user industries, and growing e-commerce industries. Whereas the Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as increasing public awareness towards packaging and demand for increased shelf lives and fresh products enhancing the market demand across the region in the forecast period.

Major market players included in this report are:

Texwrap Packaging Systems LLC (Pro Mach Inc.)

Standard-Knapp, Inc.

Aetnagroup S.p.A.

U.S. Packaging & Wrapping LLC

Conflex Incorporated

PAC Machinery Group

Douglas Machine Inc.

Lachenmeier ApS

Tripack LLC

PDC International Corp.

Recent Developments in the Market:

In May 2019, Aetnagroup purchased OCME. The consolidation strategy of the two industrial companies, ROBOPAC AND OCME, was implemented to allow AETNA GROUP to maximize technical, industrial, and commercial synergies in order to face new challenges.
In August 2019, Standard-Knapp, Inc. partnered _
has entered into a partnership agreement with EoL Packaging Experts (EoL), an international company specializing in end-of-line packaging solutions for the food and beverage industries. The merger has the potential to create a globally active industry leader in end-of-line packaging machinery and systems with a strong presence in both North America and Europe.
Global Shrink Wrap Equipment Market Report Scope:

Historical Data: 2019-2020-2021

Base Year for Estimation: 2021

Forecast period: 2022-2029

Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends

Segments Covered: End-user Industry, Region

Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World

Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By End-user Industry:

Food,

Beverages,

Pharmaceutical,

Industrial,

Logistics

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Rest of the World