According to the business intelligence report titled ‘Global Wrapping Machine Market Size study, by Machine Type (Stretch, Shrink, Others), Mode of Operations (Automatic and Semi-automatic) Application (Beverages, Food, chemicals, Personal care, Pharmaceuticals, Others) and Regional Forecasts 2020-2027’, available with Market Study Report, global wrapping machine market was assessed at USD 2.85 billion in 2019 and is speculated to amass USD 4.79 billion by 2027, expanding at 6.7% CAGR between 2020-2027.
 

Growing population, with increase in spending capacity and rising household income have boosted demand for food & beverages which is a key factor driving global wrapping machine market growth. As per Statista, in 2019, the U.S. had the largest wrapping paper production capacity of 52.5 million metric tons, followed by Japan with a production capacity of 13.5 million metric tons per year.
 

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For the unaware, wrapping machine is an electrical equipment used to wrap or roll up products in the form of cylindrical rolls by folding and gluing or using heat sealing.
 

While swift industrialization, growing investments in food & beverage sector, and rising infrastructural development will facilitate industry growth, increasing consumer inclination towards fresh food will act as a restraint for the businesses operating in this domain.
 

Based on machine type, the industry is divided into shrink, stretch, and others. Speaking of operation mode, worldwide wrapping machine market sphere is bifurcated into semi-automatic, and automatic. Moving on to application scope, the business space is fragmented into beverages, chemicals, food, pharmaceuticals, personal care, and others.
 

Regionally speaking, Asia Pacific captured majority of global wrapping machine industry share in the past year due to proliferation of pharmaceutical and food & beverage verticals. Meanwhile, North America is anticipated to witness considerable expansion between 2020-2027 due to infrastructure development, favorable government policies & regulations, and technological developments.
 

Key players profiled in the report are Robert Bosch GmbH, Duravant LLC, Aetna Group, Maillis Group, Lantech, Atlantic Corporation, Beumer Group GmbH & Co. KG, Robert Reiser & Co. Inc., Pro Mach Inc., and Tetra Laval International SA. These companies have undertaken strategic moves like investments in R&D, mergers & acquisitions, partnerships, collaborations, and alliances to maximize profits and expand customer reach.