A significant increase in the demand for battery-operated packaging tensioners from e-commerce and logistics industries owing to the rapid growth of industries will facilitate the market growth in forecasted years. Packaging Tensioner to Witness US$ 1.6 Bn Market Opportunity as Demand in Food & Beverage Industry Grows
NEWARK, Del, July 13, 2022 (GLOBE NEWSWIRE) -- As per Future Market Insights (FMI), the packaging tensioner market is projected to grow at 4.8% CAGR between 2022 and 2032, surpassing a valuation of US$ 1.6 Bn by 2032. A packaging tensioner is the cord strap packaging tool used in different packaging industries to seal the strap tightly to have a longer shelf life. This tool secures a package or pallet of products by tightening bands of flat steel or plastic around it and fastening them together.
Packaging tensioners are made from heavy material, which helps them work at optimum capacity for a longer duration. It can also secure straps at difficult and odd angles and are suitable for a wide range of horizontal and vertical strapping applications to secure the load.
A packaging tensioner is extensively utilized in the packaging industry used in multiple applications such as consumer goods, merchandise products, food and beverages. Strapping the product during shipment adds an element of additional containment to packaging, as it provides extra strength to the packaging.
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The protection of merchandise products requires a tensioner to hold, combine and stabilize the product. These tools are most commonly used for transporting packed goods when the machine forms a strap or band that binds the products or goods together.
Over the projected period, the rising need for safe shipping of various products from end use segment such as food and beverages, logistics, etc. are accelerating the demand for packaging tensioner market.
Key Takeaways from Packaging Tensioner Market
By material, plastic tensioners are expected to hold almost 60.4% of the market share by 2032 due to its lightweight and elongation, which allows them to stretch tighter when needed.
The battery-operated packaging tensioner is expected to accelerate at a CAGR of 5.1% between 2022 and 2032 as it allows to strap up more packages and save business time compared to manual tensioners.
India packaging tensioner market is expected to grow 2.0 times of its size by the end of 2032.
The U.S. packaging tensioner market is expected to witness incremental $ opportunity of US$ 37.4 Mn by the end of forecast period.
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“The rising industrial automation coupled with increasing demand for effective packaging solutions along with growth in various end use industries such as food & beverage, industrial logistics & warehouse is expected to create market opportunities for the packaging tensioner market.” – Comments FMI analyst
Increasing Demand for Corrugated Box Packaging in Various Industries is Giving Rise to Usage of Straps and Strapping Tools
According to International Corrugated Case Association, Asia was the leader in the global corrugated production and shipments, accounting for more than 120 Bn square metres, in 2017. With over 6 Bn M Sq. (22.2% of the market) manufactured and transported, Europe stood as the second-largest manufacturer. The production and demand for corrugated packaging have improved two folds since 2017 and are expected to generate lucrative investment opportunities for stakeholders in the coming years. This is expected to boost the sales of straps and strapping tools, hence improving the overall packaging tensioner market.
Significant Growth in the Logistic Industry Leads to Surge in Demand for Packaging Tensioner Market
Packaging tensioners are convenient and useful, especially in transportation, manufacturing, and retail. The logistics industry observed a hike, which is a major reason that is driving the market growth of packaging tensioners. Manufacturers are using tensioner tools as it is a reasonable way to boost the productivity of the warehouse or production floor.
An automatic tensioner can double or triple the output of a product ready to transport and save the cost of human labour. As the logistics industry is developing while adopting the latest technology, such as artificial intelligence, robotics, and others, the demand for packaging tensioners tends to rise for effective packaging.
Impact of COVID-19 on Packaging Tensioner Market
Industries were making rapid growth toward their sustainability targets before COVID-19. The pandemic, on the other hand, has had a negative impact on a variety of companies around the world, particularly the packaging industry. The packaging enterprises were developing new technologies that were environmentally friendly, reusable, and recyclable, but the change in consumer preference and concerns about the safety and cleanliness of reusable packaging temporarily affected the development dynamics of the packaging industry. The pandemic has brought a surplus of shifts in consumer shopping behavior.
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The supply chain was negatively impacted and had a negative impact on the packaging tensioner market because transportation and logistics were unavailable during a pandemic due to a lockdown imposed by government as the core purpose of the logistics and transportation industries was to package goods and supplies. Following the pandemic, packaging enterprises are adjusting to sustainability goals that include improved hygiene, standardized e-commerce, and lower product costs. Because these new trends will highlight customers' needs across the business, the impact of the pandemic will have a positive influence on performance. Furthermore, as e-commerce industries improve their logistics, packaging tools and equipment will be more widely used, ultimately boosting the market growth of packaging tensioners.
Some of the players operating in the global packaging tensioner market are FROMM Packaging Systems, Dynaric, Inc., North Shore Strapping Inc., Samuel Packaging Systems Group, Transpak Equipment Corp, Tiger Pack, Inc., Venus Hartung Pty Ltd., Wenzhou Zhenda Packing Machine Co., Ltd., Sal-Tech Easy Packaging, Yang Bey Industrial Co., Ltd., Signode India, ASN Packaging Private Limited, Mandsorwala Packaging, KGN Enterprises, Sai Packaging Industries, TITAN Umreifungstechnik GmbH and Co. KG, Polychem Corp., Teknika Strapping Systems and Vijay Enterprise.
Packaging Tensioner Market by Category
Others (Textile, Cosmetics & Personal Care)
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2.2. Market Definition / Scope / Limitations
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About the Packaging Division at Future Market Insights
The packaging division at Future Market Insights provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, packaging machinery to packaging designs & formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 1,000+ reports, the team has analysed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.
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Download complimentary copy of Future Market Insights White Paper on Intelligent Packaging for Circular Economy published in collaboration with Graham Packaging and Avery Dennison
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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