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The overwrapping machines industry is evolving through automation and environmental awareness. Manufacturers now create machines that boost efficiency and quality while reducing manual work, with IoT features enabling real-time monitoring and predictive maintenance. These machines excel in high-speed tasks like sealing and labeling, particularly benefiting food and pharmaceutical industries. At the same time, growing environmental concerns have pushed manufacturers to develop machines that can handle biodegradable and recyclable materials. This shift toward sustainability, driven by both regulations and consumer demand, has prompted industries like cosmetics, food, and healthcare to adopt machines compatible with renewable materials such as compostable films.
Shrink machines accounted for approximately 42.5% of the market share in 2024 and are expected to grow at a CAGR of 6.6% by 2034, driven by their ability to provide tamper-evident, protective, and visually appealing packaging.
The U.S. market accounted for around 73% of the North American market share in 2024, driven by strong demand for automated packaging solutions and the integration of IoT features to enhance machine performance.
The global market size for overwrapping machines was valued at USD 1.9 billion in 2024 and is projected to reach USD 3.4 billion by 2034, driven by a CAGR of over 6.5% during the forecast period, fueled by the rising demand for sustainable packaging solutions.
Major players in the industry include Aetna Group S.p.A., CAM Packaging Systems Ltd., Coesia S.p.A., FUJI CORPORATION, GEA Group AG, Harpak-ULMA Packaging, LLC, Haver & Boecker OHG, I.M.A. Industria Machine Automatiche S.p.A., Ishida Co., Ltd., Krones AG, Marchesini Group S.p.A., Omori Machinery Co., Ltd., ProMach, Inc., Robert Bosch GmbH, and SACMI IMOLA S.C.