Global Packaging Automation Market: Snapshot
The global packaging automation market is projected to expand while riding on the rising need to reduce storage and packaging cost, maintain packaging quality, and improve labor productivity. The growing trend of automation in the packaging industry could also highlight the global packaging automation market. On the other hand, safety regulations in profit-making industries such as food and beverage and healthcare are foreseen to augment the demand in the global packaging automation market. Manufacturers are adopting applications with automated reporting features to adhere to safety regulations in their respective industries.
The global packaging automation market is envisaged to post a 9.7% CAGR during the forecast period 2017-2025 to achieve a valuation of US$69.73 bn by the end of 2025. In 2016, the global packaging automation market was valued at a US$31.12 bn.
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Food and Beverage Takes Advantage of High Demand for Automation to Lead Market
By industry, the global packaging automation market is classified into automotive, electronics, retail, healthcare, food and beverage, logistics, and other segments. Among these, food and beverage is prognosticated to account for a king’s share of the global packaging automation market during the course of the forecast period. In 2016, it secured a 24.3% of the total share of the global packaging automation market. High level of competition between food and beverage businesses has drastically raised the demand for automation in the industry. This is expected to bode well for the growth of the food and beverage segment in the global packaging automation market.
With respect to type, the global packaging automation market is segregated into automated conveyors, automated packagers, and packaging robots. Among these, packaging robots are foretold to rank higher in the global packaging automation market in terms of market share.
On the basis of application, the global packaging automation market is bifurcated into wrapping, capping, filling, labeling, palletizing, and other segments. In 2016, palletizing showed a dominating rise in the global packaging automation market as it collected a 27.0% share. Packaging automation is becoming a whole lot easier due to the move from conventional to hybrid palletizers.
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Increasing Number of Remunerative Industries Helps Europe to Take Command of Market
From a geographical standpoint, the global packaging automation market is envisaged to find Europe taking hold of a colossal share in the foreseeable future. The region bagged a 37.0% share of the global packaging automation market in 2016. Europe banks on the presence of a significant count of industries operating in the region. Asia Pacific could closely follow Europe in terms of market share. Furthermore, North America is envisioned to tread upon the heels of Asia Pacific.
There could be rewarding opportunities available in the Asia Pacific packaging automation market, taking into account the boom of the food and beverage, healthcare, and automotive industries. Growing demand for sophisticated packaging solutions in these industries is prophesied to help Asia Pacific maintain its position in the global packaging automation market. China could exhibit maximum growth in the regional packaging automation market.
The global packaging automation market marks the presence of leading players including Siemens AG, Rockwell Automation, Inc., and Schneider Electric SE.
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