Zion Market Research has published a new report titled “Packaging Automation Market by Product Type (Packaging Robots, Automated Conveyors, and Automated Packagers), by Application (Form, Filling & Sealing (FFS), Capping, Labeling, Wrapping, Palletizing, and Others), and by End-User Industry (Healthcare & Pharmaceutical, Food & Beverage, Logistics & E-commerce, Automotive, Chemicals, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2024”. According to the report, global packaging automation market was valued at approximately USD 33.0 billion in 2017 and is expected to generate revenue of around USD 58.1 billion by the end of 2024, growing at a CAGR of around 8.4% between 2018 and 2024.
Packaging automation is the process of packing the products through robots or machines. It helps to protect the product from physical damage. Packaging automation machines decrease the cost of packaging and help to reduce labor cost and minimize damage during material handling. Packaging automation is also used by some of the manufacturers to deliver more products in less time. Recent advancements and bearing in food processing and packaging (FPP) is an interdisciplinary area in materials, regulation, systems, safety, and supply chains. Advancements in the packaging industry include smart packaging, printing techniques, automation architecture, robotics and machinery, software systems and interfaces. Such factors are expected to drive the packaging automation market growth over the forecast timeframe.
Packaging generates waste; manufacturers are focusing on creating sustainable packaging and examples of those materials include fiber composite, polylactide acid (PLA) plastics, starch-based films, sugarcane pulp, and others. Woods and glass are also used as packaging materials. Aluminum packaging provides a resistant barrier to protect food, as it is chemically neutral and non-toxic. Some foods are required to be kept in dark environment. Aluminum is mostly preferred in this context. Efficient packaging is cheap, safe, and more hygienic foods. Active packaging is one method where packaging material interacts with the food for long shelf-life, high safety, and improves hygiene. Safety of food is the important requirement in food production and packaging. As per USDA, over 75 million individuals every year become ill due to food poisoning.
The packaging automation market is segmented on the basis of product type into packaging robots, automated conveyors, and automated packagers. Packaging robots held significant revenue share in 2017, due to increased demand from various industries to ease packaging of materials.
Based on application, packaging automation market has been segmented as wrapping, form, filling & sealing (FFS), palletizing, capping, labeling, and others. Form, filling & sealing (FFS) contributed major revenue share in 2017. Palletizing is predicted to account for lucrative growth over the forecast period. The growth is attributed as it is mostly used in the packaging line in industries, such as chemical, pharmaceutical, and personal care & cosmetics.
Europe held major revenue share in the global packaging automation market due to rising number of the health-conscious population associated with growing busy lifestyles will upsurge demand for the convenience of food.
North America contributed a significant revenue share in 2017. In the United States, there are external risks that could affect investment in the packaging machinery. Worsening economic conditions across the world are the major potential risk.
The Asia Pacific packaging automation market is anticipated to grow at highest CAGR over the forecast timeframe. Market growth is particularly expected in Japan, India, and China. Increased government initiatives to increase productivity are expected to drive industry growth in the future years. For instance, the Chinese government announced to restructure the industrial sector with a strong focus on moving towards high-end machinery. However, major challenges faced by Chinese machinery manufacturers include dependence on foreign technology and lack of capabilities for innovation.
Latin America packaging automation market is expected to account for significant growth rate over the forecast period. The growth is attributed due to emerging middle-class population in the region, who are becoming major consumers of prepared foods, personal care goods, and electronics which will increase the demand for the automated packaging market.
The Middle East and Africa are expected to experience lucrative growth in the future years. In Saudi Arabia, food processing has developed at significant growth rate over the past years. The government supports the industry by providing funds for machinery and imposes high tariffs on selected food imports.
Some of the key players operating in the packaging automation market include 3M, MeadWestvaco Corporation, BASF SE, Du Pont De Nemours and Company, Amcor Limited, Avery Dennison Corp., Sealed Air Corporation, Avery Dennison Corp., Huhtamaki Group, Stora Enso OYJ, International Paper, RR Donnelley, Sonoco Products Company, Smartrac N.V., and others.
This report segments the global packaging automation market as follows:
Global Packaging Automation Market: Product Type Segment Analysis
Global Packaging Automation Market: Application Segment Analysis
Global Packaging Automation Market: End-User Industry Segment Analysis
Global Packaging Automation Market: Regional Segment Analysis
Source: GLOBE NEWSWIRE