The Global Packaging Automation Market Size is valued at 76.90 billion in 2023 and is predicted to reach 166.14 billion by the year 2031 at an 10.30% CAGR during the forecast period for 2024-2031.
Packaging automation is the process of packaging without any human assistance. A brilliant tactic that enables manufacturing or packaging organizations to accomplish more work with fewer resources is to eliminate superfluous employment. Production operations are more productive and efficient thanks to automated devices. Because automated machines are efficient and can cut labor costs and time, manufacturers are increasingly using them to package commodities and products. Automation is being used in the manufacturing sector because of its many advantages, including more flexibility, safer working conditions, rigorous quality, less waste, and inexpensive costs.
Furthermore, based on the demands of product labeling and presentation needs, the introduction of the programming feature in these machines allows diversity and non-repetitiveness of the duties and activities. The expansion of the packaging automation industry is being constrained by the high development and maintenance costs associated with these devices. The overall price of these machines will rise as a result of the incorporation of cutting-edge technologies and the demand for trained labour.
Additionally, adequate and routine maintenance of the machinery is necessary for their ongoing and regular operation, which adds to the cost. Further, the industry's expansion is being hampered by the government's strict restrictions regarding worker safety when automated packing processes are used. All these factors are anticipated to drive market expansion.
Recent Developments:
- In August 2022, Maxpack Machinery LLC unveiled Leap by Max pack, a ground-breaking piece of packaging machinery that enables the client to pay overtime. Leap is a product that Maxpack created in response to the growing Buy Now, Pay Later market. Premium packages of the automation gear are offered, and payments can be made over an 18-month period without interest or credit.
- In May 2022, the TSA 400, a newly created compact tray sealer, was unveiled by ULMA Packaging. It is anticipated that it will be featured at the next IFFA 2022. The TSA 400 is a highly adaptable device, according to the manufacturer, capable of working in SKIN, MAP, LEAFSKINTM, and LEAFMAPTM settings. Due to its small size and high-speed output of only 2.3 meters.
Competitive Landscape:
Some of the major key players in the packaging automation market are
- Rockwell Automation, Inc.
- Mitsubishi Electric Corporation
- Swisslog Holding AG
- ABB Ltd.
- Kollmorgen Corporation
- ULMA Packaging
- Multivac Group
- Coesia SpA
- Emerson Electric Co.
- Falcon Autotech Private Limited
Market Segmentation:
The packaging automation market is segmented on the basis of offering, automation type, and industry vehicle. Based on the offering, the market is segmented into solution, wrappers, filling, case sealers & erectors, sleevers & cartoners, markers & labelers, strappers, palletizer and depalletizer, automated mailer systems, case packers, services, consulting, support & maintenance, installation & training. Based on automation type robotic pick & place automation, secondary packaging automation, tertiary & palletizing automation. Based on industry vehicle healthcare & pharmaceuticals, healthcare & pharmaceutical manufacturing companies, contract manufacturing organizations, e-commerce & logistics, e-commerce, contract packaging, logistics companies, food & beverage, automotive, chemical & refinery, aerospace & defense and others.
Based On The Offering, The Solution Segment Is Accounted As A Major Contributor To The Packaging Automation Market
The subcategory of solutions is anticipated to have the biggest market share. Due to the growing significance of minimizing unscheduled downtime through optimized maintenance scheduling and failure prevention, increasing throughput by identifying performance bottlenecks, reducing production and manufacturing defects, and improving overall product quality, this sector of the packaging automation market is expanding. The solution category is anticipated to have the greatest CAGR over the forecast period.
The Robotic Pick & Place Automation Segment Witnessed Growth At A Rapid Rate
The market for packaging automation is anticipated to be dominated by the robotic pick & place automation segment. This market's expansion is attributable to elements like better product handling, variety, and adaptability as compared to traditional automation. It also minimizes the need for manual product loading into a packaging machine. This lowers labor expenses and boosts an industry's production, which justifies the accompanying expense.
In The Region, The Europe Packaging Automation Market Holds A Significant Revenue Share
The European region is anticipated to dominate the market over the forecast period. The rapid adoption of new technology by the general public, the presence of numerous manufacturing industries, and the availability of packaging automation providers in the region are all contributing factors to the market's rapid growth in Europe. These businesses provide a variety of automated packaging systems. Besides, due to the region's expanding use of products and services in the manufacturing, e-commerce, and healthcare sectors, Asia-Pacific is predicted to see a significant CAGR over the projection period. The growing need for packaged goods and beverages in the country, which is projected to be one of the factors driving the adoption of packaging automation in the Asia-Pacific market, makes corrugated packaging even more essential.
Packaging Automation Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2023 |
USD 76.90 billion |
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Revenue forecast in 2031 |
USD 166.14 billion |
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Growth rate CAGR |
CAGR of 10.30% from 2024 to 2031 |
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Quantitative units |
Representation of revenue in US$ Million and CAGR from 2024 to 2031 |
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Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments covered |
Offering, Automation Type, And Industry Vehicle |
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Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; South East Asia |
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Competitive Landscape |
Rockwell Automation, Inc., Mitsubishi Electric Corporation, Swisslog Holding AG, ABB Ltd., Kollmorgen Corporation, ULMA Packaging, Multivac Group, Coesia SpA. |
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Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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