What Is The Overview Of The Global Packaging Automation Market?
Packaging automation refers to the use of automated machinery, equipment, and systems to streamline and optimize the packaging process in manufacturing and distribution operations. It involves the use of robotics, conveyors, sensors, and control systems to automate various tasks involved in packaging, such as filling, sealing, labeling, wrapping, and palletizing.
Packaging Automation Global Market Report 2024 provides data on the global packaging automation market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The Packaging Automation market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Is The Global Packaging Automation Market Expected To Grow In Size And Annual Rates?
The packaging automation market size has grown rapidly in recent years. It will grow from $71.31 billion in 2023 to $78.49 billion in 2024 at a compound annual growth rate (CAGR) of 10%. The growth in the historic period can be attributed to demand for packaging automation, an increasing number of automations for secondary packaging, the need for automated packaging machines, and the increasing adoption of automation solutions. Automation leads to lower costs. The packaging automation market size is expected to see rapid growth in the next few years. It will grow to $115.92 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%. The growth in the forecast period can be attributed to a rise in demand for improving productivity, industrialization, and manufacturing processes; rising demand in the food and beverage, pharmaceuticals, and cosmetics industries; growing awareness regarding supply chain integration; and a rising e-commerce industry. Major trends in the forecast period include innovation in packaging automation, technological advancements, customized packaging, demand for technological innovation, and the surge of robotics technologies.
What Main Forces Are Fueling Expansion In The Packaging Automation Market?
The rising e-commerce industry is expected to propel the growth of the packaging automation market going forward. E-commerce or electronic commerce refers to the buying and selling of goods and services over the internet. The demand for e-commerce stems from its convenience, accessibility, and ability to provide a wide range of products and services to consumers from the comfort of their homes, anytime and anywhere. E-commerce uses packaging automation to streamline order fulfillment processes, reduce costs, enhance efficiency, and ensure consistent packaging quality across a high volume of orders. For instance, according to the 2023 data released by the United States Census Bureau, a US-based government agency, e-commerce sales increased by 7.6% between the third quarter of 2022 and the third quarter of 2023 in the USA. Therefore, the increased demand for the rising e-commerce industry is driving the growth of the packaging automation market, with market sizes reaching $D billion in 2023, $E billion in 2024, and $F billion in 2028.
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What Are The Primary Segments In The Global Packaging Automation Market?
The packaging automation market covered in this report is segmented –
1) By Offering: Solution, Services
2) By Automation Type: Robotic Pick And Place Automation, Secondary Packaging Automation, Tertiary And Palletizing Automation
3) By Industry Vertical: Healthcare And Pharmaceuticals, E-Commerce And Logistics, Food And Beverage, Automotive, Chemical And Refinery, Aerospace And Defense, Other Industry Verticals
Which Key Trends Are Driving Changes In The Packaging Automation Market?
In the packaging automation market, companies are focusing on automated packaging technologies for liquids, such as vertical form-fill-seal systems, to meet the increasing demand for efficient liquid packaging solutions. An automated vertical form-fill-seal system packages products by forming, filling, and sealing them in a single process, ensuring consistency and efficiency. For example, in November 2023, Sealed Air Corporation, a US-based packaging company, introduced the CRYOVAC Brand 308A CE Vertical Form-Fill-Seal System. This system handles packages up to 2 kg and uses a vertical filling approach to enhance product quality and protection. The system's design also offers cost-efficiency, lightweight features, and resistance to damage, while maintaining flavor and freshness.
What Is The Leading Region In The Packaging Automation Market?
North America was the largest region in the packaging automation market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the packaging automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
