SEATTLE, April 29, 2020 (GLOBE NEWSWIRE) -- End-of-line packaging solution is an advanced technology that automates the entire production and packaging process. End-of-line packaging the solution enhances the production process across industries and improves the performance of the operation by reducing the overall cost production. Moreover, end-of-line packaging system reduces the need for training the labor which enables companies to engross available workers in other valuable tasks.
The global end-of-line packaging market is projected to reach around US$ 6.0 billion by the end of 2027, in terms of revenue, growing at CAGR of 4.2% during the forecast period (2020-2027).
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Drivers:
Increasing adoption of robots in the end-of-line packaging solution is expected to enhance the production process and overall efficiency. Robots system in the end-of-line packaging system also reduces manual tasks such as palletizing, packaging, and picking. Also, the robotic system in the end-of-line packaging reduces the chances of damages. The benefits offered by the robotic system are encouraging manufacturing to adopt this advanced technology thus fueling the market growth.
The automation in the production facility is gaining popularity due to the dearth of skilled workforce across developing regions. Thus, the rising adoption of automation across the manufacturing facility is expected to augment the market growth of the end-of-line packaging over the forecast period.
Market Opportunities
The rising need for employee safety and risk of contamination in the product across various end-user industries is creating potential demand for the end-of-line packaging solution. Adopting automation reduces the number of workers for manual work which can be dangerous and highly prone to injury. Moreover, they also reduce the chances of human error. This is expected to augment the market growth over the forecast period.
The growing need for higher volume production due to an increasing population around the globe is expected to foster the market growth of the end-of-line packaging solution. Moreover, increasing need for repeatability and accuracy in the production facility is further creating an enormous potential opportunity for the market of the end-of-line packaging solution.
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Market Restraints
There could be unpredictable costs occur that may exceed the actual cost is a major factor expected to hinder the market growth. Some of the unpredictable costs are maintenance costs and the cost of training the workers for operating the automated machines.
Key Takeaways
Among end-use industry, food & beverage segment dominated the global end-of-line packaging market in 2019 with a 34% of market share in terms of revenue. The demand for end-of-line packaging is mainly driven due to increasing demand for packaged food & beverage products.
Geographically, Europe dominated the global end-of-line packaging market in 2019, reporting 34% market share in terms of revenue. This growth is majorly driven due to growth of food & beverages, pharmaceutical and packaging industries.
Market Trends
The rising trend of lightweight packaging due to ease of handling products is projected to accelerate the market growth of the end-of-line packaging solution.
Manufacturers are adopting customized end-of-line packaging solution according to their processes is projected to accelerate the market growth of the end-of-line packaging solution. Increasing demand for standardizing solutions for enhancing performance and improving efficiency is expected to accelerate the market growth over the forecast timeframe.
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Competitive Section:
1. Krones AG
2. IMA S.p.A.
3. Bosch Packaging Technology
4. DS Smith plc.
5. Pro Mach, Inc.
6. Combi Packaging Systems LLC
7. Festo Group
8. Schneider Packaging Equipment Co. Inc.
9. Gebo Cermex
Few Recent Developments
Bosch Packaging Technology
- In July 2019, Bosch Packaging Russia has announced the plan to sell the business division of packaging Polo Russia. This decision was based on the trustful and long cooperation between Bosch Packaging and Polo Handels AG.
DS Smith plc.
- In February 2020, Liquibox acquired DS Smith plc's Plastics Division. The acquired division's flexible packaging and Worldwide Dispensers businesses will be consolidated into the Liquibox brand. Moreover, the acquisition of DS Smith's flexible packaging businesses provides a strong platform to further expand Liquibox's leading value proposition into emerging growth markets, such as coffee, tea, water, and aseptic packaging.
Taxonomy (Scope, segments)
By Technology
- Automatic
- Semi-automatic
By Received Order
- Customized
- Standard
By End-use Industry
- Automotive
- Electronics & Semiconductor
- Food & beverages
- Pharmaceutical
- Others
By Function
- Integrated
- Standalone