Westford, USA, April 03, 2023 (GLOBE NEWSWIRE) -- SkyQuest has forecasted that the Packaging Automation market will achieve a CAGR of 5.85% during the forecast period (2022-2030) and is expected to reach USD 108.2 billion by 2030. The growth of the market is driven by various factors, including the increasing demand for packaged goods, the need for efficient and cost-effective packaging solutions, technological advancements in packaging automation, the growing demand for sustainable packaging, and the increasing adoption of Industry 4.0. Additionally, a study by PMMI (The Association for Packaging and Processing Technologies) has found that 91% of packaging companies in North America have increased their level of automation in recent years, citing labor cost reduction, increased efficiency, and improved product quality as the main drivers.
According to SkyQuest's latest global research findings, the global packaging machinery market is projected to reach $66.9 billion by 2026, growing at a CAGR of 5.4% during the forecasted period. The importance of automation in the packaging industry is highlighted in a SkyQuest report on the future of manufacturing, stating that companies that want to remain competitive should view automation as a necessity rather than an option.
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- Pages - 242
- Tables - 105
- Figures - 75
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In the present era, efficient and cost-effective packaging solutions are crucial, leading to the increased significance of packaging automation. Its implementation helps to enhance efficiency, decrease labor costs, and accelerate production speed. Furthermore, the growth of e-commerce and customers' preference for personalized products has made packaging automation indispensable for the packaging industry to meet consumer demands and gain a competitive edge.
Prominent Players in Packaging Automation Market
- ABB Ltd.
- Bosch Packaging Technology
- Schneider Electric SE
- Siemens AG
- Krones AG
- Mitsubishi Electric Corporation
- Pro Mach Inc.
- Rockwell Automation Inc.
- Yaskawa America Inc.
- Honeywell International Inc.
- Beckhoff Automation GmbH & Co. KG
- Emerson Electric Co.
- Fuji Yusoki Kogyo Co., Ltd.
- GE Automation & Controls
- Omron Corporation
- SMC Corporation
- Festo AG & Co. KG
- Mitsubishi Heavy Industries Machinery Technology Corporation
- Swisslog Holding AG
- TECNOVA S.r.l.
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Food and Beverage Application Industry Segment to Drive Higher Sales as Automated Packaging is Helping to Improve Productivity, and Reduce Errors
According to a recent analysis, the food and beverage application segment is expected to drive significant growth in the packaging automation market from 2022 to 2030. The adoption of automation in the food and beverage industry is helping to improve productivity, reduce errors, and ensure consistency in the packaging process, which is crucial in industries where hygiene and safety are top priorities. Furthermore, SkyQuest reports that robotic pick-and-place systems are being utilized to place products into packaging, including delicate and irregularly shaped items like baked goods or fresh produce, with precision and speed. These systems can also be integrated with vision systems and sensors to guarantee that products are properly positioned and packaged.
According to research analysis, North America is expected to emerge as a dominant player in the Packaging Automation market from 2022 to 2030. SkyQuest forecasts a CAGR of 8.82% for the region during the forecast period. The growth can be attributed to the increasing demand for consumer goods, rising labor costs, and the need for efficient and cost-effective packaging solutions. The rise of e-commerce and the growing trend of personalized packaging also drive this regional expansion. Additionally, the Advanced Robotics for Manufacturing (ARM) Institute, a public-private partnership, is committed to advancing robotics and automation technologies in the manufacturing industry, including packaging automation, by providing funding and resources to support research and development in the field.
Robotics and automation equipment Segment to Exhibit Strong Growth as it Helps in Improving Operational Efficiency
SkyQuest's analysis shows that the Packaging Automation market was dominated by the Robotics and Automation Equipment segment in 2021 it is expected to maintain its leading position from 2022 to 2030. The segment is projected to grow at a CAGR of 10.1% during the forecasted period, mainly due to the increasing adoption of Industry 4.0 technologies like the Industrial Internet of Things (IIoT) and smart factories. These technologies are driving the growth of this segment by improving operational efficiency, reducing errors, and increasing productivity in the packaging industry.
SkyQuest's analysis indicates that the Asia Pacific region is expected to maintain its leading position in the Packaging Automation market through 2030. The region is projected to grow at a CAGR of 9.97% during the forecast period, owing to increasing demand for consumer goods, rising disposable income, and major market players in countries like China and Japan. The International Federation of Robotics reports that Asia has the highest sales of industrial robots, accounting for approximately 63% of the total sales worldwide. This indicates the region's dominance in the packaging automation market.
A comprehensive analysis of the major players in the Packaging Automation market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.
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Key Developments in Packaging Automation Market
- Massman Companies, a global leader in packaging machinery, has acquired Ultra Packaging Inc., a privately held company located in Chicago. UPI specializes in the design of automated vertical and horizontal cartoning machines for the food, personal care, pharmaceutical, and cosmetic industries. These machines come in various configurations capable of high-speed continuous motion, from manual to full robotic loading.
- Pacteon, a company that offers end-of-line packaging automation solutions worldwide, has acquired ESS Technologies, Inc. (ESS), specializing in cartoning and packaging line integration. The acquisition of ESS provides Pacteon with advanced capabilities in these areas and boosts its presence in the pharmaceutical and diagnostic sectors.
Key Questions Answered in Packaging Automation Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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