Packaging automation solution market to hit $155bn
The global packaging automation solution market is set to reach $155 billion by 2033, expanding at 7.5% CAGR from 2023 to 2033.
Packaging is usually carried out at the end of the line and consists of arranging and protecting products for storage and transportation. Various technologies are used to make this process more effective and quicker. Packaging automation is the technique of packaging a product without any human intervention.
Packaging automation can be as simple as a single piece of machinery to as complex as a standard process or a full packaging line. They can range from fully automated packing lines that pack, stack, and unitise entire pallets of products to something as simple as automatically producing and packing cartons.
The global packaging automation solutions market is predicted to develop at a substantial rate owing to the increasing usage of advanced packaging technologies throughout various end-user industries in order to reduce labor costs and boost productivity. Moreover, the global market is being driven by an increase in the rate of industrialization and manufacturing activities as a result of the expanding population.
Increased worker safety concerns among manufacturers and growing technological breakthroughs such as packaging robots, autonomous robots, and digital manufacturing are expected to propel the global market. Furthermore, fierce competition among market players, increased demand for supply chain integration, growing globalisation of production, the requirement for cost-efficient manufacturing, and rising labor prices are projected to accelerate the growth of the global packaging automation solution market.
- The global packaging automation solution market is valued at $75 billion in 2023.
- The market is anticipated to hit $155 billion by the end of 2033.
- Global demand for packaging automation solutions is projected to evolve at a CAGR of 7.5% from 2023 to 2033.
- Asia Pacific held 39% share of the worldwide market in 2022.
- The packaging robots segment is likely to expand at a CAGR of six percent during the forecast period.
Key players in the packaging automation solution market are pursuing marketing tactics such as investments, alliances, acquisitions, R&D activities, and technological advancements to expand and maintain their worldwide presence. Moreover, many startups are introducing technologically advanced products to gain market share.
- NEXA System Engineering, a Polish startup, provides robotic packing stations and labeling and marking systems. The packaging machines are centered on SCARA, Delta, and 6-axis robots, allowing production flexibility. Robotised systems work with cartoners that fold or prepare cartons, labelers, and sealers.
- ULMA Packaging exhibited TSA 400, a newly designed, compact tray sealer, at IFFA 2022, in May 2022. The TSA 400, according to the manufacturer, is a very versatile machine that can function in MAP, SKIN, LEAFMAPTM, and LEAFSKINTM applications, with a tiny footprint and high-speed output of just 2.3 meters, making it ideal for constrained layouts.
- MULTIVAC announced the market debut of its W 500 as a universal flow packing solution in April 2022. The product is extremely versatile and can be used to pack a wide variety of food goods. This product can be utilized either as a stand-alone solution or as part of an automated line. The company is working on expanding its equipment offering to a new field of application with the advent of the new W 500 horizontal flow packer.