The throughput of the packaging industry is likely to follow an exponential track in the forthcoming years, largely thanks to automation. As per a recent survey by the Association for Packaging and Processing Technologies, robotics are implemented across 94% of packaging operations. Through automation, lines can be switched faster from one product to another, the speed of production can be improved, and productivity loss can be drastically reduced. According to a report by Transparency Market Research (TMR), the global packaging automation market is estimated to reach a valuation of US$69.73 bn by 2025 from US$31.12 bn in 2016, expanding at a noteworthy CAGR of 9.7% from 2017 to 2025.
Manufacturers in the food and beverage and healthcare industry are paying high attention to safety regulations. A TMR analyst observes that adhering to safety regulations becomes easier by developing applications, which include automated reporting capabilities that are helpful in generating brief reports for each packaging line.
Who are the leading players in the global packaging automation market and how do they manage to stay ahead in the arena?
The global packaging automation market is capital-intensive in nature and thus, while this limits the entry of new players, it makes it imperative for leading players to rely on various strategies to gain a stronger foothold. To put this in perspective, ABB Ltd. is focusing towards innovating technologies in the field of packaging robots in order to enhance its visibility in the market. Similarly, Siemens AG is allocating substantial funds in research and development activities, which will help the company in staying ahead. Other leading companies are Rockwell Automation Inc., Mitsubishi Electric Corporation, Emerson Electric Co., and Schneider Electric SE.
How are strategies adopted by companies impacting the growth of the global packaging automation market?
With the mounting consumer demand for ever-new products and variety, participants in the packaging industry are striving to step up their game, which in turn is stoking the growth of the global packaging automation market. Large packaging players are acquiring or collaborating with packaging automation companies to deliver a range of packaging applications and systems to their customers. For instance, Ranpack, a protective paper packaging materials and solutions provider, has acquired e3neo, a French packaging automation company in order to expand its capabilities and offerings for high-volume packaging environments.
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Why are developing regions emerging destinations for packaging automation providers?
In terms of geography, Europe dominated the market in 2016, represented 37% of the overall market revenue. The presence of a large base of industries is contributing to the dominance of the region. On the other hand, owing to rapid industrialization in emerging countries, Asia Pacific is the second leading region and will continue to offer tremendous growth opportunities over the coming years. The booming food and beverages, healthcare, and automotive industries are also providing significant momentum to the market in the region. In addition, the increasing emphasis by these industries on reducing cost is escalating the growth of the APAC market.