According to Fact.MR, a market research and competitive intelligence provider, the global packaging automation solution market is set to reach US$ 155 billion by 2033, expanding at 7.5% CAGR from 2023 to 2033.
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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 unitize 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 globalization 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.
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Key Takeaways from Market Study
- The global packaging automation solution market is valued at US$ 75 billion in 2023.
- The market is anticipated to hit US$ 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 6% during the forecast period.
Asia Pacific is expected to dominate the global packaging automation solution market during the study period due to expanding industrialization and living standards, which have pushed consumers to prefer higher-quality goods and services. Furthermore, the region’s increasing e-commerce industry has raised the need for automated solutions that aid inventory management.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global packaging automation solution market, presenting historical demand data (2018-2022) and forecast statistics for the period of 2023-2033.
The study divulges essential insights on the market on the basis of product type (packaging robots, automated packagers, automated conveyors & sorting systems) and end use (food & beverages, logistics & warehousing, retail, healthcare & pharmaceuticals, semiconductors & electronics, other end uses), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).