Packaging Automation Market Report 2024 - Packaging Automation Market Trends And Growth

"The Business Research Company recently released a comprehensive report on the Global Packaging Automation Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The packaging automation market size has grown rapidly in recent years. It will grow from $71.31 billion in 2023 to $78.49 billion in 2024 at a compound annual growth rate (CAGR) of 10%. The growth in the historic period can be attributed to demand for packaging automation, an increasing number of automations for secondary packaging, the need for automated packaging machines, and the and the increasing adoption of automation solutions. Automation leads to lower costs.

The packaging automation market size is expected to see rapid growth in the next few years. It will grow to $115.92 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%. The growth in the forecast period can be attributed to a rise in demand for improving productivity, industrialization, and manufacturing processes; rising demand in the food and beverage, pharmaceuticals, and cosmetics industries; growing awareness regarding supply chain integration; and a rising e-commerce industry. Major trends in the forecast period include innovation in packaging automation, technological advancements, customized packaging, demand for technological innovation, and the and the surge of robotics technologies.

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Market Drivers and Trends:
The rising e-commerce industry is expected to propel the growth of the packaging automation market going forward. E-commerce or electronic commerce refers to the buying and selling goods and services over the internet. The demand for e-commerce stems from its convenience, accessibility, and ability to provide a wide range of products and services to consumers from the comfort of their homes, anytime and anywhere. E-commerce uses packaging automation to streamline order fulfillment processes, reduce costs, enhance efficiency, and ensure consistent packaging quality across a high volume of orders. For instance, according to the 2023 data released by the United States Census Bureau, a US-based government agency, e-commerce sales increased by 7.6 % between the third quarter of 2022 and the third quarter of 2023 in the USA. Therefore, the increased demand for rising e-commerce industry is driving the growth of the packaging automation market.

Major companies operating in the packaging automation market focus on automated packaging technologies for liquid products such as vertical form-fill-seal systems, to meet the growing demand for streamlined liquid packaging solutions in various industries. An automated vertical form-fill-seal system efficiently packages products by forming, filling, and sealing them within a single integrated process, streamlining production and ensuring consistent quality. For instance, in November 2023, Sealed Air Corporation, a US-based packaging company, launched a new automated packaging system for liquids called the CRYOVAC Brand 308A CE Vertical Form-Fill-Seal System. This system can accommodate packages weighing up to 2 kg in either one or two phases and has a vertical filling approach. The vertical pouch packaging has no headspace, resulting in superior quality and protection for the products, and the pouches are convenient to store, open, and dispose of while also offering cost-efficiency, lightweight design, resistance to damage, and preserving flavor and freshness.

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Major Key Players of the Market:
Siemens AG, Mitsubishi Electric Corporation, Schneider Electric SE, Honeywell International Inc., Jabil Inc., ABB Ltd., Toshiba Corporation, Emerson Electric Co., Rockwell Automation Inc., Bosch Rexroth AG, Omron Corporation, Krones AG, Daifuku Co. Ltd., Dematic Corporation, KUKA AG, YASKAWA Electric Corporation, ATS Corporation, BEUMER Group GmbH & Co. KG, ProMach Inc., Kollmorgen Corporation, ACTEGA GmbH, Essel Propack Ltd., CFT S.p.A, JLS Automation LLP, Automated Packaging Systems Inc

Packaging Automation Market 2024 Key Insights:
• The packaging automation market size is expected to see rapid growth in the next few years. It will grow to $115.92 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%.
• E-Commerce Expansion Fuels Surge In Packaging Automation Market Demand
• Revolutionary Liquid Packaging Solution
• North America was the largest region in the packaging automation market in 2023

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This release was published on openPR.