25-Oct-2018 | Zion Market Research
With the presence of a large pool of participants, the global packaging automation market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). 3M, MeadWestvaco Corporation, BASF SE, Du Pont De Nemours and Company, Amcor Limited, Avery Dennison Corp., Sealed Air Corporation, Avery Dennison Corp., Huhtamaki Group, Stora Enso OYJ, and International Paper are some of the key vendors of packaging automation across the world. These players across the packaging automation market are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the packaging automation market study.
This review is based on a report by Zion Market Research, titled “Packaging Automation Market by Product Type (Packaging Robots, Automated Conveyors, and Automated Packagers), by Application (Form, Filling & Sealing (FFS), Capping, Labeling, Wrapping, Palletizing, and Others), and by End-User Industry (Healthcare & Pharmaceutical, Food & Beverage, Logistics & E-commerce, Automotive, Chemicals, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2024.”- Report at https://www.zionmarketresearch.com/report/packaging-automation-market
Citing an instance, in October 2018, Somic America Incorporation – a division of Somic Ishikawa, a leading automotive component manufacture- revealed SOMIC-FLEXX III at PACK Expo. Reportedly, the modular equipment is an interesting solution to the North American retail packaging problems. Experts are of the view that SOMIC-FLEXX III is an innovative concept that integrates capability of wrapping key packages in a flat orientation or standing display.
As estimated in this report, the global packaging automation market stood at US$ 33.0 billion in 2017. Witnessing a tremendous rise during the period from 2018 to 2024, the revenue in this packaging automation market is expected to reach US$ 58.1 billion by the end of the forecast period. The main products available in this packaging automation market are packaging robots, automated conveyors, and automated packagers. Among them, the demand for packaging robots is relatively higher and the trend is anticipated to remain so over the next few years, notes the packaging automation market research report.
Technological Innovations In Packaging Sector To Enhance Market Earnings
“Extensive product applications in automotive, healthcare & pharmaceutical, logistics & ecommerce, food & beverage, and chemicals sectors will elevate the growth of packaging automation market in the foreseeable future,” says the author of this study. Apart from this, growing requirement for reducing physical damage of products during material handling as well as minimizing the packaging & labor costs is likely to expand the business space over the coming years. In addition, need of manufacturers to increase production coupled with technological breakthroughs such as smart packaging, automation architecture, robotics, and printing techniques witnessed across packaging sector will further propel packaging automation market scope.
Presence Of Health-Conscious Population To Aid Europe Maintain Dominance
Regionally, Europe has been leading the worldwide packaging automation market and is anticipated to continue on the dominant position in the years to come, states the packaging automation market study. Increment in the number of health-conscious population with hectic lifestyles & busy work schedules is the main factor behind the dominance of the Europe packaging automation market. The huge presence of major industry players in Europe is another significant factor that is supporting the growth of this regional packaging automation market.
The global packaging automation market is segmented as follows:
By End User
Zion Market Research is an obligated company. We create futuristic, cutting-edge, informative reports ranging from industry reports, the company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.
Zion Market Research
244 Fifth Avenue, Suite N202
New York, 10001, United States
Tel: +49-322 210 92714
USA/Canada Toll-Free No.1-855-465-4651