The global end-of-line packaging market was worth around USD 4821.5 million in 2021 and is estimated to grow to about USD 6136 million by 2028, with a compound annual growth rate (CAGR) of approximately 4.1 percent over the forecast period.
End-of-line Packaging Market
The global end-of-line packaging market was worth around USD 4821.5 million in 2021 and is estimated to grow to about USD 6136 million by 2028, with a compound annual growth rate (CAGR) of approximately 4.1 percent over the forecast period. The report analyzes the end-of-line packaging market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the end-of-line packaging market.
Automation has been a major trend in the industrial sector over the past few years and this trend is only expected to be further bolstered over the forecast period and predicted to drive end-of-line packaging market potential as well. End-of-line packaging systems are crucial in skilled labor management and are responsible for the manufacturing of products at a faster rate and hence increasing the productivity of the global industry.
End-of-line packaging is crucial in an industrial environment and boosts the productivity of the company, hence this factor is expected to major boost end-of-line packaging market growth through 2028. High costs and low adoption in emerging economies are expected to restrain end-of-line packaging market growth over the forecast period.
Shuttered industries and manufacturing facilities in 2020 had a major negative impact on the end-of-line packaging marketplace and resulted in a downfall in the growth trend. The COVID-19 pandemic restrictions made it extremely difficult for end-of-line packaging companies to operate at regular capacity and faced many challenges such as lack of raw materials, disrupted demand, supply chains, etc. The drop in sales of packaged goods had an adverse impact on the global packaging market growth.
The end-of-line packaging market growth is expected to make a steady comeback over the forecast period and is expected to see a robust increase in demand owing to the rising popularity of automation in multiple end-use verticals.
As lockdown restrictions are lifted and manufacturing and production activities resume to their full capacity the end-of-line packaging market growth is anticipated to rise at a steady pace in the post-pandemic era.
The promise of Cost-efficiency to Drive End-of-line Packaging Demand
End-of-line packaging enables automation and increases the overall productivity of the company by reducing delivery time. Deployment of end-of-line packaging systems also allows the facilities to employ skilled laborers for other valuable tasks that require more human input and hence increase the overall efficiency of the workforce. The increased use of technologies like AI, deep learning, industrial automation, machine vision, etc., is also expected to favor end-of-line packaging market growth through 2028.
Lack of Developed Manufacturing Infrastructure and High Costs of Automation to Hinder Market Growth
End-of-line packaging market growth is anticipated to be hindered by the high costs of automated solutions in the packaging industry. Packaging infrastructure has not developed with increasing technological advancements and this has hampered the overall market potential. Especially in low-income economies where spending potential is limited, the adoption of end-of-line packaging is expected to be constrained and have a hampering effect on the global end-of-line packaging market growth over the forecast period.
The global end-of-line packaging market is segregated based on technology, functionality, order type, end-use industry, and region.
By technology, the market is divided into automatic and semi-automatic. The automatic segment is expected to have a bright outlook over the forecast period. The increasing use of automation in the packaging industry and the rising popularity of industry 4.0 trends are major factors that will favor the growth of this segment. The semi-automatic segment is also expected to see an increase in popularity in low-income nations with less spending potential.
By end-use industry, the end-of-line packaging market is segmented into food & beverages, pharmaceutical, electronics & semiconductor, automotive, and others (chemical products and consumer products). Increasing consumption of food and beverage products is expected to drive demand for end-of-line packaging in this industry vertical and the growing population is expected to further bolster the end-of-line packaging market growth. Adoption of end-of-line packaging systems in the pharmaceutical, automotive, electronics, and semiconductor industry verticals is also expected to see a rise in pace by the end of the forecast period.
Asia Pacific region is anticipated to hold a dominant market share over the forecast period and is projected to emerge as the most lucrative region for end-of-line packaging market growth through 2028. Increasing industrialization, favorable government policies, low cost of manufacturing, and high demand for packaging solutions are expected to be major factors influencing the end-of-line packaging market potential over the forecast period. The extremely lucrative manufacturing sector in China is anticipated to provide the most beneficial setting for end-of-line packaging market growth.
The European end-of-line packaging market is also predicted to have a bright outlook through 2028 and majorly the market in this region is expected to be driven by Germany where automation is trending and hence emerging as a leading market for end-of-line packaging. Moreover, the presence of key end-of-line packaging players in Europe is also expected to boost end-of-line packaging market growth through 2028 in this region.
Some of the main competitors dominating the global end-of-line packaging market include - Bosch Packaging Technology, Krones AG, Optima Packaging Group GmbH, Pro Mach Inc., Gebo Cermex, and IMA S.p.A., Festo Corporation, Combi Packaging Systems LLC, DS Smith plc, Schneider Packaging Equipment..
The global end-of-line packaging market is segmented as follows:
Increasing demand for automated packaging solutions and rising demand for cost-effective packaging solutions are trends that guide end-of-line packaging market growth.
According to the Zion Market Research report, the global end-of-line packaging market was worth about US$ 4821.5 million in 2021 and is predicted to grow to around US$ 6136 million by 2028, with a compound annual growth rate (CAGR) of around 4.1 percent.
The Asia Pacific region is anticipated to hold a dominant market share over the forecast period and is projected to emerge as the most lucrative region for end-of-line packaging market growth through 2028 as industrialization paces in this region and propels market growth.
Some of the main competitors dominating the global end-of-line packaging market include -- Bosch Packaging Technology, Krones AG, Optima Packaging Group GmbH, Pro Mach Inc., Gebo Cermex, IMA S.p.A., Festo Corporation, Combi Packaging Systems LLC, DS Smith plc, Schneider Packaging Equipment.
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