The global packaging automation market is likely to exhibit a CAGR of 9.7% between 2016 and 2025. At this the market’s valuation will reach US$69.73 bn in 2025, from US$31.12 bn in 2016.
In terms of application, the global packaging automation market is segmented into palletizing, labelling, filling, capping, and wrapping. Of these, the palletizing segment held the dominant share of 27% in the market based on revenue in 2016. It is also forecast to continue leading the market through the course of the forecast period. Paradigm shift from traditional palletizers to hybrid palletizers is intended to make packaging automation easier. Furthermore, this advancement in technology can adapt multiple requirements, thereby facilitating product changeover. This is a key factor boosting the palletizer segment.
By type, the global market can be classified into packaging robot, automated packagers, and automated conveyors. Of these, the market is forecast to witness increasing demand for packaging robots. In terms of industries, food and beverage, healthcare, logistics, retail, electronics, automotive, and others constitute the key market segments. Of these, the food and beverages sector accounted for the leading market share of 24.3% in 2016. The rising demand for automation in the food and beverages industry is facilitated by the intensifying competitive among contemporaries in the business.
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Regionally, Asia Pacific, Europe, North America, Latin America, and the Middle East and Africa are the key segments in the global packaging automation market. In 2016, Europe accounted for the leading market share of 37% based on revenue. Asia Pacific and North America, emerged as the second and third leading markets for packaging automation, respectively, in the same year. In Europe, the packaging automation market is gaining from the presence of a large number of industries.