The "Packaging Automation Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The packaging automation market is expected to grow at a CAGR of 5.7% over the forecast period (2021-2026).
Robert Bosch GmbH
Tetra Pak International S.A
Graphic Packaging International, LLC
I.M.A Industria Macchine Automatiche S.p.A
Ishida Co. Limited
Marchesini Group S.p.A
Key Market Trends
Pharmaceutical Industry to Show Significant Growth
The pharmaceutical industry is now investing more toward the packaging automation solutions to improve production efficiency. According to the Evolution of Automation, produced by PMMI, less than 50% of the pharmaceutical and medical device companies have inline integration. Hence, there is a huge opportunity for packaging automation vendors in the pharmaceutical industry.
A recent study by FDANews stated that around 80% of the deviations observed could be attributed to human error. Also, in the United States, 90% of the prescriptions have generic drugs, but only generates 28% of the revenue of the pharmaceutical revenue, resulting in an increasing demand for small batch production. With the packaging automation, consistent quality, even for small batch production, can be achieved.
The adoption of industry 4.0 in the pharmaceutical industry has shown significant growth. Its ability for continuous process control for all the operations, including packaging, provides analytical insights and helps in drawing quicker decisions where attention is needed and reduces human interventions.
Further, with the decreasing cost of robotics systems such as parallel robots, arms robots, the pharmaceutical companies are starting to accept the fiscal advantages of robotics components over the obsolete equipment as they offer automation with sustainability and flexibility.
According to the Italian Packaging Machinery Manufacturers Association report in 2018, the filling and FFS type of pharmaceutical packaging machinery together covered more than 65% share.
North America to Hold a Major Market Share
Due to the high penetration of packaging machinery in the region, North America accounts for a significant market share. The formation of the 'Advanced Manufacturing Partnership (AMP)' is an initiative undertaken by the United States to make the industry, universities, and the federal government invests in emerging technologies. This initiative has helped the country gain a competitive edge in the global economy by investing in packaging equipment used in the final line of production.
The country also boasts of a strong export base of packaging machinery, which has contributed to its growth. Companies, like Bosch Packaging Services, have expanded their businesses by investing in various packaging sectors, such as confectionery, bakery, fresh food, frozen food, and pharmaceutical.
Additionally, vendors in the region are leveraging sustainability to capture the market. For instance, In July 2019, Ranpak Automation announced the North American of EVO Cut'It. It is an automated packaging machine for product shipping and fulfillment companies that automatically reduces the carton size based on package content volume.
The increasing pace of competition forces manufacturers to reduce the costs of their packaging processes, thus opting for automation.
The labor wage is one of the largest expenses for any business. Also, in 2018, according to the Economic Policy Institute (EPI), the United States' minimum wage rose by 2.6%, the highest since 2008. Hence, the business organizations are pushed to comprise in its margin with the high competition in their market. The packaging automation enables the reduction in required labor hours for packaging and streamlines the process.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.4 Market Drivers
4.4.1 High demand in key end-user markets
4.4.2 Ongoing technological developments
4.4.3 Impact of Safety Standards & Regulations
4.5 Market Restraints
4.5.1 High costs and import duties pose a challenge for new customers
4.6 Impact of COVID-19 on the Packaging Machinery Industry
5 TECHNOLOGY SNAPSHOT
6 MARKET SEGMENTATION
6.1 By Product Type
6.2 By End-user Industry
6.3.1 North America
6.3.4 Latin America
6.3.5 Middle East & Africa
7 GLOBAL FMCG MARKET OVERVIEW
7.1 Market Overview & Impact of COVID-19 on FMCG industry
7.2 Market Breakdown - by Type (Overview, Forecasts, Trends & Key performing categories within each sub-segment)
7.3 Market Segmentation - by Distribution (Overview, Trends & Market Outlook)
7.4 Market Segmentation - by Geography (Overview, Trends, Analysis, Key brands & Market Outlook)
8 COMPETITIVE LANDSCAPE
9 FUTURE OUTLOOK OF THE MARKET
For more information about this report visit https://www.researchandmarkets.com/r/z1pw2l
View source version on businesswire.com: https://www.businesswire.com/news/home/20210413005594/en/
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900