The level of competition in the global end-of-line packaging market is expected to rise as the manufacturers are focusing on innovation and introducing cost-effective solutions to gain a competitive advantage in the market, says Transparency Market Research (TMR) in a research report. Companies are striving to gain a leading position in the market and are thus also looking forward to reducing their labor costs along with innovation in the end-of-line packaging techniques. The adoption of automated end-of-line packaging is growing robustly in the industrial sector, thus impelling vendors to focus on advanced automated systems and robotics. Some of the prime players operating in the market are Gebo Cermex, Schneider Packaging Equipment Co. Inc., Festo Corporation, Combi Packaging Systems LLC, Pro Mach Inc., DS Smith Plc., Bosch Packaging Technology, IMA S.p.A, and Krones AG.
According to a TMR analyst, “The global end-of-line packaging market is projected to witness a 4.0% CAGR from 2016 to 2026. The market is expected to touch a valuation of US$4,070.5 mn by 2016 end owing to the rise in industry automation across the globe.”
Dominance of Food and Beverages Industry to be Challenged by Automotive Sector
On the basis of end user, the global end-of-line packaging market is segmented into food and beverages, pharmaceuticals, electronics and semiconductor, automotive, chemical products, and consumer products. Amidst these, the pharmaceuticals segment is anticipated to exhibit a CAGR of 5.0% in terms of value during the forecast period and emerge dominant in terms of growth. The food and beverages segment is projected to maintain a leading position throughout the forecast period. The automotive segment has been identified as the second most lucrative market for end-of-line packaging dealers. The automotive segment is also estimated to expand at a 4.6% CAGR from 2016 to 2026 in terms of revenue. The design and size of the production units and warehouses are vital factors that are expected to boost the adoption of customized end-of-line packaging. As end-use industries are progressively displaying interest on customized end-of-line packaging solutions, this segment is likely to witness promising growth in the near future.
Geographically, the market for end-of-line packaging in Europe is expected to grow robustly over the coming years and emerge dominant in the global market. It is expected to be closely trailed by North America and Asia Pacific in the exact order. However, the Asia Pacific end-of-line packaging market is projected to lead in terms of growth with a CAGR of 5.5% during the forecast period. The sales of end-of-line packaging is likely to reflect an upward trend in developing countries. This is mainly because of the rising demand for high-end automation across several vertical end-use industries. Latin America and the MEA are likely to witness comparatively slower growth in comparison to the other regions.
Need to Modernize Present Manufacturing Line to Augment Demand for End-of-line Packaging
The benefits of automated end-of-line packaging and installation of robots include the reduction in product damage, rising accuracy, and low manufacturing cost. The growing requirement for modernizing and improving the existing manufacturing facilities is expected to drive the growth of the global end-of-line packaging market. Enterprises and organizations with profitable business are implementing strategies to reduce the manufacturing costs to achieve a better profit margin. Industries in developing regions are facing problems due to the dearth of skilled labor and the high cost of labor. Implementing automated end-of-line packaging will help these industries eliminate the unnecessary costs. The rising demand for consumer goods has further impelled manufacturers to install automation in end-of-line packaging. However, to ensure high quality that meets the customers’ expectations is likely to emerge as a challenge for manufacturers.
This review is based on a Transparency Market Research report titled, “End-of-line Packaging Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016–2026.”
The market has been segmented as below:
End-of-line Packaging Market – Technology
End-of-line Packaging Market – Function
- Carton erector, packing and sealing
- Stretch wrapping
End-of-line Packaging Market – Received Order Type
End-of-line Packaging Market – End-use Industries
- Food & beverages
- Electronics and semiconductor
- Others (chemical products and consumer products)
End-of-line Packaging Market – Regional Analysis
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- Asia Pacific (APAC)
- South Korea
- Rest of Asia Pacific
- Middle East and Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA
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