The competition in the global market for end-of-line packaging is predicted to get more intense in the next couple of years with the manufacturers expending a lot of energy to come up with innovative and cost-effective solutions to outshine one another. A report by Transparency Market Research (TMR) finds that besides looking to bolster their positions further in the market, savvy companies are also trying to bring down labor costs and better end-of-line packaging techniques. With swift adoption of automated end-of-line packaging in the industrial sector, companies are now focused on pitching their products, with automated systems and robotics, to the sector to increase sales further.
Noteworthy companies operating in the market are Bosch Packaging Technology, Festo Corporation, Gebo Cermex, Schneider Packaging Equipment Co. Inc., Pro Mach Inc., Krones AG Combi Packaging Systems LLC, DS Smith Plc., and IMA S.p.A.TMR predicts the global end-of-line packaging market to rise at a CAGR of 4.0% from 2016 to 2026. The market was worth about US$4.07 bn by 2016 due to popularity of automation across the globe.
Thrust on Automating Industrial Processes to Spur Robust Demand in Asia Pacific
Depending upon the type of end user, the global end-of-line packaging market is segmented into electronics and semiconductor, food and beverages, pharmaceuticals, chemical products, automotive, and consumer products. Among these, the pharmaceuticals segment is predicted to create maximum opportunity in the near future by growing at a maximum pace of 5.0% CAGR. The food and beverages segment, however, is expected to hold on to its leading market share in the near future.
From a geographical perspective, Europe is a leading region and it is slated to maintain its stronghold in the global end-of-line packaging market in the next couple of years. Europe is trailed by North America and Asia Pacific. The revenue grossed from the sales of end-of-line packaging in Asia Pacific is expected to rise at the maximum CAGR of 5.5% from 2016 to 2026 due to the strong demand for high degree of automation across end use industries. Latin America and the Middle East and Africa, however, are slated to see relatively sluggish growth compared to the other regions.
Pressing Need to Automate Manufacturing Processes Propels Demand
A steadily expanding manufacturing sector with a thrust on precise, efficient, and safe processes has been at the forefront of take-up of automation. This has been the single-most important growth driver in the global market for end-of-line packaging solution. “Various end-of-line packaging solution providers are integrating automation to increase the end user throughput and operability of machines. Moreover, the need to modernize manufacturing facilities is anticipated to drive the demand for end-of-line packaging machineries. Today, enterprises with profitable businesses are strategizing to reduce costs to achieve a better bottomline. End-of-line packaging solutions eliminate the need to constantly find and train new workers and allow employers to allocate available workforce in more value adding tasks, which in turn can reduce labor turnover,” elaborates the lead analyst of the TMR report.
Ensuring Accurate Results to Satisfy Customers’ Poses Challenge to Market
A crucial challenge facing manufacturers in the global market for end-of-line packaging is making sure the automation performance satisfies the demand of the customer. Another factor causing a problem is the dearth of centralized purchasing because of manufacturers being largely dependent on different vendors and distributors for standalone machineries in order to integrate the complete end-of-line packaging solutions. This can result in delays in the manufacturing process.
This review is based on the findings of a TMR report, titled, “End-of-line Packaging Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2026.”
End-of-line Packaging Market, by Technology:
End-of-line Packaging Market, by Function:
- Carton erector, packing and sealing
- Stretch wrapping
End-of-line Packaging Market, by Received Order Type:
- End-of-line Packaging Market, by End-use Industries
- Food & beverages
- Electronics and semiconductor
- Others (chemical products and consumer products)
End-of-line Packaging Market, by 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
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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