Packaging Automation Market: Need for Lowering Operational Costs to Propel Adoption

The packaging market is expected to witness substantial growth over the next couple of years owing to the growing demand from industry verticals, says Transparency Market Research (TMR) in a research report. The publication is titled, “Packaging Automation Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016–2024.”

The report states that the application of packaging automation equipment ranges from pharmaceuticals to food and beverages. Several end-use companies are striving to promote their brands in order to enhance the visibility of the product in the market. Nevertheless, at the same time they are also focusing on minimizing their cost of operations. As a result of this, the demand for packaging automation equipment is substantially rising as they able to reduce the operation cost to some extent. This one of the primary factors influencing companies to deploy packaging automation as cost cutting in packaging refers to increasing levels of semi automation processes and automating various manual processes.

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The global market for package automation is mainly driven by the growing level completion across several industrial units due to players striving to decrease the packaging related costs and not compromising with the quality of products. In a global level, many companies who are involved in the food and beverages market, have set up their manufacturing units in Asia Pacific. Several of these units are employing packaging automated market in order to decrease their operational costs. Moreover, the demand for packaging automation is expected to gain momentum worldwide owing to the low run time process they deliver.

Nevertheless, the growth of the market is also expected to be augmented by the growing competition in the personal care products and food and beverages market over the coming decade. The primary obstacle in the growth of the market is likely to be the high capital investment required in setting up the packaging automation machinery. In spite of the high growth the packaging automation industry has exhibited over the last couple of years, the market is also expected to be challenged by the high maintenance cost and high operating cost incurred. This could turn out to be a major setback in the growth of the market. The overall potential of the packaging automation market has been limited due to the lack of capital funds with small scale manufacturers.

Region-wise, the market is expected to be dominated by Asia Pacific due to exponential growth in the food and beverages industry in the region and need for convenient packaging techniques. The key participants in the market include Mitsubishi, Swisslog, Jls, Schneider Electric, Mitsubishi, De-Sta-Co, Rockwell Automation, and ABB.

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This release was published on openPR.