Packaging Automation Solution Market to Cross USD 52.4 Bn by 2022, Says M&M in Its New Research Report Now Available at MarketPublishers.com21 Dec 2016 • by Natalie Aster
LONDON – As of 2015, the value of the world’s packaging automation solution market exceeded USD 28.3 billion. By the year 2022, the market is likely to reach USD 52.42 billion, posting growth at an 8.68% CAGR. The packaging automation solution market is set to register the highest growth rates in the APAC region.
The market growth will be encouraged by a range of favourable factors like the expanding adoption of automation solutions across different industries, rising demand for supply chain integration, declining labor costs, ongoing technological advancements and innovations, among others. But, the world’s packaging automation solution market growth could be considerably hampered by high capital cost and the high level of maintenance required.
The palletizing machines segment of the packaging automation solution market is expected to demonstrate the highest growth rates through 2022, due to their benefits like time-saving and high efficiency.
Among all application spheres of packaging automation solutions, the demand from the food and beverage industry is expected to gain momentum at an exponential rate in the next 5 years. Today, the market for food and beverages is overwhelmed with numerous manufacturers, who are constantly trying to cut costs, raise efficiency and maintain competitiveness. The usage of primary packaging is compulsory in the food and beverages industry, and this is the key driver spurring demand for packaging automation solutions in this application segment.
New research report “Packaging Automation Solution Market by Product Type, Function, Software and Service, Industry, and Geography - Global Forecast to 2022” prepared by M&M draws a clear picture of the global packaging automation solution market scenario. The report provides a detailed analysis of the market performance and gives the market assessment on the basis of product types, functions, software and services, end-use industries and geography. Porter’s five forces analysis, an insightful review of the major market growth drivers, hinders and major challenges, reliable information on top future growth opportunities and prospects are available in the report. This comprehensive research study highlights the market competitive landscape, new product launches, recent developments, expansions, market strategies, etc. The report comprises 11 granular profiles of the key companies in the packaging automation solution market and also discloses future forecasts up to 2022.
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