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Packaging Automation Procurement Market Size
ELINT Market Research’s latest industry analysis in the packaging automation procurement market research report indicates that the global market outlook is still promising, with compound annual growth rate expectations of 7% to 9% from 2024 to 2030. This massive growth could be attributed to the spiraling demand for efficient, cost-effective, and reliable solutions related to packaging across different industries. With the increasing need for increased productivity and lower operational costs, the adoption rate of automated packaging systems has significantly increased. With the investment in an additional amount of $30 million in expanding automated packaging systems, Sealed Air attests to the trend. These new investments will help boost the company’s standing in the market. Still, more fundamentally, they prove this more significant industry shift toward automation and thus paint a picture of incredible potential growth for the packaging automation market.
Amazon’s announcement of more than €700 million in investment in technologies powered by robotics and AI across Europe has further fueled the optimism around growth prospects in the packaging automation market. This massive investment will probably bring about a sea change for the packaging process to be faster and more precise, with the ability to be customizable. Similar is the story behind ways advanced packaging technologies will transform business benefits for Bell’s Brewery, which has invested $2.6 million in automation to expand production capacity for variety packs fivefold. These developments are a strong testimony of faith in what marker potentials can deliver and a commitment toward using automation to unleash operational excellence.
Market Definition
The packaging automation market entails many technologies and systems to achieve an overall streamlining and optimal process of packaging product expectancy across various industries. These are the advanced technologies to automate activities like filling, labeling, case packaging, bagging, palletizing, capping, and wrapping. The automation in these solutions will often enhance the efficiency of any business while integrating with other aspects of their packaging operations by reducing labor costs and improving consistency and reliability.
Packaging Automation Procurement Market Drivers
- Demand for Ready-to-Use Products
One of the main drivers is the increase in demand for packed goods, driven by increased customer preferences for convenience and ready-to-use items.
- Emphasis on Sustainability
Investment in automation revolves around increasing sustainability, minimizing waste of packaging materials, and optimizing the use of such materials.
Packaging Automation Procurement Market Challenges
- High Initial Investments
High initial capital investments and difficulties integrating such automated systems into existing production lines can become serious obstacles for some companies.
- Shortage of Technical Expertise
Advanced systems will always need continuous operation and proper maintenance by specifically trained personnel, which can be challenging in regions that require more technical expertise.
Packaging Automation Procurement Market Opportunities
- Rapid Growth of E-Commerce
Efficient and versatile packaging solutions are needed with e-commerce and the growth of online retailing to cope with a diversity of products and packaging types.
- Preference for Customization
With the emerging trend of customization and personalization of packaging, companies can better strategize and design solutions to meet their tailored needs.
Packaging Automation Procurement Market Segmentation
- The packaging automation procurement market research report segments the market by product type into filling, bagging, palletizing, labeling, case packaging, capping, and wrapping systems.
- The packaging automation procurement market research report classifies the market by end-user into food, beverage, personal care, toiletries, pharmaceuticals, and industrial and chemicals.
- As per region, the packaging automation procurement market research report divides the market into Europe, Asia-Pacific, Latin America, North America, the Middle East, and Africa.
Regional Outlook of the Packaging Automation Procurement Market
The regional perspective of the packaging automation market points to varied growth dynamics across regions. North America and Europe are mature markets with high adoption rates of advanced packaging technologies primarily driven by solid regulatory standards and the presence of major manufacturing companies. The Asia-Pacific is estimated to experience substantial growth in this market, primarily driven by emerging trends of rapid industrialization and urbanization and a rise in consumer demand for packaged goods. While still under development, Latin America, countries in the Middle East, and Africa register quite good potential by nurturing higher investment in industrial automation and growing end-user industries.
Cost Component in the Packaging Automation Procurement Market
Cost components involved in the packaging automation market include initial capital expenditures, operational costs, maintenance, and training expenses. Capital expenditures further break down into the costs incurred in the machinery purchased for automation, including the software and installation prices. The cost of operations is only related to energy consumption, labor rates, and handling expenses. Maintenance includes many things, including regular servicing and repairing of the automated systems for proper working and long life.
Engagement Strategies in the Packaging Automation Procurement Market
Part of effective engagement strategies in the packaging automation market is technology innovation ingrained with baked-in customer-centric methods. Such technologies enable the company to understand its customer’s needs and challenges and develop solutions that give them an edge in productivity and efficiency.
Contract Period in the Packaging Automation Procurement Market
The contract period within the packaging automation market depends on the product complexity and customer needs. It could range from short-term terms that cover specified projects or their implementation phases to long-term relationships that provide multiple-year service and support. A long-term contract concept would include provisions for regular maintenance, upgrading, and training so that the automated systems work optimally as they always should.
Negotiation Factors in the Packaging Automation Procurement Market
Price is the most important factor to customers who want cost-effective solutions that will give them a good return relative to the amount spent on them. The other critical aspect that influences the negotiation has traditionally been jurisdictional matters, mainly regarding the scope of work or level of customization and integration. Other issues that come into play include delivery timelines and the availability of after-sales support and training services.
Leading Players in the Packaging Automation Procurement Market
Major companies which dominate the packaging automation market with their developed technologies, gained through immense experience in good customer support services, are Multivac Group, ABB Ltd., Coesia SpA, Automated Packaging Systems, Inc., ULMA Packaging, Beumer Group GmbH & Co. KG, Syntegon Technology, Emerson Electric Company, Swisslog Healthcare, and Kollmorgen Corporation.
