The size of the packaging automation market was $61,849 million in 2021. This will reach to $125,220 million by 2030, advancing at a growth rate of 8%in the years to come. The growing acceptance of automation in the industrial sector, fast industrialization, increasing manufacturing actions because of the rising population, and necessity to lower the labor need are the prime factors for the industrial growth.
Filling equipment has the largest share of revenue, of approximately 23%, in 2021, and it will continue in the years to come. This has much to do with the wide use of automated filling machines to improve packaging processes. Packagers can save both cost and time of packaging with the advanced dependability, constancy, and adaptability of automatic machines.
Filling equipment accounted for the largest revenue share, of around 23%, in 2021, and it is expected to continue the trend during the forecast period. This can be attributed to the wide usage of automated filling machines to improves packaging operations. Packagers can save the time and cost of packaging with the higher reliability, consistency, and versatility of automated machines.
The booming e-commerce sector is driving the industry as there is an enormous necessity for packaging equipment through e-commerce stages of production, including the secondary and primary packaging, classification, and encrypting and marking of the products.
The pharmaceutical category will witness the fastest growth in the years to come, at a growth rate of about 9%. This has a lot to do with the fast growth of the pharma industry, growing demand for workable packing solutions, high R&D expenditure, and increasing funding by stalwarts of the market for improving their manufacturing competences.
Food Processing had over 37% revenue, in 2021, and it will continue this way in the years to come. This is because of the high demand for automated food packaging machineries as they advance output and offer safety without human interference. By the way, the key drivers are the growing investments by government and market players in setting up granaries for storing food products, because of the quickly increasing retail sector.
The increasing beverage consumption, instable customer preferences toward organic and useful beverages, and a wide variety of beverages will be the main drivers for the demand of packaging robot at beverage workshops. Furthermore, beverage companies, like Coca-Cola and Pepsi, are increasing their product portfolio, driving the sales of packaging machines for beverage.
The requirement for packaging machines combined with the IoT technology and smart systems is increasing because of the rapid tech progressions in this domain. Packing machines with such progressive technologies can be effortlessly supervised from anyplace, through PCs, mobiles, and laptops. Such advanced technologies make it rather easy for production line machinists to assess the competence and reliability of these automatic systems.
APAC had the largest revenue share in the packaging automation market, of over 37%, in the recent past, and it will maintain its position in the years to come. This will be because of the fast urbanization, increasing household buying capacity, increasing e-commerce sector, and government policies on energy conservation and knowhow and equipment advancements.
Due to the rapidly growing beverage industry, requirement to reduce the packing time and cost, the demand for packing automation industry is on the rise.