Packaging Robots Market Growth to Hit 11.49% CAGR, Globally, by 2028 – Exclusive Report by The Insight Partners
The global packaging robots market share worth $8.44 billion by 2028, at a growing CAGR of 11.49% from 2021 to 2028.
Pune, India, Nov. 09, 2023 (GLOBE NEWSWIRE) —
The Insight Partners published latest research study on “Packaging Robots Market Size and Forecast (2021–2028), Global and Regional Share, Trends, and Growth Opportunity Analysis – by Industry Vertical (Food & Beverages, Pharmaceuticals, Consumer Electronics, and Others), Application (Primary Packaging, Secondary Packaging, and Tertiary Packaging), and Geography” the market in terms of revenue was estimated to be worth $3.94 billion in 2021 and is poised to reach $8.44 billion by 2028, growing at a CAGR of 11.49% from 2021 to 2028.
The growth of the packaging robots market is driven by rising demand for packaging robots from several industries and growing demand for reducing the overall operation costs across packaging sector. However, intelligent modernization and adoption of vision sensor technology is emerging as a future trend in the industry.
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Global Packaging Robots Market Scope:
|Market Size Value in||USD 3.94 billion in 2021|
|Market Size Value by||USD 8.44 billion by 2028|
|Growth rate||CAGR of 11.49% from 2021 to 2028|
|Segments covered||Industry Vertical, Application, and Geography|
|Regional scope||North America; Europe; Asia Pacific; Latin America; MEA|
|Country scope||US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
Growing E-Commerce Sector is Fueling the Growth of the Global Packaging Robots Market:
Since the COVID-19 pandemic, there has been a surge in online shopping across the world. E-commerce sales have witnessed a significant growth rate over recent years. According to the International Air Transport Association (IATA), in 2021, 2.14 billion people (i.e., 27.6% of the world’s population) shopped for products from online portals. In addition, APAC leads the global e-commerce market, where China accounts for a significant percentage of the regional market growth. As per the International Trade Administration, China is the largest e-commerce market across the world, generating 50% of the world’s transactions. In 2021, the country generated USD 1.5 trillion in revenue through the e-commerce sector, becoming the largest e-commerce market in the world. Also, Europe is a key region supporting e-commerce growth. According to Eurostat, in 2022, 91% of people aged 16–74 years in the European Union (EU) countries used the internet, of which 75% ordered goods or services online. Also, the proportion of e-shoppers grew to 75% in 2022 from 55% in 2012, an increase of 20% over the last decade. Many shoppers in Europe prefer online shopping platforms such as Amazon, Target, and Walmart, which majorly drives the growth of the e-commerce sector in Europe. The growing demand for online shopping is pushing companies to perform faster picking and placement operations, which is raising the demand for packaging robots. In the e-commerce industry, picking robots are used for order fulfillment as manually picking of items is associated with a lot of time and cost. This high growth of the e-commerce industry is raising the need for picking and packaging robots, fueling the market growth.
The growing automation and emerging robotic technology are the major factors raising the demand for packaging robots worldwide. Europe is witnessing the growing adoption of automation in various industries. In Europe, Germany is a highly automated economy. The country had around 230,000 industrial robots in 2020, out of which the manufacturing facilities the country installed 22,300 new industrial robots in 2020 alone. According to the International Federation of Robotics (IFR), the country accounted for 33% of overall robot inventory in the region. The usage of robots in manufacturing facilities across Germany accounts for more than three times as compared to Italy, which has 78,200 industrial robots. Similarly, in 2020, France had around 44,800 industrial robots, whereas the UK accounted for 23,000 industrial robots. Thus, the growing awareness related to the benefits of using robots in parallel to humans in the manufacturing industry is easing manufacturing operations and increasing the production volume. Thus, the growing adoption of robots across various manufacturing facilities is fueling the growth of the packaging robots market growth in Europe.
Furthermore, the digital industrial revolution, i.e. Industry 4.0 is helping to increase flexibility in manufacturing, mass customization, increased speed, better quality, and improved productivity in factories. Because of this, automobiles, food & beverage, retail, electronics, and other sectors are installing industrial robots to increase productivity. Also, in 2021, in Italy, out of the total industrial robots installed, around 10% contributed in the packaging industry. Thus, the rising adoption of robots in the manufacturing and packaging process is boosting the market growth in the forecasted period.
Global Packaging Robots Market: Segmental Overview
Based on industry vertical, the packaging robots market is segmented into food & beverages, pharmaceuticals, consumer electronics, and others. The food & beverages segment held the largest packaging robots market share in 2021, whereas the pharmaceuticals segment is anticipated to register the highest CAGR in the market during the forecast period. Based on application, the market is bifurcated into primary packaging, secondary packaging, and tertiary packaging. According to the market research, the primary packaging segment held the largest packaging robots market share in 2021, whereas the secondary packaging segment is estimated to register the highest CAGR in the market during the forecast period.
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Global Packaging Robots Market Analysis: Competitive Landscape and Key Developments
ABB Ltd, Brenton Engineering, FANUC Corporation, Krones AG, KUKA Roboter GmbH, Mitsubishi Electric Corporation, Remtec Automation LLC, Robert Bosch GmbH, Schnider Electric, and Yaskawa America are among the few of the key packaging robots market players. The packaging robots market players focus on new product launches, expansion and diversification, and acquisition strategies, which allow them to access prevailing business opportunities.
- In June 2023: ABB announced the opening of its new Robotics Packaging and Logistics Headquarters, located north of Atlanta in Alpharetta, Georgia. The new facility will serve as ABB‘s dedicated center for robotic automation solutions in the logistics and packaging industries.
- In March 2023: PeakLogix announced its partnership with Peer Robotics to bring innovative robots to the material handling industry. Under this partnership, Peer Robotics will combine its expertise in collaborative robotic solutions with PeakLogix’s extensive experience in material handling and warehouse management software, thus providing comprehensive solutions tailored to each client’s unique needs.
- In April 2021: Italian packaging company Altopack announced that it has teamed up with Halodi Robotics to co-develop a robot that can refill consumables such as plastic and cardboard for packaging machines. Halodi Robotics has developed a humanoid robot that performs pre-programmed tasks using artificial intelligence (AI). It moves using a set of two wheels and has movable arms to conduct work tasks. Under the terms of the agreement, the companies will work closely together to develop and adapt the packing robot’s software. Part of the work will take place at Altopack’s development center in Bologna.
Go through further research published by The Insight Partners:
Food and Beverage Packaging Robots Market – Global Analysis and Forecast to 2030
Packaging Equipment Market – Global Analysis and Forecast to 2030
Packaging Automation Solution Market – Global Analysis and Forecast to 2030
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