Global end-of-line packaging market expected to generate revenue of around USD 5.54 billion by the end of 2024, growing at a CAGR of around 4.10% between 2018 and 2024. Packaging based on primary fiber paperboard offers consistency, better performance, and uniformity.
Sarasota, FL -- (SBWIRE) -- 09/06/2018 -- Zion Market Research has published a new report titled "End-of-line Packaging Market by Technology (Automatic and Semi-Automatic), by Function (Standalone [Palletizing, Carton Erector, Packing and Sealing, Stretch Wrapping, Labeling, and Others], and Integrated), by Order Type (Standard and Customized), and by End-User (Pharmaceuticals, Food and Beverages, Automotive, Chemical, Electronics and Semiconductor): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2024". According to the report, global end-of-line packaging market was valued at approximately USD 4.18 billion in 2017 and is expected to generate revenue of around USD 5.54 billion by the end of 2024, growing at a CAGR of around 4.10% between 2018 and 2024.
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The packaging operation consists of all the activities that are involved in combining a product. The packaging line is designed in order to achieve speed and overall quantity of the product required to pack that range from manual operation up to the fully automated high-speed operation. The packaging operation also includes storage and handling of packaging prior to its usage on the packaging line and in the assembly of transportation packages for storage and distribution. The efficiency of packaging line depends on the machine, or method in a manually operated line, product, operators, and also the quality of packaging material. The important task required to fulfill on the packaging line is to minimize the number of damaged packages and to maximize output.
Packaging based on primary fiber paperboard offers consistency, better performance, and uniformity. The packaging producer needs to be aware of the cost implication of packaging efficiency as it may have a positive influence on the overall cost of packaging. Moreover, increasing demand to incorporate automation in the production assemblies to address the shortage of skilled workforce, particularly in the developing countries, is expected to increase the adoption rate of automation in the manufacturing processes and production lines.
The end-of-line packaging market is segmented on the basis of technology into automatic and semi-automatic. Automatic technology held major revenue share in 2017, due to growing demand from various end-user industries to ease packaging of materials and increase the throughput.
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Based on function, the end-of-line packaging market has been segmented as standalone and integrated. The standalone segment is further divided into palletizing, carton erector, packing and sealing, stretch wrapping, labeling, and others. The standalone segment contributed to significant revenue share in 2017. Shrink wrapping machines form pad or tray supported packages by using a single roll of print registered film. Shrink wrappers provide accurate placement of graphics on each package. It handles multiple product sizes and package configuration which includes cans and bottles.
Based on end-user, the market is segmented into pharmaceuticals, food and beverages, automotive, chemical, electronics, and semiconductor. Food and beverage segment is expected to account for substantial revenue share in 2017. The growth is attributed to the increasing demand for packaging machinery to decrease human handling of food for hygiene reasons and rapid urbanization.
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa are regional segments of global end-of-line packaging market. Europe is anticipated to account for the major revenue share in 2017. The growth is attributed to the presence of major industry players in the region. The Asia Pacific is predicted to exhibit the highest growth rate over the forecast period. The region is the hub for food and beverages and healthcare industries, which have an increased demand for innovative packaging solutions.
Some of the key players operating in end-of-line packaging market include Pro Mach, Inc., IMA S.p.A., Bosch Packaging Technology, Krones AG, Schneider Packaging Equipment Co. Inc., DS Smith Plc., Festo Corporation, Combi Packaging Systems LLC, and Gebo Cermex.
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This report segments the global end-of-line packaging market as follows:
Global End-of-line Packaging Market: Technology Segment Analysis
Global End-of-line Packaging Market: Function Segment Analysis
Packing and Sealing