Albany, NY -- (SBWIRE) -- 01/03/2018 -- Packaging is one of the important elements in the product manufacturing process. It helps in protecting the products from physical damage, dust, and various other factors, adding further value to the products. In order to maximize profits, cost cutting has become important in the light of intense competition. Packaging process is carried out with the help of different packaging machineries and robotics which help in completing the tasks more efficiently and effectively.
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Use of automation in the packaging industry is likely to help improve labor productivity, ensure packaging quality, and also help in reducing packaging cost and storage cost. Safety regulations are major concerns among manufacturers especially in the health care and food and beverage industry, more so in emerging economies.
The global packaging automation market is likely to exhibit a CAGR of 9.7% between 2016 and 2025. At this the market's valuation will reach US$69.73 bn in 2025.
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Food and Beverages Industry Exhibits High Demand for Packaging Automation
In terms of application, the global packaging automation market is segmented into palletizing, labelling, filling, capping, and wrapping. Of these, the palletizing segment held the dominant share of 27% in the market based on revenue in 2016. In terms of industries, food and beverage, healthcare, logistics, retail, electronics, automotive, and others constitute the key market segments. Of these, the food and beverages sector accounted for the leading market share of 24.3% in 2016.
On account of the rising demand from emerging nations, Asia Pacific is expected to continue exhibiting lucrative opportunities for the market. The region is also home to booming automotive, healthcare, and food and beverages industries, which exhibit high demand for advanced packaging solutions.