PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1515556
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1515556
Packaging Robots Market size was valued at USD 5,984.2 Million in 2023, expanding at a CAGR of 11.60% from 2024 to 2032.
Packaging robots are specialized robots with high flexibility and programmability, industrial control systems (ICS), multipurpose applications with three or more axes. They can be fixed in place or mobile for industrial activities such as picking, packing, and palletizing. Packaging robots are industrial robots that are used in manufacturing facilities to do tasks such as filling, primary packaging, putting, picking, palletizing, and de-palletizing. Packaging robots offer a number of advantages, including reduced part packaging time, lower labor costs, and the capacity to lift heavier packages. These robots are utilized in a variety of industries, including pharmaceuticals, chemicals, food and beverage production, electronics, warehousing, and consumer goods manufacturing.
Packaging Robots Market- Market Dynamics
Customer Need for Sustainable Packaging Solutions is Projected to Fuel Future Growth
Increasing customer demand for sustainable packaging solutions is expected to drive future growth in the packaging robot industry. Sustainable packaging solutions are ecologically responsible and resource-efficient packaging alternatives that aim to reduce environmental effect throughout the product's lifecycle. Sustainable packaging solutions make use of packaging robots to increase packing efficiency, reduce material waste, and improve precision. The incorporation of packaging robots is consistent with the overall goal of sustainable practices. For instance, according to a study published in August 2023 by SmashBrand, a US-based packaging design company, the packaging industry is experiencing rapid growth, with a projected 6% increase in the sustainable packaging market by 2027, with many businesses committing to using recycled packaging in the future.
Packaging Robots Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 11.60% over the forecast period (2024-2032)
Based on Gripper Type segmentation, The clamp and claws category dominated the global packaging robot market.
Based on Service segmentation, Pick & Place is predicted to have the highest CAGR growth.
On the basis of region, Asia Pacific was the leading revenue generator in 2023
The Global Packaging Robots Market is segmented on the basis of Gripper Type, Service, End User, and Region.
The market is divided into four categories based on Gripper Type: Vacuum, Clamp, Claw, and Others. The clamp and claws category led the worldwide packaging robot market in terms of revenue and is predicted to grow at the quickest CAGR over the forecast period. The category is expanding fast due to increased demand from the food and beverage and pharmaceutical industries.
The market is divided into three categories based on Service: Pick & place, Packing, and Palletizing. Pick & Place is expected to have the highest CAGR growth. The explosive growth of the e-commerce sector, as well as the demand for packaging robots from this sector, are thought to be driving market expansion. Picking robots are increasingly preferred by e-commerce companies for order fulfillment over manual item picking. The efficiency and cost of item picking have improved thanks to automation. Robot automation allows for easy integration, increased flexibility, and high dependability throughout the packing phase of the packaging process.
Packaging Robots Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. The Asia Pacific region had the highest revenue share in 2023. Packing is an important step in manufacturing facilities, particularly those that produce items for the consumer market. The inclusion of a robotic packaging system boosts the packaging line's flexibility and total production capacity. Packaging robots can work at various temperatures and require substantially less floor area than humans. Robotic packaging is widely utilized in the food, beverage, and pharmaceutical industries for both primary and secondary packaging purposes.
Europe accounted for the second biggest market share, owing to changing consumer lifestyles and increased consumption of food and other consumer goods.
Several important competitors in the Packaging robot market compete to provide novel robotic solutions for packaging operations. Companies such as ABB Limited, AFAST Robotics, BluePrint Automation, Bosch Packaging Technology, Brenton Engineering, and Epson Robots are pioneering the development of robotic systems specifically for packaging applications. These companies integrate robots into the production line to improve automation, efficiency, and flexibility of packaging operations. Understanding the competitive landscape in the packaging robots' market will help organizations stay up to date on the most recent technology and trends in automated packaging.
in August 2022, Maxpack Machinery LLC debuted Leap by Maxpack, a breakthrough piece of packaging machinery that allows clients to pay overtime. Leap is Maxpack's answer to the fast-growing Buy Now, Pay Later market. The automation equipment is available in premium packages with 18 interest-free, credit-free installments spread over 18 months.
GLOBAL PACKAGING ROBOTS MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
ABB Limited
AFAST Robotics
BluePrint Automation
Bosch Packaging Technology
Brenton Engineering
Epson Robots
Fanuc Corporation
Fuji Yusoki Kogyo
Intelligent Actuator
Krones AG
Kuka Roboter GmbH
Mitsubishi Electric Corporation
Reis Robotics
Remtec Automation LLC
Schneider Electric SE
Yaskawa Electric Corporation
Yamaha Robotics
Others