NEW YORK, April 21, 2021 /PRNewswire/ --
The "Food Packaging Robotics Market" report has been added to Technavio's library which consists of more than 17000 reports from 150+ industries.
The food packaging robotics market is poised to grow by USD 813.02 million between 2020-2024, progressing at a CAGR of almost 5% during the forecast period.
To ensure seamless productivity, improved quality, and faster supply chains, manufacturers in the food industry are opting for advanced packaging operations. With the development of the Industrial Internet of Things (IIoT), artificial intelligence, and Big Data, manufacturers can ensure seamless communication channels among various robotic machines. Manufacturers are incorporating IIoT and Big Data to monitor real-time operations and manage the volume of perishable manufactured and stored food items. The connectivity between machines, industrial workers, and robots is improved by end-users with the advent of Industry 4.0. A shift from labor-intensive production and packaging activities to automated operations can be observed due to the rising awareness about the advantages of automation. Therefore, the increasing integration of robots with advanced technologies will be one of the major factors driving the growth of the market.
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43% of the market's growth will originate from Europe during the forecast period. Germany and France are the key markets for food packaging robotics in Europe. Market growth in this region will be slower than the growth of the market in APAC. Food packaging robotics market growth in this region can be attributed to the factors such as the increasing preference of consumers for packaged food and the subsequent growth in automation in food manufacturing facilities.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio's in-depth research has direct and indirect COVID-19 impacted market research reports.
Know About the Key Opportunities and Growth of Food Packaging Robotics Market in Industrial Machinery Sector
The food packaging robotics market is segmented by application (primary packaging and secondary packaging) and geography (APAC, Europe, North America, MEA, and South America).
Market growth of the primary packaging segment will be slower than the growth of the market in the secondary packaging segment. Manufacturing and packaging of sensitive and delicate products are taken care of by primary packaging applications. This also gives primary packaging applications a high significance in the food industry. The adoption of more sophisticated packaging such as Tetra packs has made the primary packaging process more complex, which in turn, has led to bottlenecks in its quality and speed. Therefore, to overcome this challenge and optimize operational costs, industries are deploying food packaging robots.
The market is concentrated owing to the presence of a few established vendors offering varied robotic products.
Key Market Dynamics:
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