The Latin America Packaging Automation market is estimated to grow from $4.48 billion in 2014 to $7.75 billion by the end of 2020. The market is forecasted grow at a CAGR of 9.57% during this period. This is attributed to the healthy growth in economy, increase in employment and decline in population under poverty. The Latin American economy is expected to grow from 2.9% in 2014 to 3.5% in 2015 and 3.7% in 2016. This growth has improved lives of millions throughout the continent. Poverty has declined from 42% in 2000 to 25% in 2012 and the number of middle class has increased from 22% to 34% during the same time.
However, striking difference in socio-economic standards across different regions in Latin America is a major factor hindering growth of packaging automation market. Regions closer to the urban areas have high GDP per capita. This includes countries like Brazil, Mexico and Argentina, with growing economies, contributing maximum to the growth, where as rest of countries in this region still doesn’t have an established market space for packaging automation.
With increasing globalization of production and the intensely competitive nature of the packaging industry, cost cutting becomes imperative as companies are striving to maximize profits; but compromising on quality is not an option as the consumers are increasingly being aware and conscious of the products they use. This has created a great need for automation to be employed in packaging.
Processes like filling, labelling, bagging, palletizing, capping and other several stages of packaging have been automated many parts of the world. No more manual intervention is required for these processes. Enterprises manufacturing products like food, pharmaceuticals, cosmetics, personal care, beverages and even warehouses are increasingly using such automation solutions to streamline their business processes as well as reduce operating costs.
The report provides a comprehensive analysis of the market segmented on the basis of packaging material used and the end user industry. Along with analysis of the major players and their strategies detailed market estimates for the next five years are also included. Some of the major vendors providing packaging automation solutions are ABB, Mitsubishi, Schneider Electric, Rockwell Automation, Swisslog, and Rockwell Automation.
SPECIALITIES OF THIS REPORT
1) The report will be useful in gaining an exhaustive understanding of the regional market. It will also be of assistance in providing a comprehensive analysis of the major trends, innovations and associated prospects for market growth over the coming half a decade
2) The report will be an ideal source material for industry consultants, manufacturers and other interested and allied parties to gain a critical insight into the factors driving and restraining the market, in addition to opportunities offered.
3) The report contains wide range of information about the leading market players and the major strategies adopted by them.
WHAT THE REPORT OFFERS
1) Market Definition along with identification of key drivers and restraints for the market.
2) Market analysis with region specific assessments and competition analysis on a global and regional scale.
3) Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on a global and regional scale.
4) Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares.
5) Identification and analysis of the Macro and Micro factors that affect the industry on both global and regional scale.
6) A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.