The packaging industry is highly competitive, with a large number of players operating in the market. The industry is fragmented, with the top five players accounting for less than 30% of the market share. The key players in the market are Amcor Limited, Bemis Company, Inc., Mondi plc, Smurfit Kappa Group, and International Paper Company.
The packaging industry has been one of the most active sectors in the adoption of industrial robots, in particular articulated robots, over the last decade. Articulated robots are also increasingly playing a role in end-of-line palletizing application.
The packaging industry plays a major role in the economic development of any country. The industry employs a large number of people and generates a significant amount of revenue. The packaging industry is also a major contributor to the country's gross domestic product (GDP).
The growing demand for sustainable and recyclable packaging is expected to provide new growth opportunities for the packaging market in the coming years. The increasing focus of companies on reducing their environmental footprint is expected to boost the demand for sustainable packaging solutions
The global packaging market is driven by the growing demand for packaged food and beverages, as well as the increasing demand for e-commerce packaging.