The packaging suction cups market is likely to register a CAGR of 6.8% during the forecast period of 2022 to 2032. And the global packaging suction cups market share is anticipated to reach a value of up to USD 16.22 Billion in 2032, from USD 8.4 Billion in 2022.
Over the years, packaging suction cups market has been embracing automation to increase productivity, propelled further by rising popularity of smart labels and digital printing for packaging.
As demand for packaging suction cups machinery that performs all functions, from forming packaging products to labelling and wrapping, companies are engaging in the development of efficient and advanced packaging machines.
| Attributes | Details |
|---|---|
| Packaging Suction Cups Market (CAGR) | 6.8% |
| Packaging Suction Cups Market Size(2022) | USD 8.4 Billion |
| Packaging Suction Cups Market Size(2032) | USD 16.22 Billion |
With greater emphasis on minimizing human intervention in the packing industry, vacuum cups or suction cups have created a buzz, hence escalating the sales of packaging suction cups. It enables easy handling of bags & boxes and complex-shaped products reliably in an automated process creating greater demand for packaging suction cups regardless other cheap materials, goods, and fills levels.
Growing adoption of automated process in packaging industry is expected to significantly contribute to the sales of packaging suction cups by decreasing the cost of unit production. Often used as grippers in automated handling applications, suction cups are finding increasing applications in food & beverage and pharmaceutical packaging which has increase the sales of packaging suction cups even further.
The COVID-19 pandemic has had an influence on a number of businesses. In addition to this impact, the COVID Pandemic has created a few new business prospects for the packaging suction cups market share. Due to the epidemic, the whole readymade food market got disrupted consequently severely impacting the sales of packaging suction cups in the retail market.
However, the interruption of the supply chain caused by the pandemic is expected to have some limiting impacts on the packaging suction cups market share growth throughout the forecast period.
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Manufacturers contributing to the worldwide packaging suction cups market remain focused on improving the functionality and suitability of suction cups to all shapes and sizes of packaging products. In order to set their product unique in the market along with boosting sales of packaging suction cups most of the market players are experimenting with innovative materials.
In addition to adopting product-level innovation strategy, manufacturers of packaging suction cups, catering to the packaging industry, are focusing on identifying and leveraging white spaces in application of their products that has also surged the demand for packaging suction cups in the global market.
For instance, as flexible packaging continues to gain momentum in a number of industries, especially the F&B sector, manufacturers are targeted towards developing advanced vacuum cups that align with flexible packaging process. Development of suction cups with FDA approved materials for the packaging industry also remains a key focus area of the packaging suction cups market players.
With the growing cosmetics and wellness sector, as well as increased R&D and new product launches by major competitors are the expected to boost the packaging suction cups market share in the coming days.
North America and Europe’s packaging suction cups markets share is projected to remain at the forefront, attributing to strong presence of manufacturers with greater access to advanced technology, and growing rate of automation in the industry. Growth prospects of the packaging suction cups market share are expected to remain high in the developed countries as well, such as in United States, Germany, France, Italy, and Australia.
High growth opportunities are also expected in East Asia countries, especially China, owing to growing automation in its industries. Ever-rising demand for FMCGs and pharmaceuticals in the region is projected to work for the advantage of the market players by escalating the demand for packaging suction cups.
Adams Manufacturing Corporation, All-Vac Industries, Inc., ANVER Corporation, Coval Inc., J. Schmalz GmbH, Piab AB, VacMotion Inc., Vi-Cas Manufacturing Company, and William B. Rudow, Inc. are the prominent competitors mentioned in the packaging suction cups market survey.
Recent Developments in the Packaging Suction Cups Market
| Report Attribute | Details |
|---|---|
| Growth rate | CAGR of 6.8% from 2022 to 2032 |
| Base year for estimation | 2021 |
| Historical data | 2015 to 2021 |
| Forecast period | 2022 to 2032 |
| Quantitative units | Revenue in USD million and CAGR from 2022 to 2032 |
| Report coverage | Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis |
| Segments covered | by Product Type, by Application, by End Use, by Material Type, and by Region |
| Regional scope | North America; Western Europe; Eastern Europe; Middle East; Africa; ASEAN; South Asia; Rest of Asia; Australia and New Zealand |
| Country scope | USA, Canada, Mexico, Germany, UK, France, Italy, Spain, Russia, Belgium, Poland, Czech Republic, China, India, Japan, Australia, Brazil, Argentina, Colombia, Saudi Arabia, UAE, Iran, South Africa |
| Key companies profiled | Adams Manufacturing Corporation; All-Vac Industries; Inc.; ANVER Corporation; Coval Inc.; J. Schmalz GmbH; Piab AB; VacMotion Inc.; Vi-Cas Manufacturing Company; and William B. Rudow; Inc. |
| Customization scope | Free report customization (equivalent to up to 8 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. |
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The packaging suction cups market is anticipated to register a CAGR of 6.8% during the forecast period.
The packaging suction cups market share is anticipated to reach USD 14.22 Billion by 2030.
Demand for packaging suction cups is expected to expand as it adopts automation to boost productivity.
| Estimated Market Size (2024E) | USD 228.1 billion |
|---|---|
| Projected Market Value (2034F) | USD 440.7 billion |
| Value-based CAGR (2024 to 2034) | 6.8% |
| Market Size (2023) | USD 11.37 billion |
|---|---|
| Market Size (2033) | USD 17.50 billion |
| Market CAGR (2023 to 2033) | 4.4% |
| Market Value (2023) | USD 4.4 Billion |
|---|---|
| Market Value (2033) | USD 7.4 Billion |
| Market CAGR (2023 to 2033) | 5.3% |
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Packaging Suction Cups Market
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