Global bagging machines market is expected to grow at a compound annual growth rate of 3.53% to reach a market size of US$3.792 billion by 2024 from US$3.079 billion in 2018. Bagging Machines are equipment used for packaging of products in a bag. The growing food & beverage industry coupled with rising preference for packaged foods is expected to be a key factor driving the bagging machines market. Further the growing pharmaceutical industry is also anticipated to be a major contributor to the rising demand for bagging machines. Additionally, various technological advancements are projected to widen up the growth opportunity. Major industry driving the bagging machines market are Food and Beverage, pharmaceuticals, cosmetics and household among others. However, high cost associated with the equipment is expected to hamper the market growth. North America along with Asia-Pacific is expected to be a prominent region owing to the increasing food and beverage industry and growing preference towards packed food. Europe is also projected to be a prominent region during the forecast period.
Growing food & beverage industry.
High setup cost
The major players profiled in the bagging machines market include Premier Tech Ltd., HASSIA-REDATRON GmbH, MONDIAL PACK S.r.l, Webster Griffin Ltd, STATEC BINDER GmbH, Imanpack Packaging and Eco Solutions S.p.A., WOLF Verpackungsmaschinen GmbH, Concetti S.p.A, PAYPER, S.A., Tokyo Automatic Machinery Works, Ltd., BW Flexible Systems (Barry-Wehmiller Companies), Nichrome Packaging Solutions, and Rennco, LLC.
The bagging machines market has been analyzed through the following segments:
By Machine Type
Horizontal Bagging Machines
Vertical Bagging Machines
Food and Beverage
Middle East and Africa
Frequently Asked Questions (FAQs)
Q1. What will be the bagging machines market size by 2024?
A1. The global bagging machines market is expected to reach a total market size of US$3.792 billion by 2024.
Q2. What is the size of the global bagging machines market?
A2. Bagging Machines market was valued at US$3.079 billion in 2018.
Q3. What are the growth prospects for bagging machines market?
A3. The bagging machines market is expected to grow at a CAGR of 3.53% during the forecast period.
Q4. What factors are anticipated to drive the bagging machines market growth?
A4. The growing food & beverage industry coupled with the rising preference for packaged foods is expected to be a key factor driving the bagging machines market.
Q5. Which region holds the largest market share in the bagging machines market?
A5. North America and Asia Pacific regions are expected to hold a noteworthy share in the bagging machines market owing to the increasing food and beverage industry and growing preference towards packed food.