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