Bagging equipment sales in 2018 closed in on US$ 28 billion, as indicated by a recent intelligence outlook presented by Future Market Insights (FMI). The global market revenue for bagging equipment will observe a moderate just-over 4% CAGR during 2018-2028, projects the report.
Food Industry Registers Substantial Demand for Diverse Bagging Solutions
Food & beverage industry, one of the most prominent areas driving economies in several regions, will remain the predominant contributor to the bagging equipment market growth. Growth in the consumption of processed and packaged foods over the recent past has been cited among the key drivers of bagging equipment market.
The soaring demand for on-the-go food products from developed as well as emerging economies is expected to witness substantial growth, which in turn is expected to translate into high demand for efficient packaging solutions such as bagging equipment.
Bagging Equipment Market: FMI’s Key Findings
Standalone bagging equipment is projected to create a high incremental opportunity during the forecast period. This can be attributed to the significant price difference between standalone bagging equipment and integrated bagging line.
Standalone bagging equipment, being more economical, will witness growing preference from small-scale manufacturers, particularly in emerging economies.
For More Detailed Insights on Bagging Equipment Installed Base Assessment
Automatic bagging equipment extends a prominent share to the global bagging equipment market, as automation is increasingly being adopted in the packaging industry.
Capacity-wise analysis of bagging equipment market reveals that those within the range of 1001–2000 bags/hour will be a prominent segment through 2028.
Vertical baggers are the more preferred variant in the bagging equipment industry, which can be attributed to the fact that multiple bagging styles can be processed by these bagging equipment.
Asia-Pacific to Offer Substantial Growth Opportunities to Bagging Equipment Market
The Asia Pacific bagging equipment market is expected to be driven by the strong export orientation and manufacturing capabilities of China and India. Increasing consumption at a consumer level is anticipated to escalate the demand for food service disposables in the region, which is expected to ultimately drive high demand for bagging equipment in export-led economies.
Moreover, growth of the manufacturing sector is expected to further propel the demand for bagging equipment in the region. One of the key reasons for growth in manufacturing activities is government support towards localizing manufacturing through various incentives and regulations.
Bagging Equipment Market: Competition Landscape
Major participants in the global bagging equipment market include Robert Bosch GMBH, All-Fill Incorporated, Tokyo Automatic Machinery Works Ltd, I.M.A. Industria Macchine Automatiche SpA, PAYPER, S.A., Bossar Packaging S.A., CONCETTI S.P.A., Omori Machinery Co. Ltd, Fres-co System USA, Inc., WOLF Verpackungsmaschinen GmbH, Fuji Machinery Co. Ltd, Webster Griffin Ltd., BW Companies Inc., Buhler Holding AG, Imanpack Packaging and Eco Solutions S.p.A, STATEC BINDER GmbH, HASSIA-REDATRON GmbH, Premier Tech Chronos, MONDIAL PACK S.r.l and Pakona Engineers Pvt Ltd. A number of small-scale unorganized players are operating in the Asia Pacific region, and this number is expected to increase during the next decade.
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Future Market Insights (FMI) is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India. FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace, with confidence and clarity. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure that our clients prepare for the evolving needs of their consumers.