New York, US, Nov. 04, 2022 (GLOBE NEWSWIRE) — According to a comprehensive research report by Market Research Future (MRFR),”Bagging Machine Market Research Report: Information by Bag Size, Product Type, Machine Type, Automation Type, End-Use Industry, and Region —Forecast till 2028”, the global bagging machine market is predicted to thrive substantially during the assessment timeframe from 2022 to 2028 at a healthy CAGR of approximately 8.14% to attain a valuation of around USD 21,835.10 million by the end of 2028.
Bagging Machine Market Overview:
Bagging machines refer to automated solutions developed to utilize either pre-opened bags or plastic tubing on a roll to speed up the sealing and filling process used for various products. Bagging machines provide time efficiency, ease, and convenience. The global market for bagging machines has shown immense growth in the last few years. The growing foods and beverages industry encouraging consumers to spend on such products is a significant aspect supporting the market’s growth. Furthermore, the growing contribution of millennials and Gen-Z in consumer profiles is predicted to influence the market’s growth over the assessment timeframe.
Bagging Machine Market Competitive Analysis
The catalog for critical participants across the global bagging machine market includes players such as:
- Tokyo Automatic Machinery Works, Ltd. (Japan)
- Bossar Packaging S.A. (Spain)
- Honeywell International Inc. (U.S.)
- Pakona Engineers Pvt., Ltd. (India)
- Syntegon Technology (Germany)
- Concetti S.P.A. (Italy)
- All-Fill Incorporated (U.S.)
- Omori Machinery Co., Ltd. (Japan)
- Payper S.A. (Spain)
- Fres-co System USA Inc. (U.S.)
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Moreover, the development of the market is also being boosted by the rising number of innovations and technological improvements. Developments like robots, automation, and other technologies are enhancing product penetration across several industry areas. Semi-automated and automated packaging machines are assisting the end-user industries in leveling up efficiently while controlling the costs of operations.
Bagging Machine Market USP Covered
Bagging Machine Market Drivers
The global market for bagging machines has shown massive development in the last few years owing to the aspects such as the variety of applications in various sectors and growing automation in the industry.
Bagging Machine Market Report Scope:
|Market Size||2028: USD 21,835.10 million|
|CAGR during 2022-2028||8.14%|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Key Market Opportunities||Variety of applications in various sectors and growing automation in the industry
Stringent government norms regarding sustainability to reduce carbon footprints
|Key Market Drivers||Increasingly inclining towards introducing automation in the products.|
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Bagging Machine Market Restraints
On the other hand, the high cost of bagging machines and the rising steel prices may restrict the market’s growth.
The global market for bagging machines has witnessed a substantially positive impact given the global health crisis, as people have become very aware of the importance of good packaging. Furthermore, with all the global financial and industrial activities returning to normal, the global market for bagging machines is anticipated to overgrow over the coming years.
Bagging Machine Market Segment Analysis
Among all the product types, the form fills machines segment held the top position across the global market for bagging machines while contributing almost 23.25% share in the year 2020. On the other hand, the open-mouth bagging machines segment is predicted to thrive at the highest CAGR of approximately 8.62% during the assessment timeframe.
Among all the automation types, the automatic bagging machines segment secured the top spot across the global market for bagging machines in 2002 while contributing almost 63.20% share and is anticipated to thrive substantially during the assessment timeframe at a healthy growth rate of around 8.31%.
Among all the machinery types, the vertical bagging machine segment helps the top position across the global market for bagging machines, with a maximum contribution of approximately 55.42% in 2020, and is predicted to flourish significantly over the review era at a healthy growth rate of approximately 8.24%.
Among all the end-use sectors, the chemical segment led the global market for bagging machines in 2020 with the most significant contribution of approximately 29.33% and is predicted to flourish substantially during the review timeframe at a robust CAGR of around 8.67%.
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Among all the bag sizes, the 5.1kg- kg-25 kg segment led the global market with a maximum contribution of approximately 30.31% in 2020. On the other hand, the 0.1kg-to 5kg segment is likely to record the maximum CAGR over the review timeframe.
Bagging Machine Market Regional Analysis
The global market for bagging machines is analyzed across five major regions: the Middle East and Africa, Asia-Pacific, South America, Europe, and North America.
According to the research reports by MRFR, the Asia-Pacific region is anticipated to hold the top spot across the global market for bagging machines over the assessment timeframe. The regional market contributed to the maximum share of approximately 36.05% in 2020. The report further anticipates the regional market to thrive substantially during the assessment timeframe at a healthy CAGR of around 8.58%. The arrival of the global health crisis in the form of COVID-19 has caused the implementation of travel restrictions and lockdown regulations, which have dragged consumers’ attention to online platforms shopping for clothing, food, medicine, electronics, essential products, and primary kitchen products. As per the National Investment Promotion and Facilitation Agency, the -commerce market across India is likely to attain a worth of approximately USD 55 billion by the end of 2022. In addition, the government across the country has enabled foreign direct investment (FDI) 100% in the framework of B2B e-commerce and the market’s business model. Furthermore, the rising support from government bodies and the shift of customers to online shopping platforms is also predicted to boost the regional bagging machine market’s growth over the coming years to keep up the relationship between supply and demand.
The bagging machine market for the European region was at the second spot across the globe in the year 2020 and is anticipated to increase over the assessment timeframe at a healthy growth rate of approximately 8.02%. The region has witnessed a significant rise in demand for packaging demand across several bagging machine applications, which is believed to be the primary aspect supporting the growth of the regional market. Furthermore, the rising disposable income across the region is another crucial parameter boosting the regional market’s growth.
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Moreover, the factors such as the development of the pharmaceutical industry, the fast growth of consumers, and the growing e-commerce sector are also projected to influence the growth of the regional market over the assessment timeframe. The region has Italy and Germany as the leading growth contributors. These nations also offer their consumers individual and advanced machinery, production, design, installation, maintenance, and service of machinery. Additionally, the European Committee for Standardization has imposed some standards and rules for bagging machinery safety requirements and several kinds of products which are likely to boost the regional market’s growth over the review era.
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