Global Bagging Equipment Market: Overview
Use to fill in heavy material (more than 5 kgs) and weighing the, the bagging equipment is a critical component of most businesses. Being a part of a variety of businesses, the market sees steady growth. Over the forecast period, the demand will increase at a high CAGR (Compound Annual Growth Rate). This will translate to a decent market worth by the end of 2027. The global bagging equipment market will see steady growth also because small manufacturers prefer these, particularly in emerging economies.
Global Bagging Equipment Market: Notable Development
The global bagging equipment market is witnessing developments that are shaping the competitive landscape, and thereby market landscape. Few notable ones are outlined below.
- 2017: At Intelpack 2017, Wraptech, a renowned bagging equipment manufacturer and exporter, displayed WMTF 80, a new tube-filling machine and a novel variant of MB250EV bagging equipment. This stirred up competition and the need to up the efforts for product innovation.
- 2017: WeighPack Systems Inc. came up with Bingo Bagger, which is equipment for already made wicketed bags. These are up to 20 inches long. Besides, they are capable of operating at speeds of up to 1,500 bags per hour. Thereby, it created a more competitive landscape.
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The market for bagging equipment is currently slightly fragmented. Prominent names in the global bagging equipment are 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., and CONCETTI S.P.A. A considerable number operates from Asia Pacific. And, this number is set to increase over the coming period.
Global Bagging Equipment Market: Key Trends and Drivers
Few trends and drivers in the global bagging equipment market are pushing growth to higher trajectories. To understand what these are and the impact they’d have on the overall market, a handful principal factors are spelled out below.
- The food and beverage is set to see a growth of about USD $20 trillion by 2030, which is about 5% increase over the period. This growth will drive the bagging equipment market in a major way. This would further be boosted by a rise in demand for processed and packaged food. The demand is particularly high from an ever growing section of population that is leading a hectic lifestyle, ever on the lookout for ready to eat, easy to cook versions of food. Besides, this is not just a reality for developed economies, as was seen in the past decade. Even the emerging economies are observing a surge as an entire generation is moving to this kind of a lifestyle due to longer work days, which is massively supported by a rise in disposable incomes.
- Fall in operation costs, coupled with better productivity that looks sustainable will drive the global bagging equipment market forward. And, as new variants (in terms of sizes and utility) are coming up to meet varied needs of businesses across industry verticals. This is further fueling demands for customized bagging, thereby boosting growth in global bagging equipment market.
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Global Bagging Equipment Market: Regional Analysis
The market would be strongly driven by the Asia Pacific (APAC) region. It is all set to show impressive growth owing to strong export outlook and superior manufacturing capabilities. This is particularly the case in India and China. And, increasing consumption levels in the food and beverage industry would drive the market further. In addition, the manufacturing sector will see growth and in turn, propel the market. Other region to set eyes on is North America and Europe.
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