Between 2022 and 2028, the market for bagging equipment is predicted to grow at a respectable CAGR of 4.3%, reaching US$ 3.6 billion. The estimated value of the global market for bagging equipment in 2018 was around US$ 28 billion. From 2022 to 2028, the market is expected to grow at a CAGR of 4.3%.
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The Bagging Equipment Market research contains in-depth analysis and evaluation of numerous market-related elements that are crucial for more informed decision-making. The Bagging Equipment Market research was especially created with the needs of the consumer in mind so that businesses could benefit from it and increase their return on investment (ROI). The Bagging Equipment Market Business Report presents in-depth research on the current state of the sector, the market’s potential in the present, and the possibilities for the future from numerous angles.
According to a recent intelligence forecast published by Future Market Insights, sales of bagging equipment reached close to US$ 28 billion in 2018. (FMI). A low CAGR of just over 4% will be seen in the revenue for bagging equipment on the global market.
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.
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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.
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.
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Key Segments Covered in Bagging Equipment Industry Research
Bagging Equipment Market by Product Type:
- Integrated Bagging Lines
- Conveying Machines
- Incline Transfer
- Horizontal Transfer
- Bagging Machines
- Bag Opening/Sealing Machines
- Bag Kickers
- Bag Attachment Machines
- Weighing/Counting Machines
- Conveying Machines
- Standalone Equipment
- Open Mouth Baggers
- FFS Machines
- Horizontal FFS
- Vertical FFS
- Valve Baggers
- FIBC Bagging Machines
- Others
Bagging Equipment Market by Automation Type:
- Automatic
- Semi-automatic
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