DUBLIN--(BUSINESS WIRE)--The "Bagging Machines Market - Forecasts from 2019 to 2024" report has been added to ResearchAndMarkets.com's offering.
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.
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 industries driving the bagging machines market are food & 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
- Technological advancements
- High setup cost
By Machine Type
- Horizontal Bagging Machines
- Vertical Bagging Machines
- Food & Beverage
- 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.
- Rennco, LLC
For more information about this report visit https://www.researchandmarkets.com/r/no28tj