Sep 17, 2019   SOURCE: BusinessWire

Bagging Machines: Worldwide Market Forecasts, 2019 to 2024 - ResearchAndMarkets.com

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.

Drivers

  • Growing food & beverage industry
  • Technological advancements

Restraints

  • High setup cost

Segmentation

By Machine Type

  • Horizontal Bagging Machines
  • Vertical Bagging Machines

By End-User

  • Food & Beverage
  • Pharmaceuticals
  • Cosmetics
  • Others

Companies Profiled

  • 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