Transparency Market Research observes that the competitive landscape in theglobal bagging machines market is fragmented. All the leading players hold small market shares. The report identifies Robert Bosh GMBH, Tokyo Automatic Machinery Works Ltd., and Fuji Machinery Co. Ltd as some of the leading players operating in the global market. In the coming years, these companies are expected to focus on product development and expansion to improve their revenues. Widening their product portfolios is anticipated to be one the key strategic moves of the companies operating in the overall market. Introducing unique technological advancements at affordable prices is also expected to be an important strategy of the companies.
According to the research report, the global bagging machines market is anticipated to worth US$12.4 bn by 2017 and is expected to be reach a valuation of US$18.4 bn by the end of 2025. During the forecast period of 2017 and 2025, the global market is projected to expand at a CAGR of 5.0%. The automatic bagging machines are expected to dominate the global market as this segment is slated to acquire a share of 78.8% by the end of 2025. Regionally, Asia Pacific is poised to lead the pack in the foreseeable future as the food and beverage is booming at a phenomenal pace.
India and China to Fuel Growth as Demand for Packaged Food Soars
The global bagging machines market is expected to witness a prolific growth in the coming years are the food and beverage industry demands a great deal of packaging and bagging. The growing demand for a wide range of packaged food and beverages has been identified as the key growth driver for the global market. The bagging machines market is also projected to gain momentum as the demand for international brands of food and beverages grows. The emerging markets of India and China are expected to fuel the demand for bagging markets are supportive government policies are bringing in huge investments in the food and beverage industry. Thus, the rise in productivity, manufacturing, and incorporation of technology are anticipated to boost the market.
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The growing demand for construction materials in various countries that are undergoing massive infrastructural development are projected to create several opportunities for bagging machines market. Bagging machines are extensively used for filling and sealing the bags used for carrying stones, cement, gravel, and sand among others, which is expected to impacted the construction industry positively. Furthermore, growing awareness about carefully packaged healthcare devices has also triggered demand for bagging machines. Growing usage of fertilizers, insecticides, and fungicides in agricultural activities has also spiked the demand for bagging machines as these materials require careful packaging.
High Cost of Equipment Likely to Restrain Market
On the other hand, the market is faced with some Herculean challenges. Currently, the biggest restraint for the global bagging machines market is the high cost of equipment, which makes it unaffordable to several other industry. Owing to this reason, several small scale industry are unable to invest in technological relevant bagging machines. The availability of cheaper packaging machines or ordinary packaging solutions to also projected to hamper the sales of the global bagging machines market.
