The demand in the global wicketed bagging machines market is estimated to exhibit growth at a CAGR of nearly 4% to 5% during the assessment period 2022 to 2032. On account of growing advancements in technologies and the increasing introduction of novel bio-plastics, the sales of wicketed bagging machines are expected to rise at a robust pace in the forthcoming years.
| Report Attribute | Details |
|---|---|
| Wicketed Bagging Machines Market Projected Growth Rate (2022 to 2032) | 4% to 5% CAGR |
Wicketed bags are a type of packaging solution made of plastic resins that are held together on a thin wicket (or metal bar), making product dispensing easier and faster. Wicketed bagging machines are industrial equipment designed to automatically or semi-automatically open, fill and seal pre-made wicketed bags.
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Wicketed bagging machines are garnering huge popularity across various industries, on account of their robust packaging features and ability to work with bags of different sizes at different operating speeds.
Attributed to this, these industrial equipment are finding a plethora of applications across sectors such as bakery, confectionery, animal feed, agrochemicals, personal care & cosmetics, pharmaceuticals, processed food, and others. Hence, the rising expansion of these sectors and accelerating usage in packaging wheat, rice, corn, pulses, seeds, and other grains are projected to augment the demand for wicketed bagging machines in the global market.
Also, there is a rapid surge in the trend of industrialization and the adoption of process automation technologies across the globe. Hence, numerous leading food & beverage & packaging industry players are focusing on adopting automated equipment such as wicketed bagging machines for increasing productivity, declining packaging time, and faster dispensing of products. This is anticipated to create remunerative opportunities for growth in the wicketed bagging machines market.
Implementation of stringent regulations by a number of governmental and environmental protection agencies concerning the use of plastic packaging solutions is restraining the growth in the global wicketed bagging machines market.
Also, the high initiation cost and cost of maintenance of this industrial equipment are primary factors impeding the sales of wicketed bagging machines in the global market.
As per FMI, South Asia is forecast to exhibit growth at a rapid CAGR in the global wicketed bagging machines market between 2022 and 2032.
Governments in several countries in focusing on undertaking numerous initiatives for the adoption of process automation technologies for increasing overall productivity. For instance, the Ministry of Heavy Industries & Public Enterprises in India announced the introduction of Samarth Udyog Bharat 4.0 initiatives for the augmenting implementation of process automation. The increasing launch of such initiatives is estimated to bolster the sales of wicketed bagging machines in the market.
Also, rising demand for wicketed bag packaging, owing to the rapidly expanding e-commerce sector is estimated to further bolster the growth in the South Asia market.
Europe is anticipated to emerge as a highly opportunistic market for wicketed bagging machines from 2022 to 2032, states Future Market Insights.
Prominent players in the market are emphasizing on introducing novel products with innovative features to capitalize on the growing demand for packaging equipment.
For instance, NEWTEC, a Belgium-based manufacturer of high-quality weighing, packaging, and sorting machinery recently announced the launching of its new machine for packaging pre-made wicketed bags for citrus and similar fruits with a capacity to work on up to 50 bags per min. A multiplicity of such new product launches is expected to bolster the growth in the Europe market.
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Some of the leading players in the global wicketed bagging machines market are Euro Machinery ApS, WeighPack Systems Inc., Paxiom Group, Robert Bosch GmbH, M.A. Industria Macchine Automatiche SpA, NEWTEC, and others.
Leading wicketed bagging machine manufacturers in the market are focusing on launching equipment with innovative features and mergers & acquisitions to increase their share in the highly competitive market.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4% to 5% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Billion, Volume in Kilotons, and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Automation Type, Machine Type, Machine Speed, End Use, Region |
| Countries Covered | North America, Latin America, Europe, East Asia, South Asia, Oceania, Middle East and Africa |
| Key Companies Profiled | Euro Machinery ApS; WeighPack Systems Inc.; Paxiom Group; Robert Bosch GmbH; M.A. Industria Macchine Automatiche SpA; NEWTEC; Others |
| Customization | Available Upon Request |
FMI projects the sales of wicketed bagging machines in the market are expected to rise at 4% to 5% value CAGR by 2032.
The global wicketed bagging machines market is anticipated to be dominated by South Asia over the forecast period 2022 to 2032.
Euro Machinery ApS, WeighPack Systems Inc., Paxiom Group, Robert Bosch GmbH, M.A. Industria Macchine Automatiche SpA, NEWTEC, and others are some of the leading players in the global wicketed bagging machines market.
| Market Valuation (2023) | USD 2.9 billion |
|---|---|
| Market Valuation (2033) | USD 4.5 billion |
| Market CAGR (2023 to 2033) | 4.4% |
| Estimated Size, 2021 | USD 1.2 billion |
|---|---|
| Projected Size, 2031 | USD 1.72 billion |
| Value-based CAGR (2021 to 2031) | 3.9% |
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