Bag heat-sealing equipment: Key market research findings
- Europe dominates the market geographically
- Food sector accounts for a majority of the market’s revenue
- Key vendors – Barry‐Wehmiller, Bosch, GEA, Pro Mach, and Sonoco
Technavio’s market research analysts predict the global market for bag heat-sealing equipment to grow at a CAGR of more 5% between 2016 and 2020. The growth of this market can be accredited primarily to the growing demand for processed and packaged food products. Sealed bags and pouches are extensively used for frozen foods, meat, processed meat, bakery, poultry and fish, and heat-and-eat meals. These meals are consumed by working professionals, dual-earning families, single-person households or students, and the elderly population. Europe dominated the global bag heat-sealing equipment market by accounting for a market share of more than 36%. The higher standard of living and high disposable income in the region will propel growth in the bag heat-sealing market in Europe during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the bag heat-sealing equipment market based on the end-user.
“The global bag heat sealing equipment market is currently witnessing advances in technology and product innovation. The market is experiencing an increase in consumer demand for innovative products, which exhibit a higher degree of flexibility in terms of upgrading the operational capabilities. Many vendors have been increasingly investing in R&D to enhance their existing product line and develop seafood processing equipment with advanced technical specifications,” says Sharan Raj, Lead Analyst, Transportation & Logistics, Technavio Research.
By 2020, the food sector will continue its dominance over the global market by accounting for about 60% of the overall market revenue. Bag and pouch packaging holds a significant share of the global food packaging market. These factors drive the growth of the global food bag heat sealing equipment market. This segment is expected to grow at a CAGR of more than 3% by 2020.
The key vendors in the global bag heat-sealing equipment market include Barry‐Wehmiller, Bosch, GEA, Pro Mach, and Sonoco. Vendors compete in the market based on a variety of factors like performance, innovation, product features, quality, low cost, selling price, distribution, and financial stability. Companies with greater technical and financial resources can develop products that can make the competitors’ products obsolete and non-competitive even before they are launched or the R&D and commercialization costs have been recovered.
A more detailed analysis is available in the Technavio report, Global Bag Heat-Sealing Equipment Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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