According to a new market research report published by Credence Research “Global Sack Fillers Market (Technology Type (Semi-Automatic, Automatic) End-User (Food, Agriculture, Chemical, Fertilizer, Building and Construction, Others); Filling capacities (Below 500 bags/hr, 500-1000 bags/hr, 1000-1500 bags/hr, More than 1500 bags/hr); Machine Type(Horizontal Sack Fillers, Vertical Sack Fillers)) – Growth, Future Prospects, and Competitive Analysis,2019 – 2027”, the overall sack fillers market worldwide was valued at US$ 3.50 Bn in 2018 and is set to grow with a CAGR of 6.2 % during the forecast period.
The global sack fillers market is highly driven by its ability to reduce the labor work, saves time and increases the functionality of the manufacturing units of various industries. The sack fillers are majorly used for filling the sack with low man work with precision and accuracy. The construction and building industries are using these fillers to fill cement, soil, sand, and other construction materials in the sack according to the capacity of the sack. However, the initial cost for the sack filler is high that tends to hamper the growth of the market.
Based on technology, the sack fillers market has been segmented semi-automatic and automatic. Currently, the semi-automatic segment holds the largest market share of around 40% due to the early adoption of the technology. Moreover, the cost of semi-automatic is less as compared to automatic technology. However, the automatic technology segment is accounted to grow at a higher rate during the forecast period due to the rapid adoption of automation by these industries is boosting the market growth.
Asia-Pacific is expected to be the fastest-growing market due to the presence of various large chemical, manufacturing, agriculture, construction, cement, food, and other industries in the region which are using sack fillers. Additionally, the developing infrastructure and increasing demand for various products in the region are also driving the market. Additionally, the increasing population in countries such as India, and China is also contributing to the market in the region. Moreover, the increasing demand for sack fillers in agriculture, construction, food, dairy, and other industries in India and China plays a vital role in the development of the market.
Some of the prominent players operating in the sack fillers market include Webster Griffin Ltd, Haver and Becker Company, All-Fill Incorporated, CONCETTI S.P.A, PAYPER, S.A, Fres-co System USA, Inc., MONDIAL PACK S.r.l, Barry-Wehmiller Companies, WOLF Verpackungsmaschinen GmbH, HASSIA-REDATRON GmbH, STATEC BINDER GmbH, Premier Tech Chronos, Robert Bosch Packaging Technology GmbH, Imanpack Packaging, and Inpak Systems, Inc.
Our Blog: Home – Target Market Size