Market Scope
Market Research Future (MRFR), on the global market of triangle tea bag packaging machinery market states that it is set to attain a valuation of USD 194.58 million and thrive at a CAGR of 4.43% by the end of forecast period (2017-2023).
Market Insights
When it’s about brewing, triangle tea bag has no comparison. The shape provides maximum space to tea to circulate with ease, which assist in better brewing. The flavor gets released completely, allowing tea lovers to experience the exotic taste. This strengthens the customer base. Hence, the high adoption of triangle or pyramid tea bag by people is surging the need for their production. This, in turn is likely to win high profit for the global triangle tea bag packaging machinery.
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Segmental Outline
The global triangle tea bag packaging machinery market is segmented by type, capacity, and application.
By capacity, the triangle tea bag packaging machinery market is segmented into less than 1,800 bags/hour, 3,000 to 4,800 bags/hour, 1,800 to 3,000 bags/hour, and more than 4,800 bags/hour. The less than 1,800 bags/hour segment is likely to direct the market growth. The surge in demand of the machine by across different industries for packaging is likely to surge the market. In 2017, the less than 1,800 bags/hour segment valued at USD 64.95 million. By 2023, the market is poised to touch a valuation of USD 80.46 million. The 1,800 to 3,000 bags/hour segment is likely to thrive at a 4.78 % CAGR through the forecast period.
By type, the triangle tea bag packaging machinery market is segmented into vertical and horizontal. In 2017, the vertical segment valued at USD 82.16 million. By 2023, the segment is expected to increase to USD 106.50 million and expand at a CAGR of 4.75% through the review period.
By application, the triangle tea bag packaging machinery market is segmented into black tea, green tea, and others. In 2017, the green tea segment valued at USD 56.74 million. By 2023, the segment is expected to rise to USD 73.88 million and exhibit a CAGR of 4.82% in the forecast period.
Regional Outlook
The triangle tea bag packaging machinery market is anticipated to experience a considerable growth across the assessment period. In Europe, the market is likely gain high prominence the coming years. The rise in demand for easily transportable and lightweight packaging is expected to spur the Europe market growth. Alongside, the change in the preferences of consumers of specialty tea over the traditional tea is noted to surge the demand for organic tea in the Asia Pacific and North America regions. These are some of the major factors that are likely to prompt the triangle tea bag packaging machinery market in the region, across the forecast period.
In 2017, Asia Pacific, after Europe, secured the largest share of the global market. The regional market is liked to maintain its position, through the review period. This can be attributed to the presence of top-notch consumers of tea in parts of APAC, such as, India, and China. Moreover, these regions are high tea producers and exporters. Thus, the increase in demand for triangle tea bag packaging machinery is higher, which can boost the regional market.
Key Players
MRFR listed prominent markerters are CAMA (LuoYang) Electromechanic Co., Ltd. (China), dph International GmbH (Germany), E.C. Packtech Machines Pvt. Ltd (India), Sidsam Group (India), Grace Food Processing & Packaging Machinery (India), SELO (The Netherlands), Fuso International (Japan), Tecpacking Group (Tianjin) Co., Ltd (China), Xiamen Sengong Packing Equipment, and Vista Technopack Machines (India).
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