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Packaging Machinery Market Forecast to Reach $40 Billion by 2025
Increased Usage of Automation in the Packaging Industry and Rise in Global Market for of the Consumer Goods Are Major Factors Impacting Growth of the Packaging Machinery Market.
BriefingWire.com, 1/13/2021 -
The Packaging Machinery Market is forecast to reach $40 billion by 2025, growing at a CAGR of 5% during 2019-2025. The packaging machinery market is likely to witness a strong growth from e-commerce sector as the industry experienced a Y-o-Y growth of 11.32% from 2017. Similarly, the changing customer preferences from using plastic based packaging to environmental friendly packaging is anticipated to drive the market for new packaging machinery during 2019-2025. Many end users are replacing their older machine with the new packaging machine which can process biodegradable materials. Similarly, the surging demand for packaged and processed food is like ....

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