COVID19 Impact on Packaging Machinery Market Valuation Prognosticated to Touch USD 70.54 Billion Mark by 2027

According to a new report published by Allied Market Research, titled, "Packaging Machinery Market by Type, and End-User: Global Opportunity Analysis and Industry Forecast, 2020-2027,"

The global packaging machinery market size was valued at $47.9 billion in 2019, and is projected to reach $70.5 billion by 2027, registering a CAGR of 5.1% from 2020 to 2027.

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Based on region, Asia-Pacific contributed to the highest market share in terms of revenue, accounting for more than one-third of the total market share in 2018, and is estimated to maintain its lead position during the forecast period. However, LAMEA is expected to witness the highest growth rate with a CAGR of 6.2% from 2020 to 2027.

Based on end user, the food and beverages segment contributed to the largest share of the total market, holding nearly two-thirds of the total market in 2018, and is estimated to maintain its dominance by 2026. However, the cosmetics segment is expected to portray the fastest CAGR of 6.5% during the forecast period. The research also discusses segments including pharmaceutical, chemicals, and others.

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Leading market players analyzed in the report are Aetna Group S.p.A., Barry-Wehmiller Companies, Inc., B&H Manufacturing Company, Inc., Coesia S.p.A., CKD Corporation, Fuji Machinery Co., Ltd., Duravant LLC, Robert Bosch GmbH, Langley Holdings plc, and The Adelphi Group of Companies.

They have implemented various strategies including new product launches, mergers & acquisition, collaborations, parternships, and others to gain a strong position in the industry.

Get Full Insight:https://www.alliedmarketresearch.com/packaging-machinery-market

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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