Three demands from consumer packaged goods (CPG) companies — single source solutions, increased machine versatility and a move to flexible packaging — are pushing the packaging industry towards unprecedented heights, according to the 2017 State of the Industry – US Packaging Machinery report and accompanying infographic.
Produced by PMMI, The Association for Packaging and Processing Technologies, the infographic serves as a visual snapshot of the report and shows a 4.8 percent increase in the U.S. packaging machinery market from 2015 to 2016, with a total market value of $9.8 billion.
“The forecast for the packaging machinery market continues to be robust. We anticipate growth in major market segments such as pharmaceuticals, as well as food and beverage. Factors such as population growth, growing demand for automation and machinery optimization, as well as a rise in e-commerce are fueling these developments,” says Jorge Izquierdo, vice president, Market Development, PMMI.
Solutions for the aforementioned challenges and more will be on display at PACK EXPO East (April 16-18, Pennsylvania Convention Center, Philadelphia).
“Attending PACK EXPO East is the most efficient way to engage over 400 suppliers of packaging technologies in the industry’s manufacturing-rich East Coast,” says Jim Pittas, President and CEO, PMMI. “The region represents one of the fastest growing areas in the industry and the regional event allows attendees and exhibitors to spend quality time understanding each other’s operations.”
PACK EXPO East show organizer, PMMI, produces the State of the Industry study and infographic based on U.S. Census Bureau reports and shipments data provided by association members who manufacture packaging machinery. The report, which analyzes 28 packaging machinery categories, describes trends and the outlook for packaging machinery shipments through 2022. The value of U.S. domestic shipments of packaging machinery is estimated to have been worth $7.73 billion in 2016 and is forecast to grow at a compound annual growth rate (CAGR) of 2.2 percent, reaching $8.8 billion in 2022.
The 2017 State of the Industry report and accompanying infographic is now available for download. For more information, contact Paula Feldman, director, Business Intelligence, PMMI at [email protected].
Don’t miss the next installment of the PACK EXPO Portfolio of Tradeshows – PACK EXPO East 2018 where you can experience packaging machinery solutions from 400 exhibiting providers. Attendees of PACK EXPO East will enjoy educational and networking opportunities to help you stay on top of emerging technologies, industry trends and best practices across all market segments. For more information or to register go to packexpoeast.com.
PMMI, The Association for Packaging and Processing Technologies, represents more than 800 North American manufacturers and suppliers of equipment, components and materials as well as providers of related equipment and services to the packaging and processing industry. We work to advance a variety of industries by connecting consumer goods companies with manufacturing solutions through the world-class PACK EXPO portfolio of trade shows, leading trade media and a wide range of resources to empower our members. The PACK EXPO trade shows unite the world of packaging and processing to advance the industries they serve: PACK EXPO International, PACK EXPO Las Vegas, Healthcare Packaging EXPO, PACK EXPO East, EXPO PACK México, EXPO PACK Guadalajara and ProFood Tech. PMMI Media Group connects manufacturers to the latest solutions, trends and innovations in packaging and processing year-round through brands including Packaging World, Automation World, Healthcare Packaging, Contract Packaging, ProFood World and OEM Magazine. PMMI Business Drivers assist members in pursuing operational excellence through workforce development initiatives, deliver actionable business intelligence on economic, market and industry trends to support members' growth strategies, and actively connect the supply chain throughout the year.