U.S. Packaging machinery market nears $10 billion
By Canadian Packaging staff
General 2017 State of the Industry–U.S. Packaging Machinery report PACK EXPO East 2018 PMMI The Association for Packaging and Processing Technologies U.S. Census BureauPMMI’s Infographic highlights key findings from 2017 state of the industry report.
RESTON, Va.—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–U.S. 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 PMMI vice-president of market development Jorge Izquierdo.
Solutions for the aforementioned challenges and more will be on display at PACK EXPO East 2018 trade show, April 16-18 at the Pennsylvania Convention Center in 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 PMMI president and chief executive officer Jim Pittas. “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 (see image at top) is now available for download – click HERE.
For more information, contact Paula Feldman, director, Business Intelligence, PMMI via e-mail at pfeldman@pmmi.org.
Don’t miss 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 www.packexpoeast.com.
About PMMI
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. It operates the world-class PACK EXPO portfolio of trade shows: PACK EXPO International, PACK EXPO Las Vegas, Healthcare Packaging EXPO, PACK EXPO East, EXPO PACK México, EXPO PACK Guadalajara and ProFood Tech. Learn more at www.PMMI.org and www.Packexpo.com and www.PMMIMediaGroup.com.
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