The demand for U.S. packaging equipment remains on the upswing, according to the 2019 State of the Industry U.S. Packaging Machinery Report, a study from PMMI, The Association for Packaging and Processing Technologies.
The report finds that the U.S. market for packaging machinery was worth $11.2 billion in 2018, an increase of 8.8% from 2017. The value of domestic shipments of U.S.-produced machinery was estimated at $8.7 billion in 2018 and is expected to grow at a compound annual growth rate of 3.8% to $10.9 billion. In addition, the total U.S. production of packaging machinery was worth an estimated $9.5 billion in 2018.
The largest industry sector in terms of shipment revenues is the food sector with 38.8% of shipment revenues, followed by the beverage industry with 23.6% of shipment revenues.
As demand for U.S. packaging machinery grows, so do the requirements of end users, including food and beverage manufacturers. For example, the rise in e-commerce means end users want packaging that is durable enough to protect products as they go through the complex supply chain, but still cost-effective and sustainable. In addition, while there is demand for complete packaging lines, many manufacturers also want modular machines that are automated and flexible enough to accommodate a wide variety of product sizes and increasing SKUs. And to comply with food safety regulations, food and beverage processors are seeking out packaging machinery that offer traceability or serialization in order to trace products throughout the supply chain.
To download the 2019 State of the Industry U.S. Packaging Machinery Report, click here.
Make plans to visit PACK EXPO International in Chicago, Nov. 8-11, to see the latest technologies for food processing and packaging machinery and materials.