U.S. packaging industry market value approaching $10 billion

Registration for PACK EXPO East 2018 (April 16–18; Pennsylvania Convention Center, Philadelphia), a recent addition to the PACK EXPO portfolio of tradeshows launched to keep up with demands in a prospering market, opened this week amidst forecasts of strong growth in the U.S. packaging industry from the 2017 State of the Packaging Industry report by PMMI, The Association for Packaging and Processing Technologies.

Released on the first day of PACK EXPO Las Vegas (Sept. 25-27; Las Vegas Convention Center), The State of the Industry U.S. Packaging Machinery Report shows a 4.8 percent increase in the U.S. packaging machinery market from 2015 to 2016, coming in with a total market value of $9.8 billion. On display at PACK EXPO East will be many of the innovations and technologies that are driving this increase in market value.

“Attending PACK EXPO East is the most efficient way to engage suppliers of packaging technologies in the industry’s manufacturing-rich East Coast,” says Jim Pittas, COO, PMMI. “The show brings together large multinational exhibitors, as well as some of the fastest growing regional packaging companies who target niche markets. The region where PACK EXPO East is located represents one of the fastest growing areas in the industry and the intimacy of the event allows attendees and exhibitors to spend quality time understanding each other’s operations.”

PACK EXPO East show organizer, PMMI, produces the study based on data provided by manufacturers in the US and import and export data from the US Census Bureau. The report analyzes 28 packaging machinery categories and 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.

Per the report, the pharmaceuticals sector is predicted to grow at a CAGR of 3.6 percent, the fastest of all sectors, from 2016 to 2022. This is followed by food (includes nutraceuticals) which is forecast to grow at a CAGR of 2.3 percent from 2016 to 2022.

“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 is fueling this development,” says Jorge Izquierdo, vice president, Market Development, PMMI.

The executive summary of the 2017 State of the Industry report is now available for download. For more information, contact Paula Feldman, director, Business Intelligence, PMMI at [email protected].