Growth Forecast as PACK EXPO Las Vegas and Healthcare Packaging EXPO Bring Industry Together
According to the Association for Packaging and Processing Technologies, packaging machine shipments could reach $ 12.8 billion in 2026, with a CAGR of 5.2%.
Las Vegas, NV. ; September 27, 2021 – The world’s most comprehensive packaging and processing event in 2021 – PACK EXPO Las Vegas and Healthcare Packaging EXPO (September 27-29; Las Vegas Convention Center) – opened today, accompanied of aggressive growth projections for the United States Packaging Machinery Market in 2022. Based on the recently released State of the United States Packaging Machinery Industry report by the owner and producer of PMMI, the Association for Packaging and Processing Technologies exhibit, packaging machine shipments could reach $ 12.8 billion in 2026, with a CAGR of 5.2 percent.
“We are delighted to welcome the industry together for the first time in 18 months,” said Jim Pittas, President and CEO of PMMI. “Now more than ever, keeping abreast of new innovations in our industry is essential, and with 1,500 companies exhibiting, there is no better place to do so than here at PACK. EXPO Las Vegas and Healthcare Packaging EXPO.
After a difficult 2020, the packaging industry has faced operational and workforce challenges exacerbated by COVID-19 while experiencing unprecedented demands for consumer products. As PMMI’s State of the Industry report points out, the packaging industry has responded to these challenges through automation and innovation.
2020 was a banner year for packaging machines. The total market size in the United States reached $ 12.3 billion, a growth of 14.4%, and in the case of domestic shipments, the growth of 14.7% reached $ 9.4 billion . This unprecedented growth in demand generated a strong order backlog of 22.3% to reach a level of $ 3.14 billion for US manufacturers. While this increase in demand has lengthened delivery times in 2021, complications in the supply chain at all levels continue to challenge delivery times, pushing them even longer.
“As our industry continues to grow aggressively, operational priorities have changed,” says Jorge Izquierdo, vice president, market development, PMMI. “Our research indicates that the top five operational priorities for packaging and converting manufacturers this year are: workforce, automation, productivity, growth and supply chain. These priorities will continue for the foreseeable future, framing an environment for accelerated investment in packaging and processing technologies. “
Food is the largest packaging machinery sector in 2020, accounting for 40.2% of shipping revenue, followed by beverages at 21%. The household, industrial and agricultural chemicals sector is expected to experience the fastest growth through 2026, with a CAGR of 8.6%, followed by the pharmaceutical sector, with a forecast of 8%. Filling and dosing machine types, bottling line and forming, filling and sealing machine types are expected to grow fastest of all machine categories through 2026 with CAGRs of 6.5, 6.1 and 5 , 9%, respectively.
As the industry continues to grow, there is no better place to see the latest technology up close and personal than PACK EXPO Las Vegas and Healthcare Packaging EXPO. The show offers world-class focused training sessions and countless networking opportunities spread across four expansive venues at the Las Vegas Convention Center.
To keep up with all new additions as well as old favorites, attendees can use My Show Planner to check the booth activity schedule, add itinerary sessions, and plan routes around the show. The show’s mobile app, sponsored by ProMach, is the ideal on-the-go solution to find exhibitors, products and training sessions, create and save a personal agenda, and navigate between booths using the interactive map – in addition, it synchronizes with your My Show Organizer. Search for “PACK EXPO” in the App Store or Google Play, or visit packexpolasvegas.com/app.
The State of the Industry 2021 report summary is now available for download at pmmi.org. For more information, contact Paula Feldman, Senior Director, Business Intelligence, PMMI at [email protected]
PACK EXPO Las Vegas and Healthcare Packaging EXPO are open now and run until Wednesday, September 29. Registration is $ 130 and is available on site or online at packexpolasvegas.com.
Visit the show website to find out about the PACK Ready health and safety plan.
PMMI, the Association for Packaging and Processing Technologies, represents more than 900 North American manufacturers and suppliers of equipment, components and materials as well as suppliers of related equipment and services to the packaging industry and of transformation. We work to advance a variety of industries by connecting consumer goods companies with manufacturing solutions through the PACK EXPO world-class trade show portfolio, leading business media, and a wide range of resources to empower our members. PACK EXPO fairs 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, Enlace EXPO PACK, EXPO PACK México and EXPO PACK Guadalajara. PMMI Media Group connects manufacturers to the latest packaging and processing solutions, trends and innovations throughout the year through brands such as Packaging World, Automation World, Healthcare Packaging, Contract Packaging, ProFood World, Mundo PMMI and OEM. PMMI Business Drivers helps members pursue operational excellence through workforce development initiatives, provides actionable business insights on economic, market, and industry trends to support business growth strategies. members and actively connect the supply chain throughout the year.
Learn more at pmmi.org and packexpo.com and pmmimediagroup.com.