Amidst strong industry growth, registration for PACK EXPO East opens today where many of the industry’s newest innovations will be on display
Registration for PACK EXPO East 2018, a recent addition to the PACK EXPO portfolio of trade shows launched to keep up with demands in a prospering market, opens today amidst forecasts of strong growth in the US 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 2017, The State of the Industry US Packaging Machinery Report shows a 4.8% increase in the US 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.
Jim Pittas, COO at PMMI, said: “Attending PACK EXPO East is the most efficient way to engage suppliers of packaging technologies in the industry’s manufacturing-rich East Coast. 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 organiser, 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 analyses 28 packaging machinery categories and describes trends and the outlook for packaging machinery shipments through 2022.
The value of US domestic shipments of packaging machinery is estimated to have been worth $7.73 bn in 2016 and is forecast to grow at a compound annual growth rate (CAGR) of 2.2%, reaching $8.8 bn in 2022.
According to the report, the pharmaceuticals sector will grow at a CAGR of 3.6%, 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% 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 optimisation, as well as a rise in e-commerce is fuelling this development,” said Jorge Izquierdo, VP of Market Development at PMMI.
The executive summary of the 2017 State of the Industry report is now available, for more information contact Paula Feldman, Director of Business Intelligence at PMMI at (firstname.lastname@example.org).
Don’t miss PACK EXPO East 2018 where you can experience packaging machinery solutions from over 400 exhibiting providers. Attendees of PACK EXPO East will enjoy all of the educational and networking opportunities traditionally offered at larger PACK EXPO shows on a compact, more personable scale.