This report is an excerpt from the 2017 Packaging Outlook Report, featured in Packaging Strategies NEWS.
March 13, 2017
PMMI’s “2016 State of the Industry: U.S. Packaging Machinery Report” analyzed 28 packaging machinery categories and revealed the value of domestic shipments of packaging machinery is projected to grow at a compound annual growth rate (CAGR) of 2.4% from $7.51 billion in 2015 to $8.5 billion in 2020.
Consumer packaged goods companies (CPGs) continue to face major changes across the industry. Ecommerce and digital marketing continue to rise steadily in importance, though physical stores show no signs of going away.
Advancements in films – for nearly all types of packaging – continue to prove we are only touching the surface of these dominant materials. Nowadays, consumers as well as retailers pay more attention to packaging that keeps products safe, including films, when making their purchasing decision.
The robotics market in North America set new records for the first nine months of 2016. According to the Robotic Industries Association (robotics.org), 23,985 robots, valued at $1.3 billion, were ordered from North American companies in the first nine months of 2016 – an increase of 7% in units over the same period in 2015.
The U.S. packaging machinery industry continues to experience strong growth. The value of domestic shipments of packaging machinery is projected to grow at a compound annual growth rate (CAGR) of 2.4% reaching $8.5 billion in 2020.