CPGs Need to Adapt to Meet Food Packaging Demand
The global food packaging market will approach $400 billion by 2025, making operational improvements and new equipment critical for consumer packaged goods (CPG) companies to keep pace, according to the newly released infographic and report from PMMI, The Association for Packaging and Processing Technologies. Download the infographic below..
Single-serve packaging, ready-to-eat meals, healthy options and enhanced convenience options are some of the continued contributing factors. More recently, a growing supply chain, plant-based alternatives and the demand for food delivery services have emerged as new drivers to the combined annual growth rate of 4% to 5%.
To meet the ever-evolving trends, 70% of food manufacturers from the report cite flexibility and faster changeover as the most desired machine improvements at a time when 72% expect to spend money on new machinery and 80% report an interest in modular equipment.
The most significant wants for future operational improvements revolve around automation and getting the most out of each piece of machinery. Installing more automation, in general, leads the way with 52 percent, with deploying robotics an impending development among 40% of respondents. And, 32% intend to introduce overall equipment effectiveness into their operations going forward, with a goal of improving manufacturing productivity.
With meeting production demands one of the most critical immediate concerns noted in the report, companies seeking machinery improvements or an expansion of their operational abilities can find the latest technological solutions and innovations at PACK EXPO East (March 3-5, 2020, Pennsylvania Convention Center, Philadelphia).