US packaging machinery market estimated at $ US 10 billion as of 2015

US packaging machinery market estimated at $ US 10 billion as of 2015

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According to the soon to be released 2016 PMMI State of the Packaging Industry – US Packaging Machinery Report and infographic from PMMI, The Association for Packaging and Processing Technologies, the US Packaging Machinery Market is estimated at $ US 10 billion as of 2015. The new advances on display on the Innovation Stage are fueling industry growth.

As the infographic highlights, the value of domestic shipments of packaging machinery is projected to grow at a CAGR of 2.4 % to $8.5 billion in 2020. The labeling, decorating and coding, and case handling machinery groups are forecast to grow the fastest of all machinery types to 2020, at CAGRs of 3.9 and 2.5 % respectively. The pharmaceuticals sector is forecast to grow the fastest of all sectors to 2020, at a CAGR of 2.8 %. This is followed by the beverages sector, which is forecast to grow at a CAGR of 2.4 %.

At the Pack Expo Innovation Stage, located in the Grand Concourse, attendees can attend free sessions focused on the trends that are driving industry growth such as food safety, OEE, Internet of Things, track and trace technology, flexible manufacturing systems, packaging for eCommerce, remote monitoring, printing technologies and much more.

Pharma Expo hosted an additional Innovation Stage in the West Lobby addressing innovations for the pharmaceutical industry including tamper evident solutions, serialization, active packaging solutions, process control, protective packaging.

All Innovation Stage sessions are 30-minutes in length and free to attend. Check the schedule for full details. The full program will also be available on the Pack Expo International/Pharma Expo mobile app.