The value of domestic shipments of packaging machinery is projected to grow at a compound annual growth rate (CAGR) of 2.4 percent reaching $8.5 billion in 2020, according to PACK EXPO owner and producer PMMI, The Association for Packaging and Processing Technologies. More than half of this growth is expected to come from the food and beverage sector.
The report also notes the value of domestic shipments of U.S.-produced machinery rose 0.3 percent to $7.51 billion in 2015. Exports of packaging machinery in 2015 increased by 3.2 percent, compared to 2014 and are now $1.1B. Backlog orders of packaging machinery grew by 14.1 percent compared to backlog orders at the end of 2014.
