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Steady growth seen for food packaging machinery sales

A market intelligence report reveals a positive outlook for U.S. food packaging equipment through 2003.

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The new millennium marks an opportunity for prognosticators to portend the future. For manufacturers of food and beverage packaging machinery, the future looks solid, though perhaps not as strong as in recent years.

That's according to a market intelligence report published by Specialists in Business Information, a "brand" of Kalorama Information (New York, NY). The SBI Market Profile: Food Processing and Packaging Equipment report is published irregularly, with its most recent version dated June 1998. What makes the report especially interesting is its five-year forecast.

Based on market trends and historical factors, this report projects a compound annual growth rate (CAGR) of 4.9% for U.S. sales of packaging machinery for the food and beverage industries only. That figure reflects domestic sales minus exports plus imports.

In its executive summary, the report says, "Due to its competitive nature, food processing and packaging equipment industry growth patterns and profitability have only been average compared to other sectors of the domestic economy." Comparing processing and packaging equipment, the report says that between 1992 and 1998, processing equipment sales increased at a stronger rate than packaging machinery for food applications. "Despite this trend," it says, "food and beverage manufacturers continue to spend more on packaging machinery than on processing equipment."

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