PACK EXPO LAS VEGAS AND HEALTHCARE PACKAGING EXPO, A HUGE SUCCESS
…INDUSTRY REUNITES FOR MOST COMPREHENSIVE PACKAGING AND PROCESSING EVENT WITH GROWTH FORECAST IN HOUSEHOLD, INDUSTRIAL AND AGRICULTURAL CHEMICALS SECTOR
The packaging and processing community came together from 27 to 29 September at the Las Vegas Convention Center, Nevada for perhaps the most important PACK EXPO Las Vegas and Healthcare Packaging EXPO ever accompanied by projections of aggressive growth for the U.S. packaging machinery market moving into 2022.
According to the show Producer - Association for Packaging and Processing Technologies (PMMI), over 23,000 attendees, eager to find solutions to current challenges, engaged with over 1,500 exhibitors across four expansive halls of more than 740,000 sq. ft. of exhibit space at the Las Vegas Convention Center thus serving as the largest trade show in the U.S. in 2021 so far.
During media briefing attended by the only industry magazine from Africa - WHERE To Print, President and CEO of PMMI - Jim Pittas satisfactorily expressed; “In a word, PACK EXPO Las Vegas and Healthcare Packaging EXPO was a success,” noting further that; “Exhibitors and attendees alike were energized by the number of people who attended and more importantly the business conducted from the moment we opened the doors.”
2020 WAS A RECORD YEAR FOR PACKAGING MACHINERY
It would be recalled that after a challenging 2020, the packaging industry faced operational as well as workforce challenges exacerbated by COVID-19 while at the same time experiencing unprecedented demands for consumer products. However, according to newly released PMMI’s State of The Industry Report, the packaging industry responded to these challenges with automation and innovation.
Based on the State of the Industry U.S. Packaging Machinery Report by PMMI, packaging machinery shipments could reach $12.8 billion in 2026, growing at a Compound Annual Growth Rate (CAGR) of 5.2 percent. The total size of the market in the U.S. went up to $12.3 billion, growing 14.4 percent, and in the case of domestic shipments 14.7 percent growth reached $9.4 billion. This unparalleled growth in demand generated a significant backlog of 22.3 percent to reach a level of $3.14 billion for U.S. manufacturers. While this increase in demand stretched delivery times in 2021, complications in the supply chain at all levels continue to challenge delivery times, pushing them even longer.
AREAS OF GROWTH & INVESTMENT OPPORTUNITIES
“As our industry continues to experience aggressive growth, operational priorities have shifted,” says Jorge Izquierdo, Vice President, Market Development, PMMI who presented the report to the media, noting further that: “Our research indicates the top five operational priorities for packaging and processing manufacturers this year are: workforce, automation, productivity, growth and supply chain. These priorities will continue for the foreseeable future, framing an environment for accelerated investment in packaging and processing technology.”
Food represents the largest packaging machinery sector in 2020, accounting for 40.2 percent of shipment revenues, followed by beverage at 21 percent. The household, industrial and agricultural chemicals sector is expected to grow the fastest to 2026, at a CAGR of 8.6 percent, followed by the pharmaceuticals sector, forecasting at 8 percent. The filling and dosing, bottling line and form, fill and seal machinery types are forecast to grow the fastest of all machinery categories to 2026 with CAGRs of 6.5, 6.1 and 5.9 percent, respectively.
This record therefore led to the industry’s readiness to come together to see the latest innovations in person and exhibitors could not have been more pleased with the traffic and sales leads gathered at their respective stands which indicated a pent-up demand from the industry.
PACK EXPO Las Vegas and Healthcare Packaging EXPO was more than just a packaging and processing equipment show. With over 80 free educational sessions, attendees (who were largely hungry for new information), took advantage of the opportunities at the Forum, the PACK to The Future, and the Innovation Stages throughout the show floor. Many accessed digital showrooms and select show content online via PACK EXPO Xpress, which debuted this year to extend the show’s reach beyond the convention center’s walls. All registered show attendees can continue to access PACK EXPO Xpress until November 19.
Not only that, the return of The Processing Zone was particularly well received by attendees and exhibitors. Thousands of attendees flocked to the North Hall to take a journey through the evolution of packaging and processing at PACK to The Future. The curated exhibit included 26 historic packaging machines dating from the late 1890s. The machinery was surrounded by imagery supplied by CPGs, museums and others such as Coca-Cola, General Mills, Kellogg, Hormel, Anheuser-Busch and Merck.
Highlight of the show’s second day came early when nearly 500 industry professionals gathered for the Packaging and Processing Women’s Leadership Network (PPWLN) Breakfast Meeting. Keynote Speaker - Tracey Noonan, co-founder and CEO of Wicked Good Cupcakes, reflected on her experience scaling an e-commerce business and managing a growing workforce. Then she was joined by Yolanda Malone, Vice President of global RD Foods at PepsiCo, and PPWLN co-chairs Jan Tharp, President and CEO, Bumble Bee Seafood Company and Sharron Gilbert, President and CEO of Septimatech Group Inc., for a candid conversation about the new world of work and what it means to the future of manufacturing.
In summary, PMMI VP of Trade Shows - Laura Thompson expressed gratitude to all who made the show a huge success: “We would like to thank PMMI’s Board of Directors, our membership, exhibitors, media and all attendees who supported PACK EXPO Las Vegas and Healthcare Packaging EXPO and made this show a success,”
In a related development, PMMI heads east for the next event in the PACK EXPO portfolio of trade shows, with registration officially open for PACK EXPO East (March 21-23, 2022; Pennsylvania Convention Center). Now in its fifth edition, the three-day event returns to Philadelphia after a record-breaking PACK EXPO East 2020 that featured 7,100-plus attendees and its largest show floor to date. For more information, visit packexpoeast.com, and for all show related information visit packexpo.com.
Download the Executive Summary of the 2021 State of the Industry Report is at pmmi.org
© with picture support/ credit from PACK EXPO, Bizuayehu Tesfaye/ Las Vegas Review-Journal, and www.packexpolasvegas.com
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