Packaging Machinery Manufacturing in the US - Industry Market Research Report

Packaging Machinery Manufacturing in the US - Industry Market Research Report

Packaging Machinery Manufacturing in the US

The Packaging Machinery Manufacturing industry primarily manufactures machinery used for wrapping, canning, bottling and labeling for several markets in the food and beverage sector. The industry also manufactures thermoform, blister and skin packaging machinery for pharmaceutical products and medical devices. Packaging machinery manufacturers were affected by the 2020 pandemic as consumer spending fell, causing revenue and profit to drop. A quick recovery in 2021 resulted in record-breaking revenue growth, mainly caused by pent-up product demand. A strong US dollar supports the already intense import penetration and harms exports as foreign machinery becomes more affordable. Recent inflationary pressure has lowered disposable income, resulting in falling product sales and affecting machinery demand. As a result, revenue is expected to expand at a CAGR of 1.9% to $9.4 billion over the past five years, including a dip of 0.4% in 2023 alone.

This industry manufactures packaging machinery, such as wrapping, bottling, canning and labeling machinery.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.