World demand grows

April 1, 2005
According to industrial market research firm The Freedonia Group, growth in the packaging machinery industry is showing improvement over previous years,

According to industrial market research firm The Freedonia Group, growth in the packaging machinery industry is showing improvement over previous years, as world demand is projected to rise 5.0 percent per year (including price increases) through 2008 to more than $31 billion. Developing nations are expected to post the most gains, following economic growth in developing regions and Eastern Europe. These figures show a substantial growth over the period of 1998-2003. These trends are presented in Freedonia's study World Packaging Machinery.

Fast population growth and rapidly increasing levels of industrial output will place Latin America and the Asia/Pacific Region as the two most promising markets. The growing food, beverages, chemicals, pharmaceuticals, and personal care products industries will stimulate demand in these areas. Additionally, China and India will post strong gains each.

With 2003 shipments of $4.9 billion, the U.S. is the largest producer of packaging machinery. Japan trails just behind with shipments of $4.1billion.

Labeling and coding machinery will remain the fastest growing segment among product groups, due to labeling regulations and product tracking systems for shipping companies. Filing and form/fill/seal equipment will remain the largest product group, and new product development will continue with smarter, faster, more flexible units.

Sponsored Recommendations

June 6, 2025
In the rapidly evolving landscape of industrial manufacturing, reliability, productivity, and worker safety take precedence. However, traditional connectivity approaches often...
June 6, 2025
Amidst the rapid evolution of electronics manufacturing, reliability, productivity, and worker safety remain paramount concerns. Yet, traditional connectivity methods often falter...
June 6, 2025
While many within the industrial manufacturing sector grasp the importance of smart manufacturing for optimizing processes, boosting productivity, and future-proofing operations...
June 6, 2025
For electronics manufacturers grappling with formidable challenges, navigating the path to success requires adapting to the dynamic landscape of the industry. How can electronics...

Voice your opinion!

To join the conversation, and become an exclusive member of Machine Design, create an account today!