U.S. domestic shipments of packaging machinery rising to $8.5B by 2020
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.
PMMI’s 2016 State of the Industry U.S. Packaging Machinery Report also noted 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.
PMMI produces the State of the Industry study based on U.S. Census Bureau reports and shipments data provided by association members who manufacture packaging machinery. The report, which analyzes 28 packaging machinery categories, describes trends and the outlook for packaging machinery shipments through 2020. The full 2016 State of the Industry Report is available for download on pmmi.org.
DuPont Packaging calls for Entries in 29th DuPont Awards for Packaging Innovation
DuPont Packaging is requesting global packaging visionaries enter to win a sought-after DuPont Award for Packaging Innovation. Entries will be received through Feb. 10, 2017, and forms and information are accessible at packagingawards.dupont.com.
The long-celebrated awards program distinguishes companies that have answered to the worldwide mandate for improvements in customer product experiences and sustainability. Entry is free and applicants are not required to use DuPont materials in the packaging assembly. The international panel of packaging leaders who serve as judges consider excellence in technological advancement, responsible packaging and enhanced user experience. Winners will join an elite group of industry leaders to be showcased globally mid-May 2017.
Food packaging color matters to some consumers
The color of packaging is an important but tricky element, according to a new research study, “Light and Pale Colors in Food Packaging: When Does This Package Cue Signal Superior Healthiness or Inferior Taste?” For the study, marketing professors Robert Mai, Claudia Symmank, and Berenike Seeberg-Elverfeldt of Kiel University (Claudia Symmank is also research associate at the Technical University of Dresden) tested consumers’ reactions to find out if they associated pale packaging with healthy choices or poor taste and found that it wasn’t an either/or situation.
Researchers found that study participants who were not particularly health-conscious viewed the light packaging as containing a product that might be healthy but they assumed from the light-colored package it was also less tasty. When there was no actual tasting involved, such as when shoppers only scanned supermarket shelves, impressions were more significant. In this scenario, the more health-conscious participants paid less attention to the package color. When tasting was permitted, the package’s light color became a meaningful cue for health-aware individuals, but not for those less concerned about their health.
Global biodegradable packaging solutions market to reach $10.97B by 2020
The global bio-degradable packaging market is estimated at $4.92 billion in 2015 and is projected to reach $10.97 billion by the end of 2020 at a CAGR of 17.40 percent, according to Research and Markets’ report “Global Biodegradable Packaging Solutions -By Industry, Geography And Vendors- Forecasts, Trends And Shares (2015- 2020).”
This market is mainly driven by the growing conscientious population and government regulations who have started focusing towards the reduction of wastage and usage of bio-degradable packaging materials. However the lack of supply of bioplastics and the higher cost of materials are hindering the growth of this market.
Ecommerce growth is augmenting demand for protective packaging
The global protective packaging market was worth $23.09 billion in 2015 and is projected to reach $29.30 billion in 2020, growing at a CAGR of 4.7 percent, according to Research and Markets’ report, “Global Protective Packaging Market – By Regions And Vendors – Market Trends And Forecasts (2015 – 2020)”. Asia Pacific lead the Protective Packaging market with a share of 38 percent in 2015 and is estimated to grow at a rate of 7 percent per year during the projected period, while Europe is projected to witness CAGR of 2 percent for the same period.
Survey reveals value-added packaging is strategic brand investment area
Nearly three-quarters of more than 200 packing industry decision makers surveyed say packaging is important to their brand experience and a key area of investment, according to Jabil Circuit Inc., which announced the results of a survey conducted by independent research firm Dimensional Research. Findings also indicated that adoption of advanced plastic packaging capabilities – such as “intelligent” packaging, e-commerce packaging, high barrier technologies and digital printing – is growing rapidly. Many respondents plan to adopt new types of plastic packaging in the next three years.
The survey revealed leading factors that influence the selection of plastic packaging suppliers. The top three cited by survey respondents were pricing that includes all product life cycle costs, the ability to get products to market faster and advanced product design capabilities. Further, nearly a third want a supplier that can integrate smart packaging solutions, which enable enhanced customer engagement and brand loyalty.