Near-Term Technology Expansion in the Food and Beverage Industries
Remote access and robotics are two areas in the Food and Beverage industries that are poised to see some growth moving into 2021, though the industries as a whole are expected to contract.
According to the May 2020 U.S. Packaging Machinery Purchasing Index report by PMMI Business Intelligence, CPGs in the Beverage (44.4 points) and Foods and Food Preparation (44.3 points) are estimated, by end users, to contract going in to 2021.
End User Expectations for 2021 Equipment Investment
Beverage
• End users in the Beverage industry are reporting significant slowing in the industry, with all indexes falling short of the midpoint.
• Respondents in the Beverage industry are not enthusiastic about Planned Projects, nor are they optimistic about the impact of current business conditions on future investments going in to 2021.
• Although end users are reporting significant contraction in the Beverage industry, they are also reporting some expansion in the use of certain technologies, such as cobots/robots.
• Respondents in the Beverage industry are also reporting plans for increased usage of remote access and remote monitoring, as a result of the pandemic.
Foods and Food Preparation
• Although the Foods and Food Preparation industry had a period of rapid growth, the current pandemic has resulted in some contraction.
• Regardless of the slowdown, respondents in this industry report slightly more expansion versus the last month.
• End users in the Foods and Food Preparation industry are reporting expanded use of cobots/robots, at a slightly more rapid pace than the Total Market.
• The Foods and Food Preparation industry’s plans for future use technologies are generally keeping pace with the Total Market.
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Source: PMMI Business Intelligence “May 2020 Packaging Machinery Purchasing Index”
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