See new food packaging & processing solutions at PACK EXPO in Chicago
Discover new food packaging and processing innovations from 2,500+ suppliers, all under one roof at PACK EXPO International in Chicago.

End Users Give Mixed Signals on U.S. Packaging Machinery Purchase Trends

Packaging Machinery Purchase trends vary by sector, with industries like beverage and pharma showing greater production expansion than others.

The pharma sector holds the highest production expansion investment levels in 2023, with several large manufacturers announcing investments in the billions.
The pharma sector holds the highest production expansion investment levels in 2023, with several large manufacturers announcing investments in the billions.
Getty Images

The uncertainty surrounding today’s U.S. economy has led to more conservative packaging machinery purchase behavior among CPGs, but some sectors are bucking the trend.

That’s according to PMMI Business Intelligence’s “2023 State of the Industry” report. The announced production expansion plans by the largest end-users across food, beverage, household, personal care, pharmaceuticals, and others show some sectors are behaving more conservatively than others.

The food sector holds the largest share of shipment value, but economic uncertainty may lead to dampened market growth through 2024.The food sector holds the largest share of shipment value, but economic uncertainty may lead to dampened market growth through 2024.PMMI Business Intelligence: 2023 State of the Industry

Packaging Machinery Purchase Trends in Food

The food sector holds the largest share of 2022 packaging machinery shipments by industry at 43%. It also holds the largest shipment value for 2022 at around $4.3 billion, with a 2027 value forecast closer to $5.6 billion.

There are a few instances of large, planned expansions which were announced in 2023, notably Tyson’s $1.3 billion investment, which it plans to see through by 2027.

However, this is the exception. PMMI Business Intelligence researchers believe food manufacturers are in a holding pattern given the current economic uncertainty. This will likely dampen market growth through 2024.

Beverage Sector Growth

The beverage sector showed a higher number of planned investments announced in 2023 when compared to the food sector.

Back to Basics: Understanding Conveyors for Food Processing
Discover how modern conveyors enhance food processing—boost efficiency, ensure safety, and save space. Explore the latest tech and tips to optimize your operations.
Read More
Back to Basics: Understanding Conveyors for Food Processing
Special Report: Essential tools for effective sanitation
Today’s food processors are faced with an ongoing labor shortage and pressure to increase production to meet market demands. That means less downtime for cleaning while adhering to strict food safety guidelines. How can a manufacturer overcome these hurdles to stay profitable?
Read More
Special Report: Essential tools for effective sanitation