![]() “Packaging is a big deal for us, and the smaller our footprint, the better.” “We come to PACK EXPO to learn what we don’t know and to find true innovation,” says Ward. “We are committed to adding value by constantly improving our show offerings to assist in driving the packaging industry into the future.”ĭarren Ward is the director of engineering at Coca-Cola, Southwest Beverages and came to PACK EXPO looking for a more environmentally friendly way to bind bottles together. “The continued success of PACK EXPO is a testament to not only our industry’s growth but PMMI’s commitment to offering a world class environment for exhibitors to offer cutting-edge solutions to our attendees,” says Jim Pittas, CEO, PMMI. Show owner and producer PMMI, The Association for Packaging and Processing Technologies, reported 457 new exhibitors this year, which is no surprise as the show opened its doors amidst forecasts of growth in the packaging industry, based on PMMI’s State of the Industry U.S. The most successful machine suppliers are adequately supporting programs aimed at attracting, hiring, training and retaining labor while also investing in new technologies which help mitigate labor-related risks to the business.Closing out another year of record-breaking events for the PACK EXPO Portfolio of Trade Shows, the largest ever PACK EXPO International and co-located Healthcare Packaging EXPO 2018 convened nearly 45,000 attendees with 2,500 exhibitors over 1.25 million net square feet at McCormick Place in Chicago. “Additionally, many suppliers are leaning on technology like predictive maintenance to help bridge the skill gap. ![]() “Many suppliers are having to re-think strategies regarding hiring and retaining labor,” the report said. Perhaps one of the biggest challenges continues to be the labor shortage, especially the availability of service technicians. However, higher interest rates have especially affected smaller producers who have had to delay planned investments. Raw material prices and component costs have begun to fall, which has stopped large price increases for equipment, the report said. Reduced revenues indicate softer demand which is allowing equilibrium to return to the supply of semiconductors.” While bad news for semiconductor suppliers, it is good news for those downstream in the supply chain. “Semiconductor suppliers, which are at the core of the control electronic shortage, are beginning to see reduced revenues quarter on quarter. “Many suppliers are still finding it difficult to source drive and control systems in Q2 2023, however even this appears to be resolving,” the report said. Supply chain problems are getting better, the report said, although there are still some challenges for equipment manufacturers. ![]() “Food and beverage tends to be so much of our business, and it tends to be very robust, very resilient,” he said. And he was optimistic about the industry, especially compared to others. Izquierdo said that the growth in the early part of this year was partly because of back orders being fulfilled. “Economic uncertainty and a high interest rate environment has led to conservative spending behavior by many end-users,” the report said. In 2024, we’re expecting 1% to 2%.”Ī return to normal growth of around 6% is predicted in 2025-26, he added.Īfter large equipment backlogs due to high demand and supply chain problems the past couple of years, the backlog is easing. So from double-digit growth in 20, in 2023 we’re expecting a growth of 3% to 4%. ![]() What’s significant is normally when you have such aggressive growth, there follows a drop. “It would be unreal to think we would continue to have this level of growth. “Certainly the base of growth is slowing as to be expected,” said Jorge Izquierdo, vice president of market development for PMMI.
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