Global Food Packaging To Hit $400 Billion By 2025 The global food packaging market will approach $400 billion by 2025, making operational improve- ments and new equipment critical for consumer pack- aged goods (CPG) companies to keep pace, according to the newly released Trends and Advances in Food Packaging and Processing infographic and report from PMMI,TheAssociation for Packaging and Process- ing Technologies. Single-serve packaging, ready-to-eat meals, healthy options and enhanced convenience options are some of the continued contributing factors. More recently, a growing supply chain, plant-based alternatives and the demand for food delivery services have emerged as new drivers to the combined annual growth rate of four to five percent. To meet the ever-evolving trends, 70 percent of food manufacturers from the report cite flexibility and fast- er changeover as the most desired machine improve- ments at a time when 72 percent expect to spend money on new machinery and 80 percent report an interest in modular equipment. The most significant wants for future operational improvements revolve around automation and getting the most out of each piece of machinery. Installing more automation, in general, leads the way with 52 percent, with deploying robotics an impending devel- opment among 40 percent of respondents.Thirty-two percent intend to introduce overall equipment effec- tiveness into their operations going forward, with a goal of improving manufacturing productivity. With meeting production demands one of the most critical immediate concerns noted in the report, com- panies seeking machinery improvements or an ex- pansion of their operational abilities can find the lat- est technological solutions and innovations at PACK EXPO East (March 3-5, 2020, Pennsylvania Convention Center, Philadelphia). Produced by PMMI, the show offers a projected 7,000 attendees the opportunity to gather insights from 400 exhibiting companies as well as network with industry peers.An opening Taste of Philly reception welcomes attendees and exhibitors on March 3, followed by the Packaging and Processing Women’s Leadership Net- work’s Financial Empowerment and Fixing the Bro- ken Rung breakfast event on March 4. Keynote speak- ers, Kweilin Ellingrud, a Senior Partner at McKinsey & Company, and Kelly Coyne, Vice President of Global Women’s Strategies, Impax Asset Management LLC and Pax Ellevate Management LLC,will address the issues of the“power of parity”and accelerating gender equality.
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