HERNDON, VA — According to the 2024 State of the Industry report published by PMMI, the association for packaging and processing technologies and producer of Pack Expo portfolio of trade shows, the US packaging machinery shipments grew 5.8% in 2023, reaching $10.9 billion in revenue.
However, while the growth rate is projected to slow to 2.5% in 2024, the forecast for 2025 is expected to see an uptick in growth rates and even reach a high of 8.0% in 2027. The stagnant 2024 growth is expected to be the next low point in the industry’s typical peak-to-trough sales cycle, which typically lasts three to five years.