CPGs need to adapt to meet growing food demand
Pack Expo East offers latest solutions and industry education
The global food packaging market will approach US$400 billion by 2025, making operational improvements and new equipment critical for consumer packaged goods (CPG) companies to keep pace, according to the newly released Trends and Advances in Food Packaging and Processing infographic and report from PMMI, The Association for Packaging and Processing 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 4-5%.
To meet the ever-evolving trends, 70% of food manufacturers from the report cite flexibility and faster changeover as the most desired machine improvements at a time when 72% expect to spend money on new machinery, and 80% 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%, with deploying robotics an impending development among 40% of respondents. 32% intend to introduce overall equipment effectiveness 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, companies seeking machinery improvements or an expansion of their operational abilities can find the latest technological solutions and innovations at Pack Expo East, which will be taking place from Mar 3-5 at Pennsylvania Convention Centre, Philadelphia, the US.
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 all registered attendees and exhibitors on Mar 3 from 4-6pm, followed by the Packaging and Processing Women’s Leadership Network’s “Financial Empowerment and Fixing the Broken Rung” breakfast event on Mar 4, from 8-10am. Keynote speakers, Kweilin Ellingrud, a senior partner at McKinsey & Company; and Kelly Coyne, vice president of Global Women’s Strategies, Impax Asset Management and Pax Ellevate Management will address the issues of the “power of parity” and accelerating gender equality.