According to PMMI research, the value of domestic shipments rose 2.9% to $7.73 billion in 2016.

Pack Expo Las Vegas: Packaging equipment orders on the rise

PMMI announced results from its “State of the Industry: U.S. Packaging Machinery” report at the event. Jorge Izquierdo, vice-president, market development, PMMI, said the packaging industry reached nearly $10 billion annually. He noted that the health of the industry can be seen in its 4.8% growth in 2016 and attributed the increase in part to the exchange rate between euros and dollars in 2016.

The reports also revealed a contributing factor for progress in food and beverage packaging — which experienced a 2.3% CAGR increase — is the expansion of stock-keeping units that food manufacturers are now producing. 

Click here for a full analysis of the report.