$10.2bn
$XXX.Xm
23,201
786
$X.Xbn
Packaging machinery manufacturers create machinery used for wrapping, canning, bottling and labeling for several markets in the food and beverage sector. The industry also manufactures thermoform, blister and skin packaging machinery for pharmaceutical products and medical devices. The pandemic brought a drop in consumer spending in 2020, causing revenue to dip for packaging machinery manufacturers. The release of pent-up demand jumpstarted recovery in 2021, providing record-breaking revenue growth for the industry. Still, a strong US dollar has supported the intense import penetration and harmed exports as foreign machinery has become more affordable. Inflationary pressure has lowered disposable income, resulting in slower product sales and affecting machinery demand. Packaging Machinery Manufacturing industry revenue has been expanding at a CAGR of 3.1% over the past five years and is expected to total $10.5 billion in 2024, when revenue will jump by an estimated 1.3%.
Industry revenue has grown at a CAGR of 3.4 % over the past five years, to reach an estimated $10.2bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
---|---|---|---|---|
Pro Mach, Inc. | 799.0 | 97.2 | 12.2 | |
Illinois Tool Works Inc. | 328.5 | 54.1 | 16.5 |
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Packaging Machinery Manufacturing in the US
Industry revenue is measured across several distinct product and services lines, including Wrapping, bundling and palletizing, Case forming, packing, packaging bottling and sealing and related pa and Other. Wrapping, bundling and palletizing is the largest segment of the Packaging Machinery Manufacturing in the US.
Case forming is used across industries
This industry manufactures packaging machinery, such as wrapping, bottling, canning and labeling machinery.
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NAICS 33399 - Packaging Machinery Manufacturing in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
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A strengthening US dollar negatively affects domestic manufacturers by making their machinery more expensive than foreign alternatives. This reduces the competitiveness of do...
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Manufacturers increasingly adopt automation to reduce operating costs, minimizing the proportion of revenue spent on wages. Workers must possess diverse and advanced skills t...
Including values and annual change:
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Key data sources in the US include:
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The market size of the Packaging Machinery Manufacturing in the US industry in United States is $10.2bn in 2024.
There are 786 businesses in the Packaging Machinery Manufacturing in the US industry in United States, which has declined at a CAGR of 0.5 % between 2019 and 2024.
The market size of the Packaging Machinery Manufacturing in the US industry in United States has been growing at a CAGR of 3.4 % between 2019 and 2024.
Over the next five years, the Packaging Machinery Manufacturing in the US industry in United States is expected to grow.
The biggest companies operating in the Packaging Machinery Manufacturing market in United States are Pro Mach, Inc. and Illinois Tool Works Inc.
Wrapping, bundling and palletizing and Case forming, packing, packaging bottling and sealing and related are part of the Packaging Machinery Manufacturing in the US industry.
The company holding the most market share in United States is Pro Mach, Inc..
The level of competition is moderate and steady in the Packaging Machinery Manufacturing in the US industry in United States.