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 $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" 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 four to five percent.
To meet the ever-evolving trends, 70 percent of food manufacturers from the report cite flexibility and faster changeover as the most desired machine improvements 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 development among 40 percent of respondents. Thirty-two percent 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 (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 all registered attendees and exhibitors on March 3 from 4-6 p.m., followed by the Packaging and Processing Women’s Leadership Network’s “Financial Empowerment and Fixing the Broken Rung” breakfast event on March 4 from 8-10 a.m. Keynote speakers, 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.
Free education on the show floor provides opportunities for attendees not only to see technology in action and talk with suppliers but also learn about best practices and industry breakthroughs. The Innovation Stage consists of a series of 30-minutes sessions presented by industry experts each day, while the Forum includes 45-minute seminars about the latest industry trends with hands-on activities, small group discussions and Q&A sessions. Registration is $30 through Feb. 7 after which the price increases to $100. For more information and to register online, visit www.packexpoeast.com.