$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 |
To view the market share and analysis for all 2 top companies in this industry, view purchase options.
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.
Purchase this report to view all 2 major companies in this industry.
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.
Increasing demand in the pharmaceutical market has led to significant revenue growth. This sector is commonly known for its resilience, allowing it to thrive even in challeng...
Learn about an industry's products and services, markets and trends in international trade.
The pharmaceutical market has grown. This expansion is primarily attributed to advancements in drug development and rising global demand for healthcare solutions, which boost...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Proximity to major markets can significantly reduce transportation costs for manufacturers by streamlining the supply chain and ensuring faster delivery of goods. This advant...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Product specialization intensifies competition among manufacturers to address the needs of large markets. By focusing on specific industries, manufacturers can tailor their p...
Learn about the performance of the top companies in the industry.
Major manufacturers consistently innovate to align with emerging packaging trends, introducing machinery adaptable to new materials and various packaging sizes. This ensures ...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
A strengthening US dollar negatively affects domestic manufacturers by making their machinery more expensive than foreign alternatives. This reduces the competitiveness of do...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
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:
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Unlock comprehensive answers and precise data upon purchase. View purchase options.
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.