Against the backdrop of a lack of skilled labor, the food and beverage sector continues to invest in automated, efficient and stable processes. 

A new Freedonia Group analysis projects 4.5% annual growth for the global packaging machinery market through 2023, driven by global increases in manufacturing activity, rising mechanization in developing countries and high-value sales of state-of-the-art equipment in affluent markets.

Based on the new State of the Industry U.S. Packaging Machinery Report infographic by PMMI, The Association for Packaging and Processing Technologies, domestic shipments of packaging machinery is forecast to grow at a nearly 4% CAGR through 2024.