Food processors to purchase less packaging equipment
Although spending for packaging machinery by U.S. domestic companies is expected to rise by 2 to 3 percent this year -- to approximately $4.9 billion in sales -- spending by the food industry is expected to decline by 1 to 3 percent during the same period, according to a study by the Packaging Machinery Manufacturers Institute (PMMI).
In fact all but two defined market segments -- the other is personal care products -- are forecast to increase spending in 2000. The primary catalysts for growth -- the strength of the economy, new product information, improving manufacturing productivity and profitability with equipment upgrades -- are largely the same market drivers as last year, according to PMMI.