The Ucima-MECS Study Center publishes the 2023 edition of the “Il Cubo” report: the market will reach almost 60 billion euros with growth in the food and cosmetics sectors. Positive outlook also for CPS Company.
POSITIVE GROWTH TRENDS FOR THE PACKAGING SECTOR
Now in its seventh edition, “Il Cubo” by the Ucima-MECS Study Center is the econometric model of forecast analysis on the global market of packaging machinery.
The study analyzes growth trends until 2026, specifically examining 70 countries, 11 technologies and 6 sectors (food, beverage, pharma, cosmetics, chemical, and others such as tissue and tobacco).
CPS Company, with its production of primary, secondary and end-of-line packaging machinery for paper products, folded and rolls, personal care and other sectors, naturally falls within the tissue segment.
After the slowdowns caused by the pandemic and uncertainties due to the Russo-Ukrainian conflict, “Il Cubo” revises its estimates upward, setting the expected growth rate for the global market of packaging and packaging technologies at +3.8% until 2026 (+4.4% in Asia and +5.3% in Africa). Compared to current data, the global market for packaging machinery is expected to reach 59.2 billion euros in 2026, 10 billion more.
Food and cosmetics will be the two most performing sectors for the sales of packaging machinery, while the most vital types will be secondary and end-of-line packaging, especially cartoners and wrappers, and, in the field of primary packaging, closers.
A LOOK AT THE COUNTRIES
According to MECS analysts, the United States is confirmed as the most interesting basin, with an additional market of over 2.4 billion euros over the next four years, followed by China and Japan.
While Made in Italy will lose market share due to weaker export growth than its competitors, so much so that the growth rate will settle at +2.4%, a value lower than the world trend.