PMMI: Mexican packaging machinery market getting stronger
After a slow recovery period, Mexico's packaging machinery marketplace is coming back strong, according to 2013 "Mexico Packaging Machinery Market Study" of The Association for Packaging and Processing Technologies (PMMI) .
"Current conditions in Mexico are favorable for capital investment projects," notes Enrique Guzman, Director, PMMI Latin America office, "Our researchers confirmed this through the interviews they conducted for the study, ambitious investment projects were identified, especially in the food, pharmaceutical and personal care industries."
Firms in Mexico spent US$535 million on packaging machinery imports in 2012, about 85% of their total packaging machinery expenditure, making their nation the world's seventh-largest importer of packaging machinery.
Industry experts predict 6-8% overall growth in Mexico's packaging machinery market this year, but the specific companies interviewed for PMMI's study anticipated an average 17% increase in machinery investments, according to Mr. Guzman.
The majority of the packaging equipment imports in Mexico are purchased for the food market (29%), beverage (24%), personal care (20%) and pharmaceutical (11%). Food is also the largest sector of Mexican manufacturing, generating 22% of the manufacturing gross domestic product.
The largest packaging machinery importers within this industry include a mix of large international food manufacturers and large Mexican food companies that also serve the growing Hispanic market in the US. PMMI notes that the US Hispanic market has greater purchasing power than any other Hispanic market in the world.
The pharmaceutical market is also a key player in the packaging machinery market. Mexico and Brazil are the largest pharmaceutical producers in Latin America, and the Mexican pharmaceutical industry is growing significantly, averaging annual growth rates above 6% growth over the past three years.
"The interviews we conducted for the PMMI Mexico Packaging Machinery Market Study underscored the importance of EXPO PACK México," Mr. Guzman adds. "Latin American companies are investing in machinery, equipment, components and materials to compete in the global marketplace, and to find what they need, they come to EXPO PACK México."
According to PMMI, more than 29,000 buyers attended the four-day show last June. The next edition of EXPO PACK México, June 17–20, 2014, will feature more than 1,000 packaging and processing industry suppliers at Centro Banamex in Mexico City.
