Northern America: Machinery For Packing Market 2024

Machinery For Packing Market Size in Northern America

In 2022, the North American machinery for packing market increased by 6.1% to $X, rising for the second consecutive year after two years of decline. The total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +16.3% against 2020 indices. The level of consumption peaked in 2022 and is likely to see steady growth in the near future.

Machinery For Packing Production in Northern America

In value terms, machinery for packing production contracted modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when the production volume increased by 16% against the previous year. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Machinery For Packing Exports

Exports in Northern America

In 2022, overseas shipments of machinery for packing or wrapping were finally on the rise to reach X units after three years of decline. Overall, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 when exports increased by 18%. Over the period under review, the exports hit record highs at X units in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, machinery for packing exports reduced to $X in 2022. The total export value increased at an average annual rate of +2.9% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when exports increased by 24% against the previous year. As a result, the exports attained the peak of $X, and then declined in the following year.

Exports by Country

In 2022, Canada (X units) represented the main exporter of machinery for packing or wrapping, mixing up 74% of total exports. It was distantly followed by the United States (X units), constituting a 26% share of total exports.

Canada was also the fastest-growing in terms of the machinery for packing or wrapping exports, with a CAGR of +8.5% from 2012 to 2022. The United States (-8.9%) illustrated a downward trend over the same period. While the share of Canada (+41 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United States (-40.7 p.p.) displayed negative dynamics.

In value terms, Canada ($X) and the United States ($X) appeared to be the countries with the highest levels of exports in 2022.

Canada, with a CAGR of +7.3%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review.

Export Prices by Country

The export price in Northern America stood at $X per unit in 2022, reducing by -10.7% against the previous year. Export price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, machinery for packing export price increased by +52.9% against 2017 indices. The most prominent rate of growth was recorded in 2021 when the export price increased by 34%. As a result, the export price reached the peak level of $X per unit, and then contracted in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while Canada stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+9.6%).

Machinery For Packing Imports

Imports in Northern America

Machinery for packing imports soared to X units in 2022, with an increase of 24% on the year before. Overall, imports saw a remarkable increase. The pace of growth was the most pronounced in 2021 when imports increased by 32% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in the near future.

In value terms, machinery for packing imports fell modestly to $X in 2022. Over the period under review, imports enjoyed strong growth. The growth pace was the most rapid in 2018 when imports increased by 24%. The level of import peaked at $X in 2021, and then dropped modestly in the following year.

Imports by Country

In 2022, the United States (X units) was the key importer of machinery for packing or wrapping, generating 89% of total imports. It was distantly followed by Canada (X units), mixing up an 11% share of total imports.

The United States was also the fastest-growing in terms of the machinery for packing or wrapping imports, with a CAGR of +13.9% from 2012 to 2022. At the same time, Canada (+6.5%) displayed positive paces of growth. From 2012 to 2022, the share of the United States increased by +8.3 percentage points.

In value terms, the United States ($X) constitutes the largest market for imported machinery for packing or wrapping in Northern America, comprising 86% of total imports. The second position in the ranking was taken by Canada ($X), with a 14% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States stood at +8.8%.

Import Prices by Country

In 2022, the import price in Northern America amounted to $X per unit, shrinking by -22.3% against the previous year. Over the period under review, the import price showed a perceptible reduction. The pace of growth was the most pronounced in 2020 when the import price increased by 11% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per unit), while the United States totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (-1.8%).

Source: IndexBox Platform

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