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Packaging And Design

Italian Packaging Technology Industry To See ‘Record’ Revenue In 2023

By Dayeeta Das
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Italian Packaging Technology Industry To See ‘Record’ Revenue In 2023

The Italian packaging technology industry expects revenue growth of 6%, year on year – to €9.05 billion – in 2023, according to preliminary figures from the MECS – Ucima (Italian Packaging Machinery Manufacturers’ Association) Research Centre.

If confirmed in the final report, it will mark the third consecutive year of ‘record’ performances by the sector in Italy, after 2021 and 2022, the association noted.

Ucima chairperson Riccardo Cavanna stated, “In 2023, the issue of component delays has finally been resolved, allowing companies in our sector to focus exclusively on securing and fulfilling orders and, in turn, enabling them to achieve this new record.”

Italian packaging machinery manufacturers’ sales are driven mainly by exports, which account for 81.3% of revenue, and are expected to reach €7.36 billion by the end of the year – a 12% increase over 2022, the association added.

Export sales have increased, year on year, by 25% in North America, 17% in the European Union, 22% in Asia and 31% in South America, the latest data (from January to August) showed.

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Outlook

The association noted that the industry holds a confident outlook for 2024, having already secured 8.2 months’ worth of orders.

However, the association underscored a necessity for caution, due to changing geopolitical scenarios and the upcoming final EU directives on the use of packaging.

In recent months, the sector has seen a decline in orders, compared to last year, and the trend is expected to continue in 2024, Cavanna added.

Domestic sales fell by 14%, compared to 2022, to €1.68 billion, reflecting the impact of inflation and uncertainties surrounding the Industry 4.0 scheme.

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Industry 4.0 seeks to encourage the growth and development of companies by supporting research and development, and increased innovation in production processes.

A ‘Positive Development’

Cavanna believes that the RePowerEU initiative’s allocation of €6.3 billion for the Industry 5.0 plan is a “positive development”, although the association would like to know more about how the funds will be distributed and under what criteria.

“To date, we have heard nothing about incentives for capital goods, to facilitate the ecological transition, and we are awaiting a response from the government,” he added.

Industry 5.0 places the well-being of the worker at the centre of the production process and uses new technologies to provide prosperity beyond jobs and growth while respecting the production limits of the planet, according to the European Commission.

The plan complements the existing Industry 4.0 approach by specifically putting research and innovation at the service of the transition to a sustainable, human-centric and resilient European industry, the Commission noted.

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