The PackagingTechAsia zone at ProPak Asia next month will feature a range of international suppliers of packaging solutions for the food and drink industry.

The packaging industry’s total value is tipped to soon reach $876 billion USD, rising to $1 trillion in 2023; the packaging machinery market, meanwhile, is forecast to grow at a compound annual growth rate of 5.15 per cent during the period between 2018 and 2022.

According to Pro-Pak Asia organisers, the Asia-Pacific market is expected to have the highest growth rate in the near future, due to growing economies and higher demand.

“Asia Pacific held 36 per cent of the market share of packaging machinery and will likely sustain the largest market position in the future as a large number of food and drink and personal care manufacturers operate in this region.

“Packaging machinery and technology is key for manufacturers looking to increase profits and respond to consumer demands and trends,” organisers said.

Pro-Pak Asia will be held from 12 to 15 June at BITEC in Bangkok, Thailand. Registration is open now.

A record number of Aussie companies will be exhibiting at the show and on the Australian Pavilion, along with the Australian Packaging & Processing Manufacturers Association (APPMA) and the Australian Institute of Packaging (AIP). The AIP is also partnering with UBM to present the first Global Packaging Forum on the opening day of the show.

Food & Drink Business

Experiential marketing start-up Brandcrush has raised $1 million to build its domestic business while further developing its offering in the US.

Federal Treasurer Josh Frydenberg has told Food & Drink Business he won't comment on the proposed takeover of Bellamy's Australia by China's Mengniu Dairy Company.

Perfection Fresh has acquired Queensland-based strawberry distribution and marketing business, Berry Yummy Marketing. It includes exclusive licences to new varieties from Plant Sciences Inc.