Trends Shaping Today’s Packaging Industry

Recently, the JM Search Packaging and Process Industries Practice spent several days interfacing with executives, investors, and advisors from the packaging ecosystem at the 2024 Pack Expo event held in Chicago, Illinois. With over 77,500 industry experts in attendance, this annual event presents an opportunity to speak with C-Suite leaders and private equity investors about how they are navigating the current market climate, as well as trends they are seeing, and solutions being deployed to address today’s greatest challenges.

Many executives shared that they are still weathering a very challenging year but there was significant optimism regarding demand improvement, as well as increased pre-market M&A activity that should lead to a very dynamic next 18-24 months. We met with a growing number of investors who are deploying significant time and resources towards an “inaugural” investment in the packaging sector, indicating a market that is poised to continue to attract fresh capital heading into 2025.

In our conversations with over 100 executives during the four-day conference, several tangible themes surfaced, including continued focus on sustainability initiatives, adopting AI into more business processes, and continued competition for labor.

In the senior leadership ranks, executives made job changes at a slower pace in late 2023 and 2024 than in prior years, mostly as a direct result of the subdued M&A market, as well as muted demand for growth talent in the face of soft economic results. However, we did observe executive talent movement in places where underperforming businesses had eroded EBITDA and enterprise value, diminishing the value of short-term and long-term compensation incentives.  Based on the significant uptick in pre-market M&A activity, we anticipate a return to a highly-competitive talent market for proven executive leadership in the packaging industry, with another round of compensation inflation to follow.

With significant year-over-year growth, and record breaking attendance, this packaging and processing show continues to offer invaluable networking and learning opportunities for any executives operating within or in support of this dynamic industry. As such, JM Search once again welcomed over 300 investors, advisors, and executives to our annual expo networking event, “A Night at The Drake,” held on Monday, November 4^th. A tradition that started over two decades ago, this gathering has grown to become the premier social networking event within the packaging industry. See what a few have to say about this year’s event:

“Thank you again for such a wonderful reception on Monday night at the Drake. Everyone knows that is the place to be on a Monday and it is by far the best attended event at the show which is all down to you and your team. Thank you for letting me be a part of it.” – Packaging Industry Investment Banking Professional

“It was great seeing you Monday. Thanks again for hosting a great event.” – Private Equity Backed Packaging CEO

“Appreciate you including me in your event. It was fantastic as always.” – Packaging Industry Investment Banking Professional

We hope to see you all again next year as we continue to innovate, collaborate, and progress across the packaging and processing landscape.