The stretch blow molding machines market is expected to grow at an average compound annual growth rate (CAGR) of 3.4% between 2023 and 2033. By 2033, the market is projected to surpass a market share of US$1.2 billion, while it is estimated to be valued at US$871.9 million in 2023.
The market growth is primarily driven by the rapidly increasing demand for packaged food and beverages, which can be attributed to the growing number of young populations working in corporate environments. Additionally, the introduction of new packaging products is further fueling the demand for stretch blow molding machines.
The consumption of stretch blow molding machines in sectors such as pharmaceuticals, automotive, and fast-moving consumer goods (FMCG) is on the rise as the effects of the COVID-19 pandemic diminish. Furthermore, vendors are focusing on developing more efficient and faster molding methods that promote lower raw material wastage, contributing to the expansion of the stretch blow molding machines market.
Asian economies, characterized by larger populations and increased verticals, are expected to drive market growth during the forecast period. These economies are witnessing a surge in demand for stretch blow molding machines due to their expanding industries and markets.
For More Insights on this Market, Get a Sample Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-4450
The presence of small and medium-sized packaging solutions is also anticipated to contribute to the growth of the stretch blow molding machines market. These solutions cater to the needs of various industries and sectors, driving the demand for efficient and cost-effective molding machines.
Overall, the stretch blow molding machines market is poised for growth, fueled by factors such as the increasing demand for packaged food and beverages, the introduction of new packaging products, rising consumption in sectors like pharmaceuticals and automotive, and the presence of small and medium-sized packaging solutions.
Key Points
- The United States market is likely to hold the biggest space in the stretch blow molding machines market in terms of market share. The market growth is attributed to the expanding packaged consumables and restoration of packaging growth.
- The rising demand for precision and accuracy in production of packaging products fuels the regional growth at a CAGR of 3.0% during the forecast period. The regional market is expected to hold a value of US$ 286.0 million by 2033.
- The Chinese stretch blow molding machines market is the region in the market with a CAGR of 3.7% between 2023 and 2033. The regional growth is attributed to the higher working population coupled with the increased FMCG brands.
- India is leading the market in terms of the CAGR with a CAGR of 4.4% while it expects to reach a value of US$ 107.2 million by 2033.
- The two-step segment is likely to thrive in the technology type category as it thrives on a CAGR of 3.8% between 2023 and 2033. The growth is attributed to factors like higher consumption and faster processing.
- The rotary segment is expected to top the orientation category with a CAGR of 2.6% during the forecast period. The growth of this segment is fueled by faster production.
Customize your report by selecting specific countries or regions and save 30% @ https://www.futuremarketinsights.com/customization-available/rep-gb-4450
Competitive Landscape
The key competitors are working on transforming the machine so that it can cater to the modern-day packaging style such as sustainable and green packaging.. Key competitors also merge, acquire, and partner with other companies to increase their supply chain, and distribution channel. The key players in the market are: Pet All Manufacturing Inc, R&B Plastics Machinery, LLC, Zhejiang Huangyan Lingma Plastic Machinery, SIPA North America, Inc., Nissei asb company, Sidel, Jomar Corporation, Custom-Pak Inc and Tech-Long Inc.
Recent Market Developments
- Jomar Corporation has introduced the IBM techniques with no scrap, no trimming, no waste, and lower requirement of auxiliary equipment.
- SIPA North America, Inc has launched its stretch blow molding machine that produces preforms, bottles, moulds, and complete lines.
Key Players
- Pet All Manufacturing Inc.
- R&B Plastics Machinery, LLC
- Zhejiang Huangyan Lingma Plastic Machinery
- SIPA North America, Inc.
- Nissei asb company
- Sidel
- Jomar Corporation
Stretch Blow Molding Machines Market Country-wise Insights
United States: Leading Stretch Blow Molding Machines Market Driven by FMCG and Pharmaceuticals Industry
The United States holds the leading position in the stretch blow molding machines market, primarily due to the increased demand for personal care and cosmetic products, as well as the rising preference for on-the-go beverages. The market is expected to grow at a CAGR of 3.0% and reach a value of US$ 286.0 million by 2033. Manufacturers in the personal care and cosmetic industry are adopting blow molding technologies for customized packaging solutions, driving the demand for stretch blow molding machines in the country.
Germany: Prominent Stretch Blow Molding Machines Market Driven by Trade and Packaged Food Consumption
Germany is a significant player in the European stretch blow molding machines market. The market is projected to grow at a CAGR of 1.7% and reach a value of US$ 36.0 million by 2033. The country’s market growth is propelled by the increasing consumption of non-alcoholic beverages, such as juices and soft drinks, as well as the demand for high-production capacity machines to meet the rising beverage industry needs. Germany’s emphasis on launching products with higher production capacity contributes to the regional market growth.
India: Leading Stretch Blow Molding Machines Market with High Growth Potential
India holds a prominent position in terms of growth rate in the stretch blow molding machines market, with a CAGR of 4.4% between 2023 and 2033. The market in India is expected to reach a value of US$ 107.2 million by 2033. The increased consumption of fast-moving consumer goods (FMCG) and the pharmaceutical industry, along with the surge in demand for sanitizers and cleaning products during the COVID-19 pandemic, are driving the market growth. Additionally, the rising production and consumption of bottled drinks in India further contribute to the market expansion
Enquire before purchasing this report @ https://www.futuremarketinsights.com/checkout/4450
Key Segments
By Technology Type:
- Single-step Based
- Two-step Based
By Orientation Type:
- Rotary Type Machine
- Linear Type Machine
By End Use:
- Food & Beverage Industry
- Personal Care & Cosmetic Industry
- Consumer Goods Industry
- Pharmaceuticals Industry
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
About Us:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
LinkedIn| Twitter| Blogs | YouTube
For Sales Enquiries: sales@futuremarketinsights.com
