With a projected average Compound Annual Growth Rate (CAGR) of 3.4%, the stretch blow molding machines market is poised for substantial expansion in the forecast period. In 2023, the market is forecasted to command a share of US$ 871.9 million, and industry expectations are high as it gears up to surpass this mark, reaching an estimated value exceeding US$ 1.2 billion by the year 2033. This optimistic outlook underscores the industry’s resilience and the increasing demand for advanced packaging solutions, positioning stretch blow molding machines as pivotal players in the evolving landscape of container manufacturing.
The surging pharmaceutical and food & beverage industries have fueled the demand for packaging equipment, notably stretch blow molding machines, playing a pivotal role in crafting packaging items like tubes and bottles.
Germany’s prominence in the European stretch blow molding machines market is influenced by various factors contributing to regional growth. Expected to secure a substantial share in the European market, Germany is projected to achieve a Compound Annual Growth Rate (CAGR) of 1.7% from 2023 to 2033, reaching a market value of US$ 36.0 million by 2033.
A key driver for this growth is the heightened trade activities among European countries, facilitating market expansion. Moreover, the increased consumption of packaged food and beverages in Germany is propelling the regional market’s upward trajectory. The shift in consumer preferences from alcoholic to non-alcoholic beverages, driven by heightened awareness of alcohol-related health effects and an increase in liver diseases, has led to a surge in demand for juices, soft drinks, flavored waters, and other non-alcoholic beverages in the country.
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To meet this demand, leading stretch blow molding machine manufacturers in Germany, such as KHS, are focusing on launching products with higher production capacity. For example, KHS introduced its InnoPET Blomax Series V, capable of producing up to 90,000 PET bottles per hour, addressing the needs of non-alcoholic beverage manufacturers. These developments contribute to Europe’s substantial market share, accounting for approximately 17.3% in 2022.
- The rapidly increasing demand for packaged food and beverages due to the growing number of young populations working in corporates fuels the market growth. Furthermore, the introduction of new packaging products is also fueling the demand for stretch blow molding machines.
- The consumption through pharmaceutical, automotive, and FMC sectors is rising as the effects of covid-19 diminish. Alongside, the vendors working on an efficient and faster molding method that promotes lower raw wastage are expanding the stretch blow molding machines market.
- Asian economies with higher populations and increased verticals are garnering market growth during the forecast period.
- The increased presence of small and medium-sized packaging solutions are anticipated to contribute to the growth of the stretch blow molding machines market.
Supporting Demand for Stretch Blow Molding Machines in Food & Beverage Industry
According to FMI, the food & beverage industry exhibited robust market growth, contributing to 47.3% of global sales in 2018.
The segment’s expansion is driven by rising consumer demand for ready-to-eat food and beverage products, coupled with increased consumption of bottled water in key markets such as the USA, China, India, and Germany.
Additionally, the personal care & cosmetics industry is poised to secure a significant share in the stretch blow molding machines market until 2028. Factors propelling growth in this segment include escalating concerns about personal hygiene and the growing use of cosmetic products to enhance facial aesthetics.
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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.
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
- Tech-Long Inc.
Market Development
- Bekum Maschinenfabrik GmbH, a leading manufacturer of industrial machinery announced launching its new blow molding machine for packaging, Concept 808. The new machine is integrated with an intuitive touchscreen, Bekum Control 8.0 and is suited for multi-cavity three-layer applications.
- Krones AG, a German packaging and bottling machine manufacturer announced acquiring the business operations and assets of a leading process technology equipment manufacturer Shanghai Xian tong Equipment Installation. The acquisition will assist the company to expand its product portfolio and strengthen its footprint in China market.
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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 Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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