By the end of 2022, the market for blow-molded bottles is anticipated to be worth US$ 90.3 billion, growing at a CAGR of 4.8% from 2022 to 2032. By the end of 2032, the market for blow-molded bottles is anticipated to generate an additional US$ 144.3 billion in opportunity.
One of the key factors driving the market is an increase in capacity addition operations in high-growth regions like Asia Pacific and the Middle East & Africa. It is projected that these areas will cut the cost of production while also creating a steady demand for blow moulded bottles.
Over the last few years, there has been a spike in capacity expansion in high-growth regions such as the Middle East and Asia Pacific. These regions are generating a steady demand for polymers and are also lowering their total manufacturing costs. Manufacturers are looking for machines that can provide improved precision, cost effectiveness, and flexibility in order to offset the significantly rising cost of manufacturing in various high-demand end use segments.
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Key Takeaways from Blow Molded Bottles Market
* By the next decade, the blow molded bottles market is expected to grow by 1.6x times than its current value.
* Based on material, the plastic segment is expected to grow at a CAGR of 4.6% in the forecast period from 2022-2032.
* By end use, the food & beverages segment is estimated to reach a valuation of US$ 58 Bn by the end of 2032.
* The South Asia blow molded bottles market is predicted to account for roughly 23.5% of the global market share during the forecast period.
* The India blow molded bottles market is expected to create an incremental opportunity of US$ 6.1 Bn by 2032.
"Urgent need to increase the shelf life of food products and rising concerns about the safety of food & beverages are projected to boost the global blow molded bottles market," says a FMI analyst.
Increasing Demand for Biodegradable Plastic to Boost the Global Market
Use of recyclable or biodegradable plastics is on the rise as a result of growing concerns regarding environmental damage brought on by the overuse of plastic. The majority of firms are nowadays employing compostable substitutes for plastic since government agencies have implemented strict laws and outlawed the use of plastic for packaging.
Many countries have framed new regulations and laws to encourage firms to switch from conventional plastic to recyclable plastic, notably in the packaging industry, because of its many advantages. For instance, Greif Inc. sells refurbished and remanufactured plastic containers that are built with HDPE, which has been recycled 75% from post-consumer containers. With these changes, the blow molded bottles market will witness a significant amount of growth in the near future.
How is the U.S. Faring in the Blow Molded Bottles Market?
"Expansion of the U.S. Packaging Industry Drive Sales of PET Bottle Blowing Machines"
According to the Information Technology and Innovation Foundation's Report, the U.S is making huge technological innovations in terms of product variety to increase production in the packaging industry as e-commerce has exhibited tremendous growth. The U.S. packaging market has encouraged manufacturers to launch new innovative bottles to increase sales of blow molded bottles.
Surging demand for e-commerce is also helping the packaging industry to expand rapidly in the country, which would contribute to growth in the market for blow molded bottles. Thus, the U.S. blow molded bottles market is expected to witness a CAGR of 4.0% in the forecast period (2022-2032).
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Competitive Landscape: Blow Molded Bottles Market
Some of the leading players in the blow molded bottles market include
- ALPHA Packaging,
- Millet Plastics Inc.,
- Zhongshan Boyu Precision Mould Manufacturing Co., Ltd,
- APEX Plastics,
- Valencia Plastics, Inc.,
- Us Pack Group,
- Urola Packaging,
- Robinson plc,
- Gil Pack,
- PET Blow Molding,
S.I.P.A. S.p.A., Rosti Group AB, Berry Global, O. BERK, Retal Industries Ltd, Grief Inc, Visy, Garrtech Inc, Graham Packaging co, and LyondellBasell Industries B.V among others.
Blow Molded Bottles Market Outlook by Category
- Below 100 ML
- 100-500 ML
- Above 500 ML
By End Use:
- Food & Beverage
- Cosmetics & Personal Care
- Others (Chemicals, etc.)
- North America
- Latin America
- Middle east and Africa
- East Asia
- South Asia
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