The global demand for blow-molded bottles had strong growth, as evidenced by a noteworthy CAGR of 4.2% from 2018 to 2022. Furthermore, FMI surveyed that this growth trend raised the market’s worth to over US$ 90.3 billion by the end of the survey period in 2022.
By the end of this year, 2023, it is anticipated that the global market could reach a worth of over US$ 94.6 billion. Additionally, it is predicted that from 2023 to 2033, the worldwide sales of blow-molded bottles might expand at an accelerated CAGR of around 4.8%. It is predicted that this encouraging development trajectory can create a sizeable market opportunity of US$ 151.2 billion by 2033.
The rising sales of blow-molded bottles worldwide is getting supported by many trends that reflect a change in the global packaging landscape. Given their recyclable qualities and little environmental impact, these bottles have propelled themselves to the forefront of packaging options with a growing emphasis on environmental sustainability.
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The demand among end users has increased due to their tamper-evident packaging options that improve customer confidence and guarantee product purity. Because of their adaptability, blow-molded bottles have found utility in several businesses, including those that produce beverages, cosmetics, drugs, and home goods.
The global blow molded bottles industry is witnessing a transformation these days due to changed customer tastes, increased environmental concern, and changing industrial dynamics.
Key Takeaways from the Global Blow Molded Bottle Market Study Report by FMI
- The demand for blow-molded bottles in the United States is expected to progress at a moderate CAGR of 4% during the forecast years. For the United States market players hoping to take advantage of the rising demand in the worldwide market, overcoming issues with regulatory compliance, production effectiveness, and marketing strategies might be crucial.
- Many regional markets in Europe are anticipated to shift to recyclable and reusable packaging solutions in the forthcoming years. This forecast draws attention to the industry’s potential for significant growth, particularly in Germany and the United Kingdom.
- With the alignment of environmental imperatives, varied industry uses, and industrial preferences for practical packaging, Asia Pacific’s market is expanding significantly nowadays. India, for instance, is figured out to witness an absolute dollar growth opportunity of US$ 6.1 billion over the next ten years.
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Competitive Landscape for the Blow Molded Bottle Market Players
Leading market participants in both the global and regional markets are now facing new possibilities and problems with emerging manufacturers entering the competition.
New market players are striving to stand out from the competition and develop close relationships with consumers by using distinctive forms, sizes, designs, and patterns. As digital printing technology advances, manufacturers could be better able to meet a wide range of consumer expectations by providing customized solutions to diverse sectors.
According to FMI, firms must use sophisticated production techniques and maintain a constant flow of products by developing flexible and effective supply networks. Moreover, they also have to manage changing regional rules and meet rising regional market expectations these days for ecologically friendly packaging.
About Future Market Insights Inc. (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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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