The stretch blow molding machines market is expected to expand its roots at an average CAGR of 3.4% between 2023 and 2033. The market is anticipated to cross a market share of US$ 1.2 billion by 2033 while it is likely to be valued at US$ 871.9 million in 2023.
The consumption of bottled beverages such as non-alcoholic & alcoholic beverages, soft drinks, juices, flavored milk, and others has risen exponentially across the globe in the last couple of years. In addition to this, sale of bottled water has surged at a rapid pace, especially across the developed countries, due to the growing prevalence of water-borne diseases.
Driven by this, beverage manufactures are focusing on increasing their production capacity to meet the surging demand for bottled beverages. For instance, Coca-Cola, a leading beverage manufacturer announced investing nearly US$ 23.5 Mn to increase its production capacity in Weston and Brampton, Canada.
As stretch blow molding machines are used for manufacturing bottles for these beverages, rise in consumption of beverages is expected to bolster the growth in the market.
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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.
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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 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)
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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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