The PET Stretch Blow Molding Machine Market size is projected to reach US$ 2.28 billion by 2031 from US$ 1.35 billion in 2023. The market is expected to register a CAGR of 6.8% in 2023–2031. The rising consumer inclination for processed and canned juice and other liquid consumable items is fuelling the demand for PET Stretch Molding Machine Market globally. The requirement for PET bottles, particularly from the food & beverage sector, along with the popularity of these machines among other end-user industries such as pharmaceuticals and personal care and cosmetics, are expected to drive the growth of the PET Stretch Blow Molding Machine market over the forecast period.
The growing development of the food and beverage industry, along with rising demand for personal care cosmetics and pharmaceuticals, are some of the key contributors to the growth of the market globally. Growing manufacturers focus on improved product branding and marketing; hence, the emphasis on the packaging system increased rapidly. Additionally, rising consumer preference for containerized or convenient food products is estimated to drive the development of the PET Stretch Blow Molding Machine Market over the forecast period.
The PET Stretch Blow Molding Machine Market is classified into technology type, orientation type, end-user industry, and geography. On the basis of technology type, the market is further segmented into single step and two step-based blow molding machines. Based on orientation type, the market is further categorized into linear and rotary. Further, based on the end user industry, the market is bifurcated into pharmaceuticals, food & beverages, personal care & cosmetics, and others. PET bottles are increasingly utilized in dairy products, beverages, and other industries such as personal care, cosmetics, and pharmaceuticals. The development of the end use industries like food and beverage, personal care, and cosmetics are contributing to the potential opportunity for the development of PET stretch blow molding machines market.
The growing consumer preference and demand for convenient and packaged beverages such as drinking water, juices, and sparkling water are acting as major driving factors for the PET stretch blow molding machine market globally. Changing consumer lifestyles and focusing on easy-to-use containers are also having a positive impact on the market. Growing focus on product packaging is one of the prime parts of branding and marketing for attracting new customers, which is also driving the application of PET stretch blow molding machines globally. Thus, the growing demand for packaged drinking water and other beverages in the food and beverage industry is anticipated to drive the growth of the market globally.
The rising preference for green plastics is one of the prime factors estimated to boost the growth of the market at the global level. Numerous beverage manufacturers are attempting projects emphasizing manufacturing cost-effective and environment-friendly bio-based PET bottles to achieve substantial competitive benefits and to attract a substantial number of consumers. These containers or bottles are utilized for the packaging of soft drinks along with alcoholic beverages such as spirits, beer, and wine. Furthermore, there is a noteworthy application of these eco-friendly PET bottles in the consumer products industries and pharmaceutical products, which is projected to propel the evolution of the PET stretch blow molding machine market globally.
Key segments that contributed to the derivation of the PET Stretch Blow Molding Machine Market analysis are technology type, orientation type, and end user industry.
The geographic scope of the PET Stretch Blow Molding Machine Market report is mainly divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Europe dominated the PET Stretch Blow Molding Machine Market in 2023. The Europe region includes the UK, France, Italy, Russia, and Germany. The PET Stretch Blow Molding Machine Market growth in Europe is attributed to the growing development of food and beverages, personal care and cosmetics, pharmaceutical sectors are anticipated to drive the market in Europe. The demand for drinking water and sparkling water in Europe is having a positive impact on the market in Europe. Increasing consumer concerns about consuming contaminated tap water is one of the substantial factors driving the demand for bottled water in Europe since PET bottles are widely used in Europe, which is projected to propel the growth of the market in Europe.
The regional trends and factors influencing the PET Stretch Blow Molding Machine Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses PET Stretch Blow Molding Machine Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 1.35 Billion |
| Market Size by 2031 | US$ 2.28 Billion |
| Global CAGR (2023 - 2031) | 6.8% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Technology Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The PET Stretch Blow Molding Machine Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the PET Stretch Blow Molding Machine Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The PET Stretch Blow Molding Machine Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for PET Stretch Blow Molding Machine Market and strategies:
The “PET Stretch Blow Molding Machine Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas: