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.
PET Stretch Blow Molding Machine Market Analysis
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.
PET Stretch Blow Molding Machine Market Overview
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.
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PET Stretch Blow Molding Machine Market: Strategic Insights
Market Size Value in US$ 1.03 Billion in 2019 Market Size Value by US$ 1.36 Billion by 2027 Growth rate CAGR of 3.5% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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PET Stretch Blow Molding Machine Market: Strategic Insights
| Market Size Value in | US$ 1.03 Billion in 2019 |
| Market Size Value by | US$ 1.36 Billion by 2027 |
| Growth rate | CAGR of 3.5% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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PET Stretch Blow Molding Machine Market Drivers and Opportunities
Increasing Consumer Preference for Convenient and Packaged Beverages is expected to be the Prime Driver for the PET Stretch Blow Molding Machine 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.
Growing Preference for Bio-based PET Bottles
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.
PET Stretch Blow Molding Machine Market Report Segmentation Analysis
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.
- Based on technology type, the market has been divided into single step and two step. The two step segment held a larger market share in 2023.
- In terms of orientation type, the market has been segmented into linear and rotary. The rotary segment dominated the market in 2023.
- In terms of the end user industry, the market has been segmented into food and beverages, pharmaceuticals, personal care and cosmetics, and others. The food & beverage processing segment dominated the market in 2023.
PET Stretch Blow Molding Machine Market Share Analysis by Geography
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.
PET Stretch Blow Molding Machine Market Report Scope
PET Stretch Blow Molding Machine Market News and Recent Developments
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:
- On April 2024, Krones sealed an agreement to acquire a 45% equity stake in Perfinox Industria Metalurgica S.A. The acquisition is anticipated to strengthen Krones’ diversification & resilience in the Process Technology segment. (Source: Krones, Press Release/Company Website/Newsletter)
- On March 2024, Krones acquired injection molding technology company Netstal. (Source: Krones, Press Release/Company Website/Newsletter)
PET Stretch Blow Molding Machine Market Report Coverage and Deliverables
The “PET Stretch Blow Molding Machine Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles with SWOT analysis
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Technology Type , Orientation Type , End-User Industry and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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