Sustainable Packaging to Proliferate the Growth of the Global Blow Molded Containers Market
The key market players in the blow molded containers market are focusing on technological advancements, product innovation, and adoption of recyclable and sustainable packaging solutions. These strategies help them to cater to the ever-changing dynamics in the packaging industry, which is bound by a number of regulations. Regulation and enforcement laws in the use of plastic have impacted the overall packaging industry, demanding more sustainable packaging solutions, thereby, pressurizing manufacturers to invest heavily in developing biodegradable and economical packaging solutions.
Fact.MR’s study predicts the global blow molded containers market to witness an average annual growth of approximately 5.7% during the long-term forecast. The market continues to witness the augmented demand for sustainable food & beverage packaging applications across the globe. The global packaging industry has witnessed a healthy growth driven by the shift in consumer preferences, expansion in new markets, and growing retail and e-commerce channels. Attention-grabbing changes include increased use of plastic as an alternative to replace other substrates and accommodate consumer’s changing preferences, the booming economy of developing regions such as China and India, healthier industry consolidations, and growing private-equity ownership.
According to the FACT.MR study, the food & beverage industry accounts for over 70% of the global blow molded containers market owing to changing consumer preferences of more convenient and eco-friendly packaging solutions. Fast-paced consumer lifestyle is inducing high demands for more packaged food, which are ready-to-eat and easy-to-make. Increasing demand for convenience and changing dietary patterns of consumers are creating need for sustainable food packaging solutions. These varying consumer preferences have resulted in a variety of innovation and product development in the food & beverage packaging industry. Plastic containers can improve the shelf life of the food product while ensuring their safety during transportation. The staggering growth of the global food industry and versatile advantages of plastic packaging solutions are expected to prove beneficial for blow molded plastic containers manufacturers around the globe. Growing demand for single-sized plastic containers for packaged food products is expected to drive the growth of the global plastic containers market in the upcoming years.
Biodegradable Plastic Solutions for a Circular Economy
Increasing concerns over degradation of the environment due to excessive use of plastic are leading to the rising adoption of recyclable or biodegradable plastics. As most governments across the globe have enacted stringent regulations and imposed bans on the use of plastic for packaging, the majority of the manufacturers are using compostable alternatives for plastic. On account of its versatile benefits, many governments have developed policies and standards to encourage manufacturers to replace conventional plastic with recyclable plastic, especially in the packaging industry. For instance, Grief Inc. offers reconditioned & remanufactured plastic containers made by 75% recycled HDPE obtained by the post-consumer containers. As an effect of the rising awareness towards government policies and environmental consciousness among consumers, plastic containers manufacturers are shifting to recyclable and compostable plastic over conventional plastic. The key regulatory policies have also introduced the use of bioplastic in a number of plastic applications. In the short-term forecast, the packaging industry should account for about 60% of the bio-plastics market. The global bioplastics market stands at a little over a million tons, registering double-digit growth in the short-term forecast.
E-commerce, Logistics, and SKU Proliferation Shaping the Market Dynamics
Fact.MR has witnessed a massive growth in e-commerce and direct-to-consumer shipping methods. Owing to the changing purchasing habits of consumers, and increasing popularity of e-commerce, shipping, transportation processes have undergone some radical changes over the past few years. According to the study, online sales channels have grown over 15% from other sales channels. The changing consumer preferences for more customized, affordable, and convenient packaging have also contributed to the proliferation of stock-keeping units (SKU). These trends have demanded more secured and advanced packaging solutions, and have also led to various changes in the packaging solutions as per the end-use requirement. Packaging engineers around the world are trying to achieve the most sustainable design of plastic containers by understanding and identifying the method of shipping. Prior to designing the plastic containers, having complete knowledge of all steps of transportation, and efficient shipping of the product has become the primary need for packaging engineers and manufacturers to fulfill. Thus, changing supply chain dynamics and increase in SKU units have increased the demand for blow molded containers.
Owing to the increasing demand for blow molded containers, key players are strategically expanding their production capacity to meet the growing needs of the market. Manufacturers have expanded their R&D facility to cope up with the government policies and remain competitive in the ever-increasing global market. The companies are also entering into a long-term partnership with end-use industries, raw material suppliers, and global players, to have a strong presence in the worldwide market. For instance, Grief Inc., a manufacturer of industrial packaging, has partnered with a global chemical manufacturer such as Solvay to provide economical packaging solutions.
Plastipak Holdings Inc., a manufacturer, and distributor of plastic containers has acquired the U.S. assets of Constar International Holdings LLC, a Philadelphia-based manufacturer of food and non-food packaging. The company also acquired APPE, a manufacturer of PET packaging products. The acquisition amounted to 360 Mn Euros giving access to APPE’s nine manufacturing plants in Europe, Asia, and North Africa, further strengthening the company’s position in the rigid packaging market.
RETAL Industries Ltd., a global manufacturer, and supplier of the PET preforms, plastics closures, containers, and BOPET films have expanded its R&D center in Luxembourg. The facility is equipped with high energy-saving and eco-friendly technologies including advanced chilling systems, dryers with heat pumps, and machinery with electric clamps. The company has also started its operation at Donora, U.S.
Amcor Limited manufacturer, supplier, and developer of flexible and rigid plastic products, has acquired Bemis Company, Inc. and Sonoco Products Company to strengthen its position in the packaging industry. Moreover, the company has expanded its PP bottle, extrusion blow molding capacity in the U.S. and Canada for the food and supplements packaging.
Mauser Group B.V., a manufacturer of industrial packaging, started three production lines in St Priest, France in 2017.
Few of the other companies in the blow molded containers market are also involved in the product innovation, expansion of product line, and collaboration with industry giants and end users to strengthen their position in the market.
Stringent Regulatory Policies Will Continue to Spur the Demand for Blow Molded Containers in the Regional Markets
Trends and regulatory policies for the packaging industry differ in every region impacting the overall blow molded containers market globally. Plastic packaging manufacturers have to abide by EU regulations that restrict single-use plastic products and move towards a sustainable packaging industry by the end of 2030. The entire value chain has to be aligned effectively to succeed in the long term. The EU has been urging and investing in newer technologies for plastic recycling and developing bio-based plastics.
The Asia Pacific region accounts for the majority share in the global blow molded containers market. China and India together account for over 35% of the worldwide population. With a vast population and lower per capita plastic consumption as compared to the Western Countries, these countries will register higher growth rates in plastics processing markets. Overall, Greater China has been a manufacturing hub in the region with focus increasing towards other Asian countries such as India. India is forecast to register the highest growth in the region, whereas Greater China will account for the major share. Japan, on the other hand, has accounted for a mere single-digit share in the market owing to the domestic beverage manufacturers having a stronghold in the market along with foreign manufacturers. Kirin, Asahi, Suntory, Sapporo, Calpis, Itoen, Nestle Coca-Cola are some of the companies present in the country. Personal care and pharmaceutical industries are projected to grow in Japan, owing to its population demographics.
Europe, with the presence of stringent regulations on plastic usage, has positively influenced the overall market in the region. Moreover, there has been a shift in the manufacturing sector towards Central & Eastern European countries such as Poland, Russia, Hungary, and Czechia. The EU-4 countries, Germany, France, Italy, and Spain will continue having a stronghold in the market during the forecast period with key manufacturing companies announcing blow molding capacity additions. The blow molded containers market has matured in North America, and witness a stable growth in the coming forecast period.
In the MEA region, Saudi Arabia, UAE, and Egypt are some of the major markets for blow molded plastic containers. Saudi Arabia is a major oil-producing country and also has enormous refining capacity with further expansions, and new capacities speculated to come up in the country. This would offer great avenues for plastic processing companies, including blow molding. Turkey is another growth attracting country. The blow molded containers market is forecast to grow at around 5% with rest of MEA, which includes a majority of African countries where per captain plastics consumption is on the lower end should push for major growth with increasing product penetration.
Blow Molded Containers Market- Global Industry Analysis
The recent study by Fact.MR on blow molded containers offers a 10-year forecast for blow molded containers between 2019 and 2029. The study analyzes crucial trends that are currently determining the growth of the blow molded containers market. This report explicates on vital dynamics, such as drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with the manufacturing of blow molded containers. The study also provides dynamics that are expected to influence the future status of the blow molded containers market over the forecast period.
A detailed assessment of blow molded containers value chain analysis, business execution, and supply chain analysis across the regional markets has been covered in the report. A list of prominent companies operating in the blow molded containers market, enhances the reliability of this comprehensive research study.
Blow Molded Containers Market: Report Summary
The study offers a comprehensive analysis on diverse features including demand, product developments, policy & regulatory landscape, revenue generation, and sales in the blow molded containers market across the globe.
A comprehensive estimate on the blow molded containers market has also considered the market estimates through an optimistic scenario, and a conservative scenario regarding the sales of blow molded containers in the forecast period. Price point comparison by regions with global average price is also considered in the study.
Blow Molded Containers Market Segmentation
Fact.MR has studied the blow molded containers market with detailed segmentation on the basis of material, product, sales channel, end-use industry, and key regions.
Bottles & cans
Jugs & Jars
Cosmetics & Personal Care
Household, homecare & Toiletries
Blow Molded Containers Market: Analysis on Market Size Evaluation
A detailed analysis has been provided for each market segment, in terms of volume (Tons) and value (US $ Mn) for blow molded containers.
Market estimates at global and regional levels for blow molded containers, is available in terms of “US$ Mn” for value and in “tons” for volume. A Y-o-Y growth contrast on prominent blow molded containers market segments, along with the market attractiveness evaluation has been incorporated in the report. Another key feature of the blow molded containers market report is the analysis of all key segments in terms of absolute dollar. Absolute dollar opportunity is critical in assessing the level of opportunity that a manufacturer can look to achieve, as well as in identifying potential resources, from a sales and delivery perspective in the blow molded containers market.
Blow Molded Containers Market: Inspected Assessment on Regional Segments
Key sections have been elaborated in the blow molded containers report, which helped to deliver projection in regional markets. These chapters include regional macros (political economic, and business environment outlook), which are expected to have a momentous influence on the growth of the blow molded containers market during the forecast period.
Country-specific valuation on demand for blow molded containers has been offered for each regional market, along with the market scope estimate and forecast, price index, and impact analysis of dynamics of prominence in regions and countries. For all regional markets Y-o-Y growth estimates have also incorporated in the report.
Detailed breakup in terms of value & volume for emerging countries have also been included in the report.
Blow Molded Containers Market: In-depth Analysis on Competitive Landscape
The report sheds light on leading manufacturers of blow molded containers along with their detailed profiles. Essential and up-to-date data information related to the market performers, who are principally engaged in the production of blow molded containers, has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report, permit report readers to take preemptive steps in advancing their businesses.
Company profiles have been combined in the report, which include essentials such as product portfolio, along with an all-inclusive SWOT analysis on each player. The company presence is mapped and presented through the matrix for all prominent players thus providing readers with actionable insights, which help in thoughtfully presenting market status, and predicting the competition levels in the blow molded containers market. Prominent companies operating in the global blow molded containers market, include Amcor Limited, RETAL Industries Ltd., Alpha Packaging, Plastipak Holdings, Visy, amongst others.
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