Blow Molded Containers Market to Surpass US$ 185 Billion in 2018, Finds a New Fact.MR Study
ROCKVILLE, Maryland, October 4, 2018 /PRNewswire/ --
The broader trends impacting the packaging industry are also influencing the dynamics in the blow molded containers market. Global demand for blow molded containers is likely to reach nearly 33,000 kilo tons by 2018-end, equaling a market value of over US$ 185 billion. These insights are according to a latest market research study by Fact.MR.
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A wide-range of discrete aspects, ranging from shift toward sustainability to rising demand for puncture-resistant packaging solutions, are likely to underpin the growth of blow molded containers market during the assessment period. Demand for blow molded containers continues to be influenced by their resistance to abrasion and high recyclability. Growing popularity of single-serve beverages and convenience foods is also likely to create sustained opportunities for blow molded containers market players during the assessment period. The report opines that market players offering customized and proprietary containers in a wide-range of shapes are likely to achieve long-term customer retention.
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The report finds that blow molded PET containers continue to be the top-selling product type in the market. The high demand for PET bottles in the blow molded containers market can be attributed to cost savings and growing focus on sustainable packaging. Demand is also likely to be healthy for HDPE containers owing to high rigidity and excellent barrier properties.
According to Fact.MR, blow molded containers will continue to witness steady demand in the manufacture of bottles and cans. The rising popularity of single-serve beverages and liquid supplements is significantly contributing to the overall demand for bottles and cans. Jugs and jars segment is further likely to trail the former in terms of adoption rate and is highly likely to introduce lucrative avenues for the stakeholders of blow molded containers market.
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As per the research study, the tier 2 players in the blow molded containers market are focusing on introducing new products with advanced features and providing economical alternatives to consolidate their market stronghold. Furthermore, the tier 3 players in the blow molded containers market are focusing on gaining much-needed recognition in the marketplace and are investing on devising robust marketing strategies to achieve the same. The report also enunciates about key differential strategies adopted by the market players of blow molded containers in a bid to gain competitive advantages. Emphasis on vertical integration and use of bio-plastics are outlined as some of the key strategies adopted by the stakeholders of blow molded containers market.
The report opines that the advent of advanced technologies, such as 3-D printing and accumulator head blow molding technique, are likely to diversify growth trajectory of the industry. While diverse regulations and legislations will continue to govern the market space, blow molded containers with quality assurances such as Food Safety HACCP-9000 will gain substantial prominence, unveils the report. The report also states that the blow molded containers market might be subjected to intense competition from alternative packaging solutions such as liquid cartons, plastic pouches, which might confine the adoption rate of blow molded products across the globe.
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