Blow Molded Containers Market, Share, Emerging Trends, Analysis and Forecasts to 2029

Posted on 2019-09-25 by Mark Hub in Retail // 0 Comments

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.

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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.

Changing Consumer Trends in the Food & Beverage Industry to Bolster Global Sales

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.

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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.

Capacity Expansion and Acquisitions Remain Winning Imperatives of Key Market Players

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.

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