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.
blow molded containers market during the stated forecast tenure.— Fact.MR has recently published a latest assessment titled “Blow Molded Containers Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2019 to 2029”, which discourses prime facets associated to the global blow molded containers market. At present, the proliferation of sustainable food & beverage packaging applications at the global scale has been conveniently supporting sales of blow molded containers. Furthermore, the report predicts an average annual growth of roughly 5.7% in the global
According to research insights, several key players in the blow molded containers market have escalated their efforts to cater technological advancements and product innovation. In addition, adoption of recyclable & sustainable packaging solutions is another major development that is viewed to support market growth for blow molded containers. The study is a well-researched data source which delivers specifics associated to market size (US$ Mn), absolute $ opportunity, supply chain analysis, Porter’s analysis as well as market dynamics comprising of drivers, trends, restraints and opportunity. Therefore, it proves beneficial to stakeholders and new investors to plan future strategies without much limitation.
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Shifting Consumer Inclinations in Food & Beverage Industry Likely to Impact Global Sales
As per this FACT.MR study, the food & beverage industry records more than 70% of the global blow molded containers market due to shifting consumer preferences towards suitable and eco-friendly packaging solutions. Furthermore, fast-paced consumer lifestyle is prompting high demands for packaged food that primarily covers easy-to-make and ready-to-eat options. Such fluctuating consumer preferences have led to product development merged with innovative approaches across the global food & beverage packaging industry. This paves a sturdy path for blow molded containers that have been acknowledged as efficient packaging solution utilized across the food & beverage sector.
Biodegradable Plastic Solutions for a Globular Economy
There have been growing concerns associated to environment degradation due to extreme use of plastic, which has motivated the adoption of biodegradable or recyclable plastics. It has been noticed that governments all over the world have sanctioned stringent regulations which includes rigid ban on the use of plastic packaging. Numerous manufacturers have therefore obeyed these actions and are using compostable substitutes for plastic. The use for recyclable plastic over conventional plastic is trending and is expected to effect the global blow molded containers market. As per the short-term forecast, the packaging industry is anticipated to account for approximately 60% of the bio-plastics market.
Report Analysis of Global Blow Molded Containers Market research report Segmented By Material Type (PET, HDPE, Polypropylene, Polystyrene, PVC, LDPE, Polycarbonates, Other Plastics), By Product Type (Bottles & Cans, Jugs & jars, Vials, Drums, Pails, IBCs, Water Tanks), By End-Use Industry (Food, Beverages, Cosmetics & Personal Care, Household, homecare & Toiletries, Pharmaceuticals & Medical, Chemicals & industrial, Others), By Sales Channel, & by Region-
Asia Pacific Set to Register Dominant Market Share
With a stern emphasis on the geographical outlook, Asia Pacific is recorded to acquire major share in the global blow molded containers market. Since, China and India together exhibit more than 35% of the global population, these nation will register advanced growth rates in plastics processing markets. To be precise, Greater China has been operating as a manufacturing hub across this region, whereas other Asian countries like India, are also showcasing higher prospects during the coming years.
The final section of the report is dedicated to outline the competitive outlook related to the global blow molded containers market. Some of the leading players discoursed in the report include names like APEX Plastics, Inpress Plastics Ltd., Plastipak Holdings Inc., Visy Packaging Pty. Ltd., C.L. Smith Company, 3P Gulf Group etc.
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