According to the report titled ‘Global Stretch Blow Molding Machine Market Size study with COVID-19 Impact, by Type (Automatic Type, Semi-automatic Type), by Application (Food & Beverage Industry, Personal Care Industry, Pharmaceutical Industry, Others) and Regional Forecasts 2020-2027’, available with Market Study Report, global stretch blow molding machine market was worth USD 2.18 billion in 2019 and is expected to register y-o-y growth rate of 0.7% during 2020-2027.
 

Rising demand of plastic bottles for packing juices, fruit crushers, water, and other food & beverages is primarily driving the growth of global stretch blow molding machine market.
 

Notably, in producing plastic bottles and other plastic containers, stretch blow molding machines are used. Melted plastic is given as an input to the system that produces output as bottles and containers. The mold that is then preheated in stretch blow molding machine and processed to make bottles.
 

Manufacturers are concentrating on introducing lightweight packaging due to ease of transportation, a shift, in turn, has been witnessed from glass to plastic material, facilitating the business scenario. Growing consumer preference for bottled water is impelling global stretch blow molding machine market size.
 

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With lockdowns enforced almost everywhere in the world due to the COVID-19 pandemic, people are staying at home and therefore the intake of bottled water has been limited. Manufacturers, however, are concentrating on technological advances for product improvement by incorporating machine tools, resulting in high-quality goods.
 

Citing an instance, KHS GmbH has released a new KHS InnoPET Blomax Series V machine that can generate 9,000 bottles of PET (polyethylene terephthalate) per hour and is a very powerful stretch blow molder. Moreover, key players are undertaking mergers & acquisitions, thereby augmenting global stretch blow molding machine industry share.
 

Citing regional landscape, worldwide stretch blow molding machine market is segmented into Latin America, Europe, North America, Asia Pacific, and Rest of the World. The report states that North America currently holds considerable share of the overall market and is expected to expand further over the assessment period, owing to high consumption of bottled water in the region.
 

Meanwhile, Asia Pacific stretch blow molding machine industry is expected to register decent growth over the analysis period, on account of numerous startups and shifting preference of youngsters towards use of plastic bottles.
 

Major contenders impacting global stretch blow molding machine market trends are KHS GmbH, Coveris Holdings Inc., American Eagle Packaging Corporation, Bonset America Corporation, Allied Global Plastics Private Limited, Sigma Plastics Group, Bollore Inc., Bemis Company Inc., AEP Industries Inc., and Berry Global Inc.