According to latest research study by FMI, balsam bottle business is set to grow at a CAGR of over 5.4% during 2021-2031. The product is gaining high traffic from the end-use industries such as laboratories, where they are used to stores Canadian balsam due to its high volatile nature.
Furthermore, the increasing inclination of people towards balsam essential oil and its products has led to increased demand for balsam bottles. In the coming years this demand is anticipated to skyrocket and will support the overall business. It is expected that during the balsam bottle business will grow at a rate of 1.7X during the forecast period.
Get a Sample PDF of the Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-13383 a
Growing Demand for Canadian Balsam Essential Oil is Likely to Bolster Balsam Bottle Sales
The per-capita expenditure on personal care and wellness products is increasing in developed nations. In the North America per-capita expenditure on personal care and cosmetics is more than US$ 130 where as in Europe it is over US$ 151. The people in these region are readily investing for new personal care and well products.
The growing awareness of people in these regions on benefits of Canadian balsam based essential oil has led to increased demand of it. With such a demand the personal care manufacturers are have scaled their production of Canadian balsam essential oils and this in turn has lifted the requirement of balsam bottles.
During the forecast period the growth in Canadian balsamic essential oil business is set to bolster balsam bottles business and is anticipated to create an absolute dollar opportunity of more than US$ 50 Mn.
Asia Pacific Demand Outlook for Balsam Bottle
Asia Pacific is one of the strategic region in balsam bottle market. The region accounted for more than 30% of the global sales, with a projected CAGR of over 4.8% in 2020. The growth of the product in the region is due presence of high number of personal care and cosmetics industry.
Also, the domestic end-use of balsam bottle to be used for olive oils and related application is at higher side. In addition, the number of laboratory goods manufacturers in the region are also large in number and most of them are either manufacturing or re-selling these bottles and so are supporting the sales of the products.
Owing to aforementioned factors. It is anticipated that Asia Pacific region will gain over 100 BPS in its value share by the end of 2031.
The COVID-19 pandemic has a significant impact in the sales of cosmetics and personal care industries. This in turn have affected the sales of balsamic essential oils and reflected a negative V-curve in regional business.
The cases being reduced in various countries across the regions is in turn supporting the recovery of the product sales. It is expected that by Q2 of 2022, the demand for the product will regain its historical curve creating new opportunities for the regional manufacturers.
- Below 60 ml
- 60 ml
- 100 ml
- 250 ml
- 500 ml
- Above 500 ml
By Material Type:
- Lime Glass
- Borosilicate Glass
- Domestic Use
- Commercial Use
- Personal care Manufacturers
- Diffusers Manufacturers
Access Full Report@ https://www.futuremarketinsights.com/reports/balsam-bottle-market