Balsam Bottle Market Overview
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.
What is Driving Demand for Balsam Bottle?
The Canadian balsam also called as Canadian turpentine is a resin extracted from balsam fir tree. These are used in various personal care & cosmetics and medicines due to their myriad health benefits. They are used to cure hemorrhoids, sore, cuts, tumors, inflammation and many more related health issues.
Also, Canadian balsam have uses in laboratories, they are used as mounting medium in microscopy application for the preparation of permanent slides.
With these many applications of Canadian balsam the need of its storage has been a major concern of users, as it is very volatile in nature and gets easily dissolved in the air when kept openly in the atmosphere. Also, it gets solidified or amorphous when exposed to excess air.
Thus, balsam bottles are used in order to prevent such exposures to the Canadian balsam. The balsam bottle are clean air tight glass bottle specially used for storing Canadian balsam. Nowadays, they are also being used in domestic application due to its aesthetical appeal and so its demand from domestic end-use is also increasing.
In the coming 10 years higher inclination of the Canadian balsam products will complement the growth of balsam bottles.
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.
North America Balsam Bottle Market Outlook
The North America is one of the prominent region in global balsam bottle market. From the past half-decade the regional business grew at a rate of 1.2X owing to higher demand from laboratories and personal care industries in the region.
Regional population is more inclined towards using Canadian balsam oils and products and this has led to higher demand of its products in oils and cosmetics. The personal care manufacturers are requesting for customized balsemic bottles for their products and are readily trading for it. This has been converting into newer business opportunities for the regional manufacturers.
The US has been one of the top contributor for the region’s demand. In the country there are about more than 13,500 chemical manufacturing units all of which use Canadian balsam as mounting medium in microscopy process and so store it in balsam bottles.
Thus, the demand from these laboratories has been one of the prime reasons for higher sales of this product in the region. It is expected that during the forecast period the regional market will grow at a rate of over 1.5X, projecting a CAGR of 5.1%.
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.
Who are the Key Manufacturers and Suppliers of Balsam Bottle?
- DWK Life Sciences
- Daigger Scientific
- Karl Hecht
- TED PELLA, INC
- Xuzhou Credible Glass Products Co., Ltd.
- Xuzhou Junding Glass Products Co., Ltd.
- WUHAN QH BOTTLES CO., LTD.
- Guangzhou Junyue Packaging Products Co., Ltd.
Competition is partially consolidated with a selective number of players controlling the overall business. Since, the business is new most of the players involved are practicing organic strategies such as product launch. Also, players are focusing towards strengthening their supply chain network in order to cater the growing demand for the product from various end-use industries.
The pre-established players are collaborating with the end-users directly for continuous business opportunities. For new player to get in the business this is the right time as competition is very less and the demand is growing at a higher pace. Entering in the business with new variety of bottles with reduced price will benefit the end-user in grabbing new business deals during initial years.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
- 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
By Sales Channel:
- Convenience Store
- Specialty Stores
- Super and Hyper Markets
- Company websites
- Third Party E-Commerce Sales
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Argentina & Rest of Latin America
- Germany, France, Italy, Spain, U.K., Benelux, Russia, and Rest of Europe
- East Asia
- China, Japan, South Korea
- South Asia
- India, Thailand, Malaysia, Indonesia and Rest of South Asia
- Australia and New Zealand
- Middle East and Africa
- GCC Countries, Turkey, South Africa, and Rest of Middle East & Africa