According to industry estimates, Square Media Bottle Market is predicted to witness a sound growth in the next decade i.e. 2021-2031. Square Media Bottle Market is anticipated to witness growth of 3% to 4% in forecast period.
Growth from end use applications like pharmaceutical industry, chemicals, food & beverages packaging industries have been attributed to propel the demand of square media bottle.
Square Media Bottles are economical and preferred for storing laboratory solutions. Design of this bottle has got an attention from designers as transportation of this bottles is very effectual in saving storage space resulting in increased shipment volumes.
Cost and environmental savings of squared media bottles is propelling the demand from end users. Customers are also getting attraction of such a bottles for the showing the brand recognition of their company. Unique shape of this bottles makes it distant from others bottles. The product is extensively used in the packaging liquid and solid formulations.
In recent years, demand of this bottles is expected to witness a surge along with increase in growth of healthcare industry. Focus on enhancing the sales and distribution network from the manufacturers further to boost the market. Design of custom designed square media bottle in terms of mouth opening, neck length, double layer insulation for improved protection and ergonomics in laboratory reagents, bio technology solutions is proving to be a value added proposition for the market participants.
Covid-19 pandemic has significantly impacted the supply and consumption rate of the product in the backdrop of auxiliary additives and solutions in vaccine formulation.
Though manufacturers have struggled a lot to meet the high demand from the customers due to disruptions in supply chain network, delay in raw material shipments in the initial phases, the gradual relaxation of lockdowns is anticipated to aid recovery as a result of the ever-increasing demand from the market.
North America is a prominent region in pharmaceutical market compared to other regions and expected to witness a satisfactory growth in terms of volume as well as value. Increased healthcare spending in North America region is propelling the reasonable growth of the market.
According to the Organization for Economic Co-operation and Development (OECD), the U.S. was the country with the highest per capita healthcare spending totalling US$ 11,072 Mn in the year 2019.
Also, technological developments carried out from regional manufacturers to use optimistic material for bottles will be a boon to the market. High penetration of pharmaceutical industries in North America region is demanding more no square media bottles for packaging applications. Environmental concerns in North America region is supporting the use of square shaped glass bottles.
Cumulative growth in the end use industries of using square media bottles extensively from East Asian countries is estimated to propel the consumption of the square bottles.
Different initiatives taken from East Asian countries concerning of environment safety expected to boost the potential of square media bottle market for domestic as well as export markets i.e. Europe.
East Asia is the one of the noticeable region for chemical market. Further, in chemical industries square media bottles are used widely for mixing, sampling and other applications.
Moreover growth of East Asia square shaped bottle market is strongly associated with East Asia chemical Market.
Some of the leading manufacturers and suppliers of the product include
Many leading manufacturers and supplier have longstanding contracts with end-users to supply Square Media Bottle. Further, manufacturers are focused on establishing their manufacturing facilities in the countries such as UK, USA, and China to cater increasing demand in the region.
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.
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Square Media Bottle Market
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