Bottle Sealing Wax Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI3602
Bottle sealing wax market is expected to grow at a steady rate during the analysis period 2021-2027. The major factor driving the industry forward is the increasing product application in the packaging of alcoholic beverages and cosmetic products. Continuous technological advancements and innovations in product design will fuel the market growth. This type of wax is primarily used to seal liquor bottles during packaging. It can also be used for numerous other bottle sealing applications such as cosmetic products, perfumes, and food & beverage products such as honey, syrups, and sauces.
Bottle sealing wax helps maintain the quality of the packaged product and improves its shelf life by creating a strong moisture barrier, keeping contaminants out, and offering a long-lasting seal. It also allows for easy removal and helps manufacturers customize the bottle exterior.
Considering the applications, the cosmetics segment could account for a notable share of global bottle sealing wax market through 2027. The rise in the disposable income levels of consumers and the demand for premium-quality cosmetic & personal care products is prompting manufacturers to invest in high-quality packaging and labelling, thereby augmenting the substance demand. Wax seals help maintain optimum product quality and extend shelf-life.
In terms of regional performance, North America bottle sealing wax industry size is projected to grow substantially throughout the forecast period 2021-2027. The rise in alcohol consumption is a pivotal factor driving the regional product demand. The consumption of alcoholic beverages has increased significantly during the ongoing COVID-19 pandemic. These factors along with the increasing demand for high-quality cosmetic and personal care products will create promising opportunities for the regional manufacturers.
Australian Wax Company, GW Kent, The British Wax Refining Co. Ltd, Blended Waxes, Inc., Jax Wax, Cortica Benicia, Calwax, LLC, Tabo, Oakbank Products Ltd, Southwest Wax LLC, Brick Packaging, and Darent Wax Co. Ltd are some of the prominent names in the bottle sealing wax industry.
The market players are adopting different growth and expansion strategies to improve their product portfolio and stay ahead of the competition. Some of these strategies include collaborations, mergers, and acquisitions. The manufacturers are also investing heavily in research and development to bring new, improved solutions to the market. Continuous innovative efforts by bottle sealing wax manufacturers and the introduction of new liquor and cosmetic products will positively impact the industry scope.
Impact of COVID-19 on bottle sealing wax industry trends
During the COVID-19 crisis, the bottle sealing wax market has experienced slight disruption due to supply chain concerns, workforce shortages, and the overall economic slowdown. However, in many regions, an uptick in alcohol sales through online channels has been witnessed. In the U.S., for example, the consumption of alcohol among adults increased by more than 14% in 2020 triggered by the COVID-19 pandemic, according to a study by the American non-profit organization RAND Corporation. Consequently, the rise in liquor bottle packaging has created positive opportunities for bottle seal wax manufacturers. Further, increased online sales of cosmetic and personal care products has supported the use of the material.
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