Bottle Sealing Wax Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3602
Bottle Sealing Wax Market is growing rapidly due to growing product demand in the packaging of alcoholic beverages and cosmetics. Additionally, rising spending income coupled with the shifting consumer trend towards better packaged product will drive the demand of bottle sealing wax.
Wax sealings for bottles have been used traditionally to maintain the flavor & freshness of the product for longer period and to warrant the product safety. The application of bottle sealing wax is not only restricted to alcohol beverages, but can also be used for sealing syrup, honey, perfumes, sauce, oil, etc. Being a packaging material approved by FDA, bottle wax sealing is now emphasized for branding of the product. It is available in various color grades which provides a choice of matching the color of bottle, label and seal to ensure a premium-look. Manufacturers also provide variations for embossing wax with image or logo to provide a personalized look to the product. Product innovations in the market such as “CalGlo” bottle sealing wax product line, which glows in the dark, provides a differential look to the product and will prosper the development of bottle wax sealing market.
People in developed and developing countries are moving towards the usage of premium packaged products. This trend is primarily dictated by the rising disposable income of the people. Another vital factor promoting the bottle sealing wax market growth is the ease of availability of wax sealing materials, owing to the rapid development in the retail sector with regard to hypermarket, supermarket and e-commerce. Apart from that, bottle sealing wax can be easily opened without any crack or crumble, which enhances the overall handling efficiency of the product and will drive the product demand in near future.
Increasing demand for alcoholic beverages will drive the growth of bottle sealing wax. It can be attributed to the increasing youth demography in alcohol consumption, higher visibility along with attractive product assortment, easy product availability, increasing disposable income and trend shift to premium alcohol products.
However, volatility in the raw material prices might hamper the market growth. In addition to this, availability and extensive use of cap liners and further development in the anti-counterfeit solutions for packaging will also hinder the growth of bottle sealing wax market.
Bottle sealing wax market is segmented based on the product type, applications and region. Based on product type, market is segmented into bricks and beads. Based on application, the market is segmented into liquors, cosmetics and others which includes syrup, sauce, oil, etc. Bottle sealing wax is majorly used in the sealing of liquors. Many top end whiskey, beer, gin, and wine brands are looking to provide eye-catching appearances to their products by using customized bottle sealing wax. It not only provides a tight sealing to the bottle but also ensures protection of the cork from damped air.
Based on region, the market is segmented into Europe, North America, Asia Pacific, Middle East & Africa, and Latin America. The regional segment will be dominated by North America and Europe region due to high standard of living and higher disposable incomes. European countries are known for higher alcohol production consumption levels which will drive the regional bottle sealing wax market. Asia Pacific region is likely to witness a high growth rate in the coming years due to extensive use of wax in the rapidly growing regional packaging industry along with escalating retail sector.
Some key market players of bottle sealing wax market the Darent Wax Co. Ltd, Australian Wax Company, Brick Packaging, The British Wax Refining Co. Ltd, Southwest Wax LLC, Blended Waxes, Inc., GW Kent, Oakbank Products Ltd, Tabo, Calwax, LLC, Cortica Benicia and Jax Wax.
Bottle Sealing Wax Market, By Product type, 2014-2025 (USD Million)
Bottle Sealing Wax Market, By Application, 2014-2025 (USD Million)
The above information has been provided for the following regions and countries:
- North America
- South Korea
- Latin America
- South Africa
- Audi AG
- The Darent Wax Co. Ltd
- Australian Wax Company
- Brick Packaging LLC
- Southwest Wax LLC
- Blended Waxes, Inc.
- GW Kent
- Oakbank Products Ltd
- The British Wax Refining Co. Ltd
- Calwax, LLC
- Cortica Benicia
- Jax Wax Pty Ltd.
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