Future Market Insights
Over the last few years, packaging solutions have made progress in terms of appearance, features, colors, and convenience. The primary purpose of packaging is to protect and preserve the product from any type of harm during the course of transit, consumption, and storage. Bottle sealing wax is a kind of packaging solution that has been traditionally used to keep products fresh for a longer period of time and to ensure that there is no scope for tampering or doctoring. However, these days, bottle sealing wax is primarily used for branding. Bottle sealing wax is actually an FDA-approved material for packaging. It does not only protect a product from deterioration, it also adds to the presentation of it. Bottle sealing wax is largely used as an aesthetic choice which creates an ultra-premium look for the product. This sealing wax is available in more than 300 standard colors -- the availability of varieties in color allows manufacturers to match color of the wax with the bottle or label design. In addition to this, brand owners and manufacturers can also enhance their branding by embossing their logo, image or brand name on the bottle. The bottle sealing wax provides a protective closure to the product. It gives a vintage feel and polished look to the product without the use of pricey components or materials.
Bottle Sealing Wax Market – Market Segmentation:
The global bottle sealing wax market is segmented on the basis of product type, packaging type, and end use type. On the basis of product type, the global bottle sealing wax market is segmented into beads and bricks. On the basis of packaging type, the global bottle sealing wax market is segmented into manual sealing and machine sealing. On the basis of end use, the global bottle sealing wax market is segmented into alcoholic beverages and beauty care products. It is expected that the alcoholic beverages industry will take a huge market share of the global bottle sealing wax market as wax sealed bottles reflect the craft and character of beverages and thus, are perfect for the industry. Sealing wax is considered as the most suitable accent for spirits, wine, and beer.
Bottle Sealing Wax Market – Market Dynamics:
One of the significant factors that will contribute to the growth of the global bottle sealing wax market is the increasing disposable income of the middle income group and the developing tendency amongst high net-worth individuals to use premium packaged products. Another important factor that will contribute to the growth of the global bottle sealing wax market is the ease in availability of sealed wax products. This has been made possible by the progress made by the retail sector in terms of supermarket, hypermarket, and e-commerce. In addition to this, the handling efficiency required to open bottles without knives or cutter and with no foil cuts on the bottle will drive the growth for the global bottle sealing wax market. In addition to this, the introduction of a new line of bottle sealing wax referred to as “CalGlo” is also expected to drive growth for the global bottle sealing wax market. CalGlo wax glows in the absence of light which essentially sets apart the product from its competitor. However, the wide usage and variety of cap liners are expected to hinder the global bottle sealing wax market. Though the sealing wax is waterproof in nature, it is not waterproof against the action of alcohol which makes the sealing wax soft which results in dropping off of sealing wax. Moreover, additional cost to manufacturers and retailers in order to provide proper storage facility is expected to hamper the growth of the global bottle sealing wax market as the bottle sealing wax is too sensitive to climate influence and temperature variation. Furthermore, the technological advancement in terms of anti-counterfeit packaging solution is also expected to hinder the growth of global bottle sealing wax market as the secondary purpose of sealing wax is to validate the authenticity of the product.
Bottle Sealing Wax Market – Regional Outlook:
Geographically, the bottle sealing wax market can be segmented into North America, Latin America, Europe, Asia Pacific (APAC), and Middle East & Africa (MEA). The growth of the global bottle sealing wax market is expected to witness a steady CAGR over the forecast period of 2016-2024. North America is expected to be the biggest contributor in terms of value and volume. This will be made possible primarily by the increased disposable income as well as the growing standard of living. Moreover, the rise of the retail sector in India and China is expected to account for a significant market volume share of the global bottle sealing wax market in the Asia-Pacific region. These lucrative economies will contribute fairly to the growth of global bottle sealing wax market. Europe, on the other hand, is expected to occupy a significant market value share of the global bottle sealing wax market. This will be made possible by the huge consumption of alcoholic beverages.
Bottle Sealing Wax Market- Major Players:
Some of the major players identified across the globe in the bottle sealing wax market are
The British Wax Refining Company Ltd, Blended Waxes, Inc., Southwest Wax LLC, Oakbank Products Limited, The Darent Wax Company Ltd, Australian Wax Co, Brick Packaging LLC, Calwax, LLC, City Company Seals Ltd, and Jax Wax Pty Ltd.
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