The market for balsam bottles is predicted to reach a worth of US$ 1490 million by 2023, growing at a CAGR of 5.7% from 2023 to 2033. The market is anticipated to reach a market value of US$ 850.8 million in 2023. From 2018 to 2022, the Balsam Bottle market experienced growth at a CAGR of 4.2%. Canadian balsam oil is packaged in balsam bottles since it cannot be kept in other bottles due to its high volatility. Turpentine, often known as balsam oil, evaporates when maintained in an open setting.
Also, there is a greater need for balsam bottles due to the growing popularity of balsam essential oil and related products. This demand is expected to soar in the upcoming years, supporting the entire industry. The balsam bottle industry is anticipated to expand at a rate of 1.7X during the projected period.
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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.
Who are the Key Manufacturers and Suppliers of Balsam Bottle?
- DWK Life Sciences
- ABGIL
- SeaSideLand
- Daigger Scientific
- Karl Hecht
- TED PELLA, INC
- Cole-Parmer
- Carolina
- Supertek
- Xuzhou Credible Glass Products Co., Ltd.
- Xuzhou Junding Glass Products Co., Ltd.
- WUHAN QH BOTTLES CO., LTD.
- Guangzhou Junyue Packaging Products Co., Ltd.
- Other
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.
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Key Segments
By Capacity:
- Below 60 ml
- 60 ml
- 100 ml
- 250 ml
- 500 ml
- Above 500 ml
By Material Type:
- Lime Glass
- Borosilicate Glass
- Others
By End-Use:
- Domestic Use
- Commercial Use
- Personal care Manufacturers
- Laboratories
- Diffusers Manufacturers
- Others
By Sales Channel:
- Offline
- Convenience Store
- Specialty Stores
- Super and Hyper Markets
- Others
- Online
- Company websites
- Third Party E-Commerce Sales
By Region:
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Argentina & Rest of Latin America
- Europe
- 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
- Oceania
- Australia and New Zealand
- Middle East and Africa
- GCC Countries, Turkey, South Africa, and Rest of Middle East & Africa
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