In 2021, the paper tubes market expanded tremendously. The study predicts that the market for paper tubes will generate close to US$17,150 Mn in sales in 2031, with a compound annual growth rate (CAGR) of 6.5%.

The wide variety of uses for paper tubes continues to be the main engine of market expansion on a global scale. Paper tubes are used by manufacturers of paper and plastic film to wind large rolls during the manufacturing process, in addition to being used in packaging.

Moreover, it is used in the retail industry to dispense and package tissues, adhesives, foils, and paper rolls. The aforementioned elements will boost demand for paper tubes in the packaging and retail sectors.

Market forecast for paper tubes in Europe

The region's food and beverage sectors make substantial use of paper tubes. A sizeable portion of Europe's paper tubes products are also exported. The market for paper tubes in Europe is dominated by the UK, Germany, and France. Due to the booming food and beverage industry, the paper tube market is anticipated to expand significantly throughout the predicted period.

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Cosmetics to the Largest Application of Paper Tubes during the Forecasted Period

Rising disposable income has led the cosmetics industry in emerging economies to grow at a rapid pace. Many cosmetics companies have stated their intention to switch to paper-based packaging.

Amorepacific, for instance, unveiled its latest technology in April 2021 to manufacture in-house paper tubes. L'Oreal has introduced paper tubes in their product packaging as well. The above trends will increase the market share of paper tubes in the Cosmetics segment.

The US and Canada Demand Outlook for Paper Tubes Market

The US and Canada paper tube market is highly fragmented with a large number of players. Manufacturers of paper tubes in the US are looking to include eco-friendly practices in their operations by recovering, reconfiguring, and returning to market the industrial paper tubes and cores.

For instance, Paper Tubes and Cores Corporation recovers used paper tubes and recycles them to create their products. The increasing awareness about planet conservation and sustainability will contribute to the rise in demand for paper tubes in the Packaging industry.

Paper Tubes: Key Players

Some key manufacturers in the Paper Tubes market include

Ace Paper Tubes Corporation

Valk Industries Inc

SigmaQ

Heartland Products LLC

Wes-Pac Inc.

Rae Products

Chonqing Ubo Electrical Equipment Co Ltd.

Paper Tubes and Core Corporation

Sonoco

Ohio Paper Tube Company

H.N. ZAPF GMBH

Caraustar Industries

Luxpac

Royal Paper Products

Alpha Packaging Inc.

and Jonesville Paper Tube Corp.

Others.

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Paper Tubes: Market Segmentation

Based on Type:

Spiral wound Paper Tube

Convolute or Parallel wound Paper Tube

Based on Application:

Food and Beverages

Pharmaceuticals

Cosmetics

Automotive and Electronics

Construction

Printing and Paper-making

Others

Based on Distribution Channel:

B2B (Direct sales)

B2C (Indirect Sales)

Store-based

Specialty stores

Discount stores

Wholesale stores

Other retail-based formats

Online retail

Based on Region:

Europe

North America

Latin America

Asia Pacific

Middle East and Africa

Oceania

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The screw top lids market is anticipated to grow between 3.0% and 5.0% CAGR during the assessment period of 2021–2031. The market is expanding as a result of rising demand from the beverage and pharmaceutical industries.

Globally, total demand is anticipated to increase, thanks to improved manufacturing efficiency and adaptability.

As per the comprehensive analysis conducted by ESOMAR-certified consulting firm, FMI, the global Screw Top Lids market is expected to grow at a healthy CAGR during the forecast period (2021-2031). The objective of the study is to analyze key market dynamics and uncover critical trends & opportunities that will elevate the sales Screw Top Lids in the coming 10-years.

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Advent of Sustainable and Intelligent Packaging Solution Skyrocketing the Demand for Screw Top Lids

With rising environmental concerns and implementation of stringent regulations regarding the use of plastic across the U.S., China, India, the U.K., Germany, and others, a substantial rise in the adoption of sustainable packaging solutions is experienced across various end use industries.

In accordance to this, numerous packaging companies are shifting their focusing of manufacturing sustainable packaging using 100% recycled plastics, biodegradable plastics, and plastic alternatives such as paper. Hence, introduction of novel sustainable packaging solutions is expected to create lucrative demand opportunities in the market.

Also, emergence of intelligent packaging with the integration of artificial intelligence (AI), internet of things (IoT), and data science have improved the demand for Screw Top Lids market. Hence, key players are incorporating novel technologies such as AI and IoT to increase their revenues, propelling the sales.

Key Screw Top Lids Market Takeaways and Projections

The U.S. is expected to lead the North America Screw Top Lids market, projecting the fastest growth in the region between 2021 and 2031

Germany and the U.K. are expected to, collectively, hold the largest share in the Europe market over the assessment period.

China will dominate the East Asia market, accounting for the largest demand share during the forecast period.

India is expected to emerge as a highly remunerative market in South Asia, contributing the significant revenue share in the region through 2031.

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Report Benefits & Key Questions Answered

Screw Top Lids Historical Market Analysis: The detailed survey by FMI, examines key factors in the Screw Top Lids market that affected the growth in the market for the last assessment period 2016-2020 and also studies their consequent impact. It also provide refined the sales projection of the Screw Top Lids market for the forecast period 2021-2031.

Screw Top Lids Demand Outlook Analysis: Future Market Insight’s (FMI’s) exhaustive study provides crucial insights into key drivers and upcoming opportunities driving the demand for Screw Top Lids for the assessment period. As per the study, the demand for Screw Top Lids will grow at a robust CAGR between 2021 and 2031.

Screw Top Lids Market Trend Analysis: The latest study by FMI on the Screw Top Lids market offers compelling insights into key expansion strategies adopted by top-tier players with respect to current trends. It discloses details regarding upcoming trends in the packaging industry to assist market players in constructing an effective strategy to capitalize on them.

Key Segments

By Material Type:

Aluminum

Plastics

others

By Application:

Pharmaceutical industry

Food & Beverages

Cosmetics

Others

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In 2021, it is predicted that worldwide demand will grow by 6.2% on an annual basis, dispelling early concerns about how the market might function in the event of a pandemic.

Globally, total demand is anticipated to increase, thanks to improved manufacturing efficiency and adaptability.

As per the comprehensive analysis conducted by ESOMAR-certified consulting firm, FMI, the global Tablet Cartons market is expected to grow at a healthy CAGR during the forecast period (2021-2031). The objective of the study is to analyze key market dynamics and uncover critical trends & opportunities that will elevate the sales Tablet Cartons in the coming 10-years.

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Advent of Sustainable and Intelligent Packaging Solution Skyrocketing the Demand for Tablet Cartons

With rising environmental concerns and implementation of stringent regulations regarding the use of plastic across the U.S., China, India, the U.K., Germany, and others, a substantial rise in the adoption of sustainable packaging solutions is experienced across various end use industries.

In accordance to this, numerous packaging companies are shifting their focusing of manufacturing sustainable packaging using 100% recycled plastics, biodegradable plastics, and plastic alternatives such as paper. Hence, introduction of novel sustainable packaging solutions is expected to create lucrative demand opportunities in the market.

Also, emergence of intelligent packaging with the integration of artificial intelligence (AI), internet of things (IoT), and data science have improved the demand for Tablet Cartons market. Hence, key players are incorporating novel technologies such as AI and IoT to increase their revenues, propelling the sales.

Key Tablet Cartons Market Takeaways and Projections

The U.S. is expected to lead the North America Tablet Cartons market, projecting the fastest growth in the region between 2021 and 2031

Germany and the U.K. are expected to, collectively, hold the largest share in the Europe market over the assessment period.

China will dominate the East Asia market, accounting for the largest demand share during the forecast period.

India is expected to emerge as a highly remunerative market in South Asia, contributing the significant revenue share in the region through 2031.

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Report Benefits & Key Questions Answered

Tablet Cartons Historical Market Analysis: The detailed survey by FMI, examines key factors in the Tablet Cartons market that affected the growth in the market for the last assessment period 2016-2020 and also studies their consequent impact. It also provide refined the sales projection of the Tablet Cartons market for the forecast period 2021-2031.

Tablet Cartons Demand Outlook Analysis: Future Market Insight’s (FMI’s) exhaustive study provides crucial insights into key drivers and upcoming opportunities driving the demand for Tablet Cartons for the assessment period. As per the study, the demand for Tablet Cartons will grow at a robust CAGR between 2021 and 2031.

Tablet Cartons Market Trend Analysis: The latest study by FMI on the Tablet Cartons market offers compelling insights into key expansion strategies adopted by top-tier players with respect to current trends. It discloses details regarding upcoming trends in the packaging industry to assist market players in constructing an effective strategy to capitalize on them.

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The market for paper cup machines is anticipated to expand at a CAGR of 8.4% over the expected period, according to the most recent study. The global trend towards sustainability is one of the key elements encouraging the development of the paper cup machine.

Paper cups are also quickly gaining acceptance as a biodegradable packaging choice in the food service industry. Paper cups have several uses in the restaurant industry. They enable public foodservice facilities like stadiums, hospitals, schools, nursing homes, and universities to serve a larger number of people each day with better flexibility, which is driving the expansion of the paper cup machine market.

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What Is Driving the Paper Cup Machine Industry?

The market for paper cups machines is set to benefit from the growing popularity of vending machines. Intelligent vending machines, which are supported by smart interaction elements for a better consumer experience, are making a foray, especially in developed nations, with technology at the core. To capture the value at stake, paper cup producers must take advantage of this transformation.

Moreover, because of the environmental damage caused by plastic cups, numerous groups have promoted the use of paper cups as an environmentally friendly alternative, which has had a positive impact on the worldwide paper cup machine market.

Furthermore, as consumer awareness of cleanliness and hygiene grows, disposable paper cups are perceived as being safer than reusable cups, as they are exposed to high heat during the manufacturing process, which kills microorganisms and renders the product almost sterile. However, the availability of less expensive alternatives such as plastic, Styrofoam, and glass cups poses a significant challenge to the paper cup machine market.

The US and Canada Demand Outlook for Paper Cup Machine Market

In the foreseeable period, North America is expected to hold a considerable proportion of the paper cup machine market. The growing movement toward sustainability among the population in the United States and Canada is driving up demand for paper cub machines.

Furthermore, increasing technical breakthroughs and R&D initiatives by key manufacturers in the United States and Canada to develop the best machine for the manufacturing of machine cup machines have resulted in significant advancements in the paper cup machine market.

Europe Paper Cup Machine Market Outlook

Europe holds a significant share of the paper cup machine market. The market for paper cup machines in the region has a lot of potential due to the region's high consumption of beverages in a sustainable manner. Additionally, the presence of top manufacturers has a favourable impact on the paper cup machine market.

Asia Pacific Paper Cup Machine Market Outlook

During the projection period, the Asia-Pacific region is expected to be the fastest-growing paper cup machine market, owing to increased demand for public food services applications of paper cups in developing nations such as India and China.

Paper Cup Machine: Market Segmentation

Based on Automation:

Semi-Automatic

Fully automatic

Manual

Based on Paper Grade:

5000 cups/ hr

3000 cups/hr

1000 cups/hr

500 pieces/hr

Based on Cup Size:

100-200 ml,

200-300 ml

40ml -330ml

Others

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According to recent research on the market for recyclable ovenable trays, the industry is anticipated to develop at a healthy rate between 4% and 6% between 2021 and 2031.

Due to its recyclable component parts, which make it a sustainable packaging solution and a popular eco-friendly product, the product will see a significant increase in demand.

What is Driving the Demand for Recyclable Ovenable Trays?

Biodiversity on earth is facing a lot of issues and health hazards owing tremendous rise in pollution across the globe. To protect marine & land based biological environments from these health hazards and saving the earth from pollution many awareness programs, governmental initiatives and other development efforts are being undertaken to increase mass awareness on the issue.

With the rise in awareness among the people the demand for recyclable and eco-friendly products is increasing with a remarkable growth rate. Consumers are preferring recyclable and eco-friendly products over conventional products, even at additional costs.

Various initiatives by regional governments and environmental regulatory bodies to save the environment, such as the restrictions on the use of polythene in various regions, regulations on manufacturing of non-recyclable products, etc. are also promoting manufacturers to develop eco-friendly and recyclable products.

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These factors are expected to be a key driver for recyclable ovenable trays during the forecast period.

Increasing Preference for Eco-friendly Packaging Products to Augment Recyclable Ovenable Trays market Demand

Ovenable trays are the best solution for packing ready-to-eat food developed by food manufacturers. Ready-to-eat food is experiencing great demand owing to the busy and dynamic lifestyle of the consumers. With the growth in ready-to-eat food products, the ovenable tray market is also expected to witness an immense rise in demand.

This rise in demand is due to more time-saving specifications of the ovenable trays as the consumers can store their food in freezers in these trays while they can also micro-wave it keeping the same packaging.

In addition, due to changing preference of consumers towards eco-friendly products, an extra advantage has been added to recyclable ovenable trays that make them different from their alternatives and thus boosting sales.

US and China Recyclable Ovenable Tray Market Outlook

The US is one of the largest consumers of the recyclable ovenable tray market. There is substantial demand for disposable kitchenware in the American market.

On the other hand, various environment regulatory bodies in the US such as the Environmental Protection Agency (EPA) and various others are compelling manufacturers to develop and produce recyclable products. All of these aspects makes the US a lucrative market for recyclable ovenable trays during the forecast period.

China is a developing country with a vast urbanized population undergoing a huge lifestyle change. Moreover the country been increasing its efforts towards sustainability and environmental protection over some recent years with new regulations.

The high demand for ready to eat food products, and growing awareness and adoption of recyclable packaging materials is projected to create significant demand boost for the Recyclable Ovenable Trays market in China.

Key Segments

By Product Type:

Single Compartment

Multi-Compartment

By Capacity Type:

Up to 6 oz

6 to 10 oz

10 to 16 oz

16 to 30 oz

Above 30 oz

By Application:

Food services

Bakery

Airline Catering

Surgical

Medical

Others

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The worldwide dust covers market will expand steadily between 2021 and 2031, predicts Future Market Insights' most recent study. One of the habits linked to cleanliness is the use of dust covers, which are primarily used to protect our products from dust.

Nowadays, people prefer their neighborhoods to be tidy and well-kept. The market for dust covers is expanding globally as people's health concerns increase. Dust covers are manufactured from a variety of materials to improve the quality, strength, and efficiency of the final products.

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What is Driving Demand for Dust Covers Market?

Moreover, the dust covers are used in automobile industries to cover the cars specifically. The increase consumer ground in the automobile industry is the major driver for the market globally, the dust cover for car is made of various materials which can serve various needs such as protection from dust, Scratches, Acid rain, and etc.

Dust Covers has a wide range of application it is required almost in all sectors such as, automobile sector, hospitals, home care sector, pharmaceutical sector, Construction sector, Packaging sector, and etc. This wide application and use of products increase the demand for the market.

Consumers are focusing more on the qualitative and durable protective solutions owing the rise in awareness for the damage caused by the dirt and water, this protective action becomes the major driver for the demand of the market globally.

Dust cover are the products which are easy to use where you can put on and pull off the covers easily, this becomes the trigger for the market growth.

Covid-19 impact on the Dust Covers Market

Covid-19 outbreak led the consumer to focus more on the clean and hygienic environment around them, the change in actions of consumers as precautionary measure had a positive impact on the market globally, Covid-19 pandemic smoothly helped in the growth of the market globally.

US and Canada Dust Covers Market Outlook

North America Led by US and Canada is major shareholder in the market, the reason for this is the Awareness regarding damage caused by the dirt and water on the belongings raises the market demand, health concerns of the consumers are triggering the market demand globally, the rise in expenditure on the healthy and hygienic environment for the citizens boosts the market growth in the region.

The increase in the experiments and development for sustaining maximum market share globally drives the demand of the market.

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Key Segments

By Product Type:

Normal dust Covers

Woven Dust Cover

Woven Dust covers

Water-proof dust covers

Sterilized Dust Covers

Others

By Fabrics:

Cotton

Wool

Plastic

Rubber

Polyester

Bamboo

Down Feather

Nylon

By Application:

Packaging

Automotive

Construction

Household protection

Others

By Region:

Oceania

South Asia

East Asia

Europe

Latin America

North America

Middle East and Africa

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Insights revealed by the perceived growth on the Serum Vials market portray substantial gains, with the market expanding at around 5% to 6% CAGR from 2021 to 2031. Demand for Serum Vials will witness gargantuan insistence, with a lofty growth outlook in the long run.

From the burgeoning demand from pharmaceutical industry and testing laboratories, there is a growing inclination of manufacturers towards high-tech glasses to keep medicines fluids safe and are also prioritizing eco-friendly packaging solutions.

The serum vials give high performance and moisture barrier that assist in extending the shelf life of the stored material. These properties help to boost the market to a further extent. The demand for maintaining the nutritional values of the product is higher.

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What Promotes the Demand for Serum Vials?

They are versatile and also recyclable and used to store medicines with the right quantity due to the available capacity of the vial such as less than 10ml and others. The major factor for soaring the demand is for maintaining the quality of medicine for a prescribed period.

Due to the leak-proof property by using a screw or cork will further secure the medicine inside the vial for the transportation of the medicines. As previous vials of plastic or aluminum glass do not impart the flavors into the medicines stored in the vial and thus provide escalation in the imposition of the vials.

Commercial Manufacturing and Sampling Process to Imbibe High Degree of Serum Vials

The rise in the demand for pharmaceutical products in this pandemic will surely gargantuan the demand for the vials for the storage of vaccines and samples of the strains. Strides in pharmaceutical packaging have boosted the trend of adopting eco-friendly materials.

The demand from the healthcare and hospital due to the increase in the consumption of vaccines, biopharmaceuticals, and insulin will provide ample amount of growth. Hence the market witness the backdrop of the chromatography market in various industries including biotechnology, life science, chemical, F&B, and pesticides.

Researchers need ready to use vials and serum vials for their laboratory work. Some of the regulations compromise United States Pharmacopeia, European Pharmacopeia standards, and British Standard BS1679. A growing arrogation for vials for pharmaceutical, healthcare, and hospital and laboratory work will propel the market towards healthy growth.

Asia Pacific Serum Vials Market Growth Outlook

Furthermore, in near future a sizable economic growth is expected in developing countries such as India, China, ASEAN, etc. with growing applications of serum vials in drugs storage and sample collection will drive the overall growth of the market in the Asia Pacific region.

As the developing region Asia Pacific shows healthier outcome in the field of pharmaceutical and medical sector. In the near future the overall Asia Pacific region would conquer the market by its own in terms of market value which would then make a steady growth over the period of time.

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Key Segments

By Raw Material Type:

Glass

Borosilicate Glass

Fused Silica Glass

Plastic

PP

By Product Type:

EPA Vials

Headspace Vials

Shell Vials

Tubular

Molded

Screw Neck

By Storage Capacity:

Less than 10ml

10ml to 20ml

20ml to 40ml

40ml and above

By End-User:

Pharmaceuticals

Healthcare and Hospitals

Chemicals

Industrials

Others

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The global cosmetic vials market is anticipated to accumulate a market value of US$ 6.1 billion in 2023 and is expected to record a market valuation of US$ 9.9 billion by exhibiting a CAGR of 4.96 % in the forecast period 2023 to 2033. The market for cosmetic vials registered a CAGR of 3.1% in the historical period 2018 to 2022.

The global Cosmetic Vials Market is expected to increase at a growth rate of around 4.0% to 5.0% during the forecast period. Demand for cosmetic vials will witness stable recovery in the short term, with a positive growth outlook in the long run after the pandemic. The digital transformation of the industrial landscape means that there are favorable growth prospects for the market in the forecast period.

Cosmetic Vials Market: An Overview

Vials are small, closable tubes that are used in various industries such as cosmetics, pharmaceuticals, and households. A vial is a better choice for storing cosmetics as it not likely to break and splinter and it is also a light material.

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Cosmetic vials offer a much better thermal insulation that keeps the product at the right and appropriate temperature. The major application of the cosmetic vial is packaging of cold cream, lotions, makeup, perfume and other personal care goods that will be sold in retail markets to the consumers.

Packaging used for cosmetics must be attractive, eco-friendly and also should offer more variety in shape, colour, style, and size. This unique and specialized type of cosmetic packaging anticipates a steady growth during the forecasted period.

What Drives the Growth of the Cosmetic Vials Market?

The demand for vials is essentially driven by the increasing demand for the usage of small quantities of cosmetics either for minimal use or to test using a sample. They mostly are placed in either a frosted or clear vial which makes them distinguishable.

Usage of glass or plastic material vials would not impart any alteration to the cosmetics stored maintaining the purity of the cosmetic, therefore, acting as a driver of the cosmetics vials for packaging in the cosmetics industry. Vials made up of glass are also recyclable and are highly preferred by customers who prefer green products.

What Restraints the Growth of the Cosmetic Vials Market?

Cosmetic vials have some limitations that act as a barrier to the growth of the market. During the manufacturing process, vials must be held still during the piercing and laser sealing procedures for which manufacturers have to invest a lot in the R&D of new equipment.

Also, glass cosmetic vials are susceptible to mechanical damage because of which additional protection must be given to the glass packaging to prevent breakage. This creates an opportunity for the plastic cosmetic vial in the market.

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Key players in the Asia Pacific region of the Cosmetic Vials Market are:

Danyang Jingding Glassworks Co., Ltd.

Jinan Jotop Import and Export Trade Co., Ltd.

Orange Packaging (Shandong) Ltd.

Syscom Packaging Company

Easter Cosmetic Packaging

Key Segments of Cosmetic Vials Market Covered in the Report

Based on the Material Type

Glass

Plastic

Based on the Product Type

Patent Lip Vials

Screw Thread Vials

Specialty/Serum Vials

Others

Based on Application

Cream

Perfume

Oil & Ointments

Others

Based on Region

North America

Latin America

Europe

South Asia

East Asia

MEA

Oceania

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According to latest research by Future Market Insights, hand wrappers market is set to witness steady growth during 2021-2031. Consumer packaged goods (CPG) makers are turning to hand wrappers to meet rising demand for a wide range of food, beverage, and personal care products. Hand wrappers, on the other hand, will have limited opportunity in the near future as a result of the adoption of products such as semi-automatic stretch wrappers.

For instance, on February 23, 2021, the ROBOT S6 Portable Stretch Wrapper features proprietary Cube Technology, making it one of the most technologically advanced machines available today. This technology reduced labour costs while also reducing product damage.

Rapid technical advancements, however, have resulted in a worldwide focus on critical and temperature-sensitive pharmaceutical items will provide momentum to the hand wrappers market.

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What is Driving Demand for Hand Wrappers?

Factors that are driving the demand for hand wrappers include population growth, the developing food and beverage industry, and others. Furthermore, the increased emphasis on packaging to differentiate diverse items in the marketplace is expected to drive demand for hand wrappers.

On the other hand, differentiating food goods through the aesthetic appeal of packaging has become increasingly crucial for food manufacturers as urbanisation and the emergence of supermarkets and hypermarkets have increased. Furthermore, customers are becoming more aware of the components and contents of packages, which is projected to increase demand for hand wrappers.

Aside from that, other technological advancements have been made in response to growing concerns about environmental contamination and stricter regulations on the use of plastics. For instance,

On 18-Mar-2021, EcoStretchTM was introduced by Cortec® Corporation at a critical moment when companies are looking for new packaging choices that satisfy their needs while also reducing their environmental impact.

Surge in Adoption of Hand Wrappers in Food Industry

Perishable food goods with limited shelf lives, such as bakery, dairy, and allied items, are vulnerable to pollution, contamination, and climatic fluctuations. As a result, demand for hand wrappers is projected to rise, particularly in the food industry.

Furthermore, manufacturers have adopted a number of initiatives in recognition of the importance of eco-friendly and cost-effective products. For instance,

In June 2020, Amcor partnered with Espoma Organic to develop more sustainable packaging and launch a new bio-based polymer package in response to the brand's mission to "develop the finest organic gardening products that work in harmony with nature, grow beautiful gardens, and make a greener world for the future.

Moreover, shrink wrap has been in high demand from product makers at COVID-19. Shrink wraps are needed for a variety of products, including food & beverage, electronics, pharmaceuticals, and cosmetics. Due to the inevitable decline of market products as a result of the COVID-19 pandemic's severity, the price of products has skyrocketed.

However, as more consumers have attempted to find items virtually to combat the rising shortage of customers at their physical stores and minimise the spread of illness, the demand for products has increased in an online purchase. As a result of the increased demand for non-perishable commodities as a result of the fear of demand extinction, the need for shrink wraps has increased.

Key Segments

By Type:

Stretch Hand Wrappers

Shrink Hand Wrappers

Others

By Application:

Food Packaging

Agricultural Packaging

Chemical Packaging

Healthcare & Pharmaceuticals Packaging

Cosmetics & Personal care Packaging

Electrical & Electronics Packaging

Other Industrial Packaging

By End User:

Supermarket

Hypermarket

Online Stores

Others

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According to latest research study by FMI, balsam bottle business is set to grow at a CAGR of over 5.4% during 2021-2031. The product is gaining high traffic from the end-use industries such as laboratories, where they are used to stores Canadian balsam due to its high volatile nature.

Furthermore, the increasing inclination of people towards balsam essential oil and its products has led to increased demand for balsam bottles. In the coming years this demand is anticipated to skyrocket and will support the overall business. It is expected that during the balsam bottle business will grow at a rate of 1.7X during the forecast period.

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Growing Demand for Canadian Balsam Essential Oil is Likely to Bolster Balsam Bottle Sales

The per-capita expenditure on personal care and wellness products is increasing in developed nations. In the North America per-capita expenditure on personal care and cosmetics is more than US$ 130 where as in Europe it is over US$ 151. The people in these region are readily investing for new personal care and well products.

The growing awareness of people in these regions on benefits of Canadian balsam based essential oil has led to increased demand of it. With such a demand the personal care manufacturers are have scaled their production of Canadian balsam essential oils and this in turn has lifted the requirement of balsam bottles.

During the forecast period the growth in Canadian balsamic essential oil business is set to bolster balsam bottles business and is anticipated to create an absolute dollar opportunity of more than US$ 50 Mn.

Asia Pacific Demand Outlook for Balsam Bottle

Asia Pacific is one of the strategic region in balsam bottle market. The region accounted for more than 30% of the global sales, with a projected CAGR of over 4.8% in 2020. The growth of the product in the region is due presence of high number of personal care and cosmetics industry.

Also, the domestic end-use of balsam bottle to be used for olive oils and related application is at higher side. In addition, the number of laboratory goods manufacturers in the region are also large in number and most of them are either manufacturing or re-selling these bottles and so are supporting the sales of the products.

Owing to aforementioned factors. It is anticipated that Asia Pacific region will gain over 100 BPS in its value share by the end of 2031.

The COVID-19 pandemic has a significant impact in the sales of cosmetics and personal care industries. This in turn have affected the sales of balsamic essential oils and reflected a negative V-curve in regional business.

The cases being reduced in various countries across the regions is in turn supporting the recovery of the product sales. It is expected that by Q2 of 2022, the demand for the product will regain its historical curve creating new opportunities for the regional manufacturers.

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

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