Packaging has evolved from just being used for protecting finished products to other uses such as creating brand image through appearance, color, and texture. Companies carefully design their packaging, as it represents the brand and helps it create an image among consumers. Wax has been used as a packaging material since a long time. It has been used to seal corked wine bottles in order to ensure freshness and avoid tampering or doctoring. Apart from these primary uses, companies use bottle seal wax as a symbol of premium quality. Wine manufacturers across the globe use bottle sealing wax to seal their bottles. They emboss their brand image on the wax seal for premium esthetics. This helps companies establish a premium brand image in the consumer’s mind.
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Increase in demand for bottle sealing wax in alcoholic beverage applications and extensive use of bottle sealing wax in beauty care products are some of the key factors driving the bottle sealing wax market. This is prompting companies to increase the production of bottle sealing wax. Additionally, easy availability of raw materials is anticipated to boost the demand for bottle sealing wax in the near future.
The global bottle sealing wax market is witnessing technological advancements. Companies are constantly striving to develop new and better ways to manufacture bottle sealing wax. Development of new manufacturing processes of bottle sealing wax and applications is estimated to propel the bottle sealing wax market. However, volatility in prices of raw materials is projected to adversely affect market growth.
Based on product type, the bottle sealing wax market can be segmented into beads and bricks. Beads is the commonly used bottle sealing wax due to its excessive usage in sealing alcoholic beverage bottles.
Based on packaging type, the bottle sealing wax market can be divided into manual sealing and machine sealing. Machine sealing segment accounted for a significant share in the bottle sealing wax market due to excessive use in the alcoholic beverages.
Based on end-use, the bottle sealing wax market can be divided into alcoholic beverages and beauty care products. The alcoholic beverages segment accounted for a significant share of the bottle sealing wax market due to the excessive usage of bottle sealing wax in corked wine bottles.
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In terms of geography, the bottle sealing wax market can be segregated into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. North America is anticipated to constitute key share of the market during the forecast period. Asia Pacific is estimated to be a rapidly growing region of the bottle sealing wax market, owing to the increase in demand for bottle sealing wax in the beauty care segment in the region. Middle East & Africa is likely to be an attractive region of the bottle sealing wax market during the forecast period due to the rise in demand for these in alcoholic beverages in the region.