In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
Boston round bottles are one of the products utilized in the packaging industry which has been recognized for its wide scale application across industries. Boston round glass bottles are preferred over conventional plastic bottles, as these bottles are composed of glass, that offers more strength and compatibility compared to plastic bottles. Boston round bottles are predominantly preferred in health care and pharmaceutical industry, as these bottles can hold high quality solid and liquid applications. Among the three categories of glass, the Boston round glass bottle comes in type III which are made of untreated commercial soda-lime-silica glass. These bottles are available in different styles and colors among which amber and flint color provide the opportunity to select the best packaging for dissimilar contents.
The Boston round glass bottles provide tough resistance to store any liquid, powdered specimens or solid samples. These bottles also allow to monitor filled levels as it provides complete clarity. Assembled with the best material grade, the glass bottles frequently feature a broad-mouthed design for the addition and removal of materials. Expanding its applications, the Boston round bottles are additionally used for storing cosmetics, dyes, shampoos and syrups. The bottles have smooth surface which makes it easy for labelling. The market for Boston round bottle is rising by cause of its wide-ranging applications attributed to its properties such as corrosion resistant, inertness, heat resistant, light resistant, and others.
Boston round glass bottle market is expected to witness strong growth owing to rise in pharmaceutical packaging industry which is expected to primarily drive this growth. Global Boston round bottle market is expected to record a CAGR of 7% over the forecast period.
The market is segmented by bottle size (small boston round bottle (0.5oz. to 2oz.), medium boston round bottle (3oz. to 8oz.), large boston round bottle (8oz. to 32oz.) and very large boston round bottle (>32oz.); by color (amber, cobalt blue, clear glass and others); by caps and closure (applicator caps, corks, disc caps, dome caps, droppers, pipette caps and pumps); by end-user industry (food & beverage, home care, chemical, pharmaceutical, healthcare and others). Based on end-user industry, the pharmaceutical and healthcare industry is anticipated to hold the largest share owing to rising demand from this industry. Growing investment and increasing activities in biotechnology R&D is propelling the market growth in a positive way. Moreover, food & beverage industry is expected to show significant demand owing to rising population, growing disposable incomes, and improved living standards of the consumers. On the basis of color, amber color is expected to have the highest demand pertaining to its usage in pharmaceutical industry. CLICK TO DOWNLOAD SAMPLE REPORT
The Boston round glass bottles market continues to grow owing to increasing research and development activities which is expected to boost the growth in the pharmaceutical industry. Its usage is increased in cosmetic & personal care industries, as these bottles have properties to package high quality solid and liquid specimens. These bottles are a multipurpose choice for food & beverages and home care products. Boston round bottles are available in various styles and colors, which is expected to fuel the market growth in the near future.
The price volatility of raw materials and varying health regulations together with rising competition due to availability of alternate products can act as hindrances for the growth in the Boston round glass bottle market. Additionally, the fragile nature, weight and limited recyclable usage of the bottles appear to be the restraint in the market.
Our-in depth analysis of the boston round glass bottle market includes the following segments:
On the basis of regional analysis, the global Boston round glass bottle market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
In terms of region, North America is anticipated to hold the largest share owing to rising demand from various end-use industries. Asia Pacific is expected to have the highest CAGR in the global market owing to rising industrialization in emerging economies like India and China. Moreover, increasing GDP and growing expansion of pharmaceutical, food & beverages, and cosmetic & personal care industries are estimated to surge the market growth in this region.
The Global Boston Round Glass Bottle market is further classified on the basis of region as follows: