According to the study, the global balm and vapor rub market is projected to grow at a CAGR of 9.94% over the forecast period of 2019-2025. Among the region, the Asia Pacific balm and vapor rub market generated the highest revenue in the world.
Shubham Powar

Balm and Vapor Rub Market (Sales Channel - Retail Stores, Retail Pharmacies, Online Stores, and Others; End-user - Adult, and Children): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025

Published : March, 2020
Rep Id : BVRM342020
No. of Pages : 187

The fast-moving health goods (FMHG) industry is expanding as innovative products are emerging in the market. This industry is dominated by products like balms & rubs, medicated skin treatments, cough syrup and drops, digestives and health. Balms and vapor rub products are most commonly used as a cold and cough suppressant. Along with cough and cold, balms and vapor rubs are also believed to relieve headache and body pain. The wide medicinal applications of the balm and vapor rubs have made them popular among the consumers. Moreover, newly developed balm and vapor rubs for children and infants are helping the companies in the market to consolidate their position and compete with each other.

The higher incidence rate of upper respiratory tract infections is the major driver for the global balm and vapor rub market. Every year there are millions of cases of the common cold in the United States alone. On average, adults have about 2-3 colds per year, and the rates are even higher for children. Cold and cough are often caused due to viral infection in the upper respiratory tract. As of now, there is no treatment for the viral upper respiratory tract infection. However, many patients use drugs and products to gain relief from the symptoms. Moreover, the growing preference of consumers towards purchasing over-the-counter (OTC) drugs and healthcare products is expected to augment the demand for the balm and vapor rub across the world. The patients can buy OTC drugs and healthcare products without prescriptions from the doctor. This encourages patients to buy balm and vapor rub for primary treatment of cough and cold.

On the other hand, stringent laws on the direct sale of vapor rub balm in order to ensure consumer safety are one of the major restraining factors for the growth of the market. Many balm and vapor rub products are found to be harmful to small children and infants. Studies conducted by several scientific communities have found that applying balm and vapor rub to infants and children may cause them difficulty breathing and rashes on their skin. The findings from such researches have influenced governments in various countries to restrict the sale and usage of the balm and vapor rub products. Nevertheless, the advent of a number of innovative products is anticipated to offer profitable business opportunities for market players. The introduction of novel products in the market such as natural and herbal balms and vapor rub for children and infants is expected to augment the demand for balm and vapor rub.

Among the region, the Asia Pacific balm and vapor rub market generated the highest revenue in the world. The domination of the Asia Pacific region in the global balm and vapor rub market attributed to a large pool of patients suffering from upper respiratory tract infection. According to WHO, cold and cough are the most common disease in the Asia Pacific. The adults in the Asia Pacific have 2-3 colds per year on average and the children have colds on an average of 7-8 colds. Moreover, the balm and vapor rub market in the Asia Pacific is expected to grow with the highest rate owing to increasing disposable income of individuals and rising awareness among the population regarding URTI and associated primary remedies.