Manufacturing is a key part of any economy. Fabricated metal, electronics, and medical equipment all top the list of mass-produced products in developed nations that provide stimulus to their economies. However, globalization, coupled with a slump in consumer spending, is providing a new dynamic that is changing global and local economies. With recent tariffs imposed on the United States (US) and its shaky trade relationship with China, the world’s manufacturing industries are on the lookout for alternatives. This means economic stimulus is now taking a different form.
One country that is experiencing and adapting to this new economic climate is Indonesia, a country known for its traditionalist products and tourism. The island province of Bali is at the forefront of this, becoming a driving factor in Indonesia’s economy, and with the current tourism boom that Bali is experiencing, food and beverage industries are thriving. However, a remarkable effect of this is that it correlates directly with a significant rise in the Essential Oils market as well.
A recent report from worldwide industry think-tank Grand View Research stated that, “Increasing applications in aromatherapy, a rising demand for fragrances, flavours in food and beverages, and personal care is expected to drive essential oils market growth.” Similarly, an increase in awareness, “regarding the health benefits associated with these oils is projected to foster the growth of the global and local industry.”
Utama Spice, an aromatherapy business located in Bali, is focused on making the production of locally sourced high-quality products a part of its core philosophy and practice. In doing so, the company hopes to stimulate the local market, with its sights set on making a splash on the global stage as well. The business has spent over two decades studying and developing regional formulas for products, using only natural ingredients. More information regarding Utama Spice can be found at their online press room, at https://www.pressadvantage.com/organization/utama-spice-bali.
Utama Spice has another, more humanitarian, philosophy. Having started out as a micro-family affair, they have now grown into a small company that employs around twenty people. As a business, they are committed to finding a balance between environmentally friendly practices and hosting an exciting and encouraging workplace. Utama Spice all of their employees part of the same family, each of whom naturally share that love and want to work in tandem with the business to improve lives with their natural products.
Utama Spice is actively working on adapting to the world’s new manufacturing direction, and they are well aware of the impact that globalization and global market forces can have on their business and the region. Small companies such as theirs can find it difficult to break into the global market, especially with the almost constant changes occurring in trends and techniques.
As noted by The Center for Marketing Research, “Manufacturing is complex, and its production processes increase the demand for raw materials, energy, construction, and services from a broad array of supplying industries. Businesses now need to find alternative solutions to common issues.”
Small isolated businesses like Utama Spice (see: https://goo.gl/maps/pbB45sdoZmk) must come up with innovative ideas and products in order to cater for consumers globally, and find a reliable method of manufacture to begin with. Thankfully, the Essential Oils market is massive, and consumers are now savvier about what they purchase for their personal care.
As Shoshanna Delventhal, Journalist for Investopedia said, “A growing number of consumers are choosing to pay a premium for products that are natural, or that they “perceive to be natural.” The report indicated that, in 2016, the personal care market reached 9% growth in the US and 8% in the UK The trend-driven natural and organic personal care industry is on track to be worth $25.1 million by 2025, according to Grand View Research.”
The Essential Oils market, especially for niche and completely natural products, can certainly be a driving force for an economy. Utama Spice is extremely conscious of the local market, as they are intent on developing their brand and raising awareness about their truly natural products at home. In time, organic growth outward into the global market can occur naturally, as more and more people experience the quality and effectiveness of their products.
Those who wish to learn more about the company and their products may visit their main website, which also contains a full list of their contact details. The company can also be reached through their Facebook page at https://www.facebook.com/UtamaSpiceBali/about/.
SOURCE: Press Advantage [Link]
Utama Spice is a traditional skincare company based in Ubud, Bali. We focus on applying ancient Balinese herbal knowledge to create products that not only enhance your skin’s natural beauty but also provokes your mind to consider the raw power of nature.
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