Pune, India -- (SBWire) -- 06/01/2018 --Market Highlights

A tube is a hollow container, made up of plastic, aluminum or paperboard. A tube packaging is used majorly for containing sticky liquids such as lotions, ointment, pastes and adhesive among others. The key drivers of the market are growth in flexible packaging, innovative packaging, and various barrier properties. The global tube packaging market is witnessing intense competition due to presence of large number of manufacturers. Growing consumption of cosmetics and oral care products across all age groups globally is primarily driving the market.

The food & beverages industries accounts for a major share of the market after personal care. Packaging is very crucial to these industries as lot of chemical components are at play which needs very secured packaging for the product to retain its properties for which it is designed for. Both the food & beverages and the personal care are directly or in directly applied or consumed by the human body, which makes it even more important for the product to deliver the right results. Thus, these industries are highly packaging driven.

Global tube packaging market is expected to cross USD 8,297.7 Million by the end of 2023, growing at a CAGR of 5.79% in the forecasted period (2017-2023).

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Key Players

The key players of global Tube Packaging market report include- Amcor Ltd., Albea Group, Essel Propack Limited, Huhtamaki OYJ, Montebello Packaging, Sonoco Products Company, Unette Corporation, Worldwide Packaging, 3D Technopack SARL and Maynard & Harris Plastics.

Market Research Analysis

The market is highly application based. The key driver for market growth is increased emphasis on packaging across all industries. This is backed by the need for packaging that retains the product value and form. It is expected that the global tube packaging market will advance with higher growth rate as compared to previous years. However the current challenge for the market is heavy competition.

On the basis of material, laminate leads the market in all the major regions across the globe. It is the most preferred material when it comes to packaging due to its excellent barrier property. On the basis of applications, personal care accounts for the largest share in the market. In coming years, due to improved lifestyle globally the cosmetics and oral care is expected to witness huge growth.

On the basis of region, Europe takes the lead as fastest growing market, followed by North America and APAC majorly due to increasing per capita income and consumer spending. The European region is marked with informed and quality conscious consumers. This widens the scope for full proof packaging technology that retains the properties and texture of the product in any segment: food, beverage, cosmetics, medicines, lotions, pastes, etc.

Furthermore in the regions of APAC, there have been various government initiatives taken for healthcare reforms. This augments the demand for such packaging that preserves the medicinal value of the product throughout its shelf life and during usage. The region has also seen a lot of investment in R&D towards the technological advancement in packaging industries.

Tube Packaging is widely used across industries such as consumer goods, cosmetics and oral care, food & beverages, pharmaceuticals among others. The demand for sustainable & convenient packaging and excellent barrier property in cosmetics and oral care has been the key driver in the growth of the market. Consumers due to changing lifestyles are dependent on the innovative packaging of the items.

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The report has analyzed the market based on the three segments: material, product and application in the regions of North America, Europe, APAC and rest of the world. On the basis of material, laminated tubes has the largest market share. The share is attributed to its excellent barrier properties. On the basis of application, Personal care accounts for the largest share due to the increasing demand for cosmetics & oral care items. The scope of the market has widened over many years owing to the flourishing markets of APAC. The region has seen rapid urbanization and shifting preferences towards cosmetics and skin care products.

The global tube packaging market is expected to cross USD 8,297.7 Million at the end of the forecasted period and is expected to grow at CAGR of approximately 5.79% from 2017 to 2023.

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