Market Research Future published a research report on “Global Tube Packaging Market Research Report- Forecast 2022” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2022.
Pune, India -- (SBWIRE) -- 01/10/2018 -- Global Tube Packaging Market Information by materials (Laminate, Plastic, Aluminum, and others), by product (Squeeze tubes, Twist tubes, and others) by application (Personal Care, Pharmaceuticals, Food, Consumer goods and others) and region - Forecast to 2022
Tube Packaging Market – Market Overview
The tube is defined as a container which contains thick liquid such as adhesive, ointment, and toothpaste. Tube packaging is a type of packaging that contains a tube body, tube shoulder, and a tube opening to fill a solid liquid. The walls of the tube body consists of two layers that consist of plastic layer and a tube interior. This will protect the substance from environment effects.
The market is driven by various factors such as growth in pharmaceutical industry, increase in demand from cosmetic industry and innovation in packaging. The tube packaging has various constraints that hinder the market such as fluctuation in raw material prices. On the basis of type, the squeeze tubes segment is projected to grow at the highest rate in terms of value, during the forecast period. This growth is attributed to their excellent barrier properties such as damage proof, non-toxic, and hygienic. They are preferred because they are convenient and easy-to-use.
Tube packaging plays a major role in the cosmetic products. The overall look of the cosmetic products depends on the packaging of the product and the quality. Creative packaging is responsible for attracting more customers and increasing the shelf life of the product. The cosmetic industry is driven by the increase in demand of the advance packaging materials. The rising disposable income, and rising population will lead to the growth of the cosmetic industry. This will ultimately increase the growth of tube packaging market. According to L'Oreal/FBIC Global Retail & Technology, the global beauty product market is estimated to account for USD 371 billion in 2011 to USD 399 billion in 2014.
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The increasing demand for small size packs of cosmetic and personal care products worldwide is also contributing to the expansion of this market. Innovation in packaging plays a major role in driving the growth of tube packaging market. Advanced technology in packaging has allowed companies for innovation in products instead of sticking to traditional methods of packaging. Due to this, many companies are adopting sustainable and smart innovation in their product designs. This will help improve the safety of food and at the same time will be attractive for the consumers. Companies spend more on packaging innovation rather than on production cost. They are adopting active packaging and intelligent packaging so as to enhance the performance of the packaging technique
Accrediting the colossal growth the Tube Packaging market is witnessing currently and the potential the market is demonstrating to accrue pervasively further in the years to come; the Market Research Future has recently published a meticulous study report giving out the complete market insight up till 2023. According to which, continuing with the same trends the global tube packaging market is projected to perceive an outstanding growth by 2023 registering a striking CAGR during the anticipated period (2017 – 2023).
Industry/ Innovation/ Related News:
- May 17, 2017: World Wide Packaging LLC. (WWP), a leading provider of cosmetic packaging components and plastic tubes, has developed and launched two highly impactful design features that add intrigue, functionality, convenience and value to its broad range of tube packaging solutions.
- November 15, 2016: Sinclair & Rush, Inc., through its VisiPak division, has successfully completed the acquisition of National Plastics, Inc. This acquisition correlates directly with our long-term strategies regarding increased product offerings and market reach.
- July 15, 2015: Essel Propack to sell lamination unit to Amcor. This provide an opportunity to Essel Propack, to further grows and prosper in the flexible packaging space as part of Amcor.
Tube Packaging Market – Segments
For the convenience of the report and enhanced understanding; The Tube Packaging Market is segmented in to 4key dynamics
Segmentation By Materials - Laminate, Plastic, Aluminum, and others
Segmentation By Product - Squeeze tubes, Twist tubes, and others
Segmentation by Application- Personal Care, Pharmaceuticals, Food, Consumer goods and others
Segmentation by Regions- Comprises Geographical regions - North America, Europe, APAC and Rest of the World.
Tube Packaging Market – Regional Analysis
The global tube packaging market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). North America is dominating the market followed by Europe. Europe has always played a key role in the innovation food, oral care, personal care and pharmaceutical industries with its design and packaging. Busy lifestyles and growing working population as well as convenience driving the market for tube packaging. The U.K. contributes a major market share in the European tube packaging market. The demand for convenient, safe, and sustainable packaging will drive the market for tube packaging in the U.K.
Amcor Limited (Australia), Sonoco Products Company (U.S.), Huhtamaki (Finland), CCL Industries (Canada), Albea Group (Luxembourg), Essel Propack Limited (India), Montebello Packaging (Canada), Unette Corporation (U.S.), World Wide Packaging LLC. (U.S.), Sinclair & Rush, Inc. (U.S.) are some of the prominent players at the forefront of competition in the Global Tube Packaging market and are profiled in MRFR Analysis.
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