(MENAFNEditorial) MarketResearchFuture.com added New Report Named 'Tube Packaging Market 2018: Global Industry Analysis, Market Growth and Opportunity Assessment, Segmentation by Materials (laminate, plastic, aluminum, and others), by Product (squeeze tubes, twist tubes, and others), Application (personal care, pharmaceuticals, food, consumer goods and others) and Region - forecast 2017-2023 | Outlook to 2023' to its Database.
The global tube packaging market is expected to reach USD 8,297.7 million by the end of the forecasted p
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.
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
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.
The global tube packaging market is segmented into three segments: materials, product, and application. Market categorization on the basis of the material includes laminate, plastic, aluminum, and others. On the basis of the product, it includes Squeeze tubes, Twist tubes, and others. Light weighted, cost-effective, and can be used to package various types of products belonging to different industries such as pharmaceutical, cosmetics, and others. By the application, it is segregated as personal care, pharmaceuticals, food, consumer goods and others.
The global tube packaging market is expected to reach USD 8,297.7 million by the end of the forecasted period at a CAGR of 5.79%.
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Key Players:
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.
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; TheTube PackagingMarket is segmented in to 4key dynamics
SegmentationBy Materials -Laminate, Plastic, Aluminum, and others
Segmentation By Product -Squeeze tubes, Twist tubes, and others
Segmentationby 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 by Product:
Global tube packaging market has witnessed exponential growth over the last few years and as per the analysis, the market is likely to retain the similar growth rate during the forecast period. The market has been divided into products such as squeeze tubes, twist tubes and others. In 2015, squeeze tube segment accounted for the largest share with 62.2% in the global tube market due to increase in the packaging industry. This type of tubes hold brand as well as available in different sizes, material, and colors. The squeeze tube segment is showing growth due to their excellent barrier properties such as damage proof, non-toxic and hygienic. It is mostly preferred tube packaging due to convenient and easy-to-use nature.
Growth in the Pharmaceutical Industry
Increasing demand from the pharmaceutical industry is fuelling the overall growth in the tube packaging market. The pharmaceutical packaging plays a major role in reducing disease level by protecting the drugs from direct light, moisture, and damage while handling or storing. It is mostly used in pharmaceutical because they are cheap, lightweight, flexible, and unbreakable. Polyethylene is the most commonly used material in this packing. According to the IMS Market Prognosis, the global spending on medicine for the year 2011 accounted for USD 956 billion and is estimated to be more than USD 2,890-3,020billion in the forecasted period. The pharmaceutical sector accounted for 20% of spending on medicine in 2011 and is estimated to account for 35% in 2020.
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Tube Packaging Market Regional Analysis
On the basis of geography, the market is segmented into North America, Europe, Asia Pacific and RoW. Geographically, Europe has always played a key role in the innovation of food, oral care, personal care, and pharmaceutical industries with design and packaging. Busy lifestyles and growing working population as well as convenience to carry and use driving the tube packaging market growth.
APAC is expected to witness the highest growth during the forecast period. Manufacturers focus on launching innovative pack formats, sizes, and functionality with leading pack types of squeezable plastic tubes, glass, and PET in response to consumer demand for convenience. The demand for packaged products is increasing in the Asia Pacific region due to the changing lifestyle and the increasing purchasing power. Moreover, growth in oral and skin care and niche categories such as men's grooming and baby caregiving are adding an advantage to the growth of the market in the Asia Pacific region.
The report for Global Tube Packaging Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macroeconomic and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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