The Tube Packaging Market report provides a detailed evaluation of the industry by highlighting information on different aspects which include drivers, restraints, growth opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing. It also provides a detailed analysis of global market size, regional and country-level market size, competitive landscape, impact of domestic market players and value chain optimization. Furthermore, it sheds light on the market contribution, recent developments and successful marketing strategies of leading companies.
Market Insights
The global tube packaging market is anticipated to reach USD 49.7 billion by the end 2025, according to a new report released by Million Insights. The market is anticipated to grow at a CAGR of 6.5% over the forecast period, 2019 to 2025. Demand for personal care and cosmetic products is increasing at a robust pace, which is anticipated to proliferate the market growth from 2019 to 2025.
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Convenient packaging is highly preferred especially for packing pharmaceutical products. It is highly effective in preventing microbial growth over ointments or creams and helps in extending their shelf life. This property is expected to drive market growth over the forecast period. For example, Soframycin is an antibiotic ointment packed in tube made up of aluminum. This packaging provides ease of applying the ointment and improves its shelf life.
Technologically advanced manufacturing processes are available for manufacturing tubes made up of aluminum, paper, and plastic having their application in different industries. These tubes are used to protect the material from micro-organisms and bacteria, thus, improving its shelf life. For example, Pidilite manufactures a super glue named Fevikwik which is packed in aluminum tube. The glue inside this aluminum tube does not react with the tube, thus, it is the most suitable material for packaging than other available materials.
In 2018, the plastic segment accounted for the largest market share of 40.2%. Manufacturers of FMCG products are focusing on using cheaper materials for manufacturing tubes to cater to increasing population and large scale production. Therefore, they are highly preferring plastic tubes to pack face creams, ketchups, toothpastes, and other such products.
Presence of leading players in this industry like Essel Propack, Sonoco Products Company, Huhtamaki OYJ, Visipak, Amcor Limited, Montebello Packaging, Albea Group, Worldwide Packaging, and Unette Corporation made the market highly competitive in nature. Manufacturers are focusing on strategic initiatives such as M&A and research and development (R&D). For example, in March 2018, SIG and Amcor collaborated for sourcing of aluminum foils to meet the regulations of the Aluminum Stewardship Initiative.
Further key findings from the report suggest:
- North America is expected to account for the revenue share of USD 12.0 billion by the end of 2025.
- In, 2018, plastic segment accounted for the revenue share of 40.2% and it is expected to grow significantly over the forecast period.
- Asia Pacific is projected to grow at the fastest CAGR of 7.6% from 2019 to 2025.
- Rising demand for tube packaging across different countries such as Germany, India, U.K. and Saudi Arabia owing to high consumption in domestic sector, rising disposable income levels, presence of key manufacturers, and growing world population.
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Tube Packaging Regional Outlook (Revenue, USD Billion, 2015 – 2025)
- North America
- U.S.
- Europe
- Germany
- U.K.
- Asia Pacific
- India
- China
- Central & South America
- Middle East & Africa