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TUBE Packaging Market Report

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TUBE Packaging Market Report

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  1. Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ Covid-19 Impact Tracker Coherent Market Insight

  2. TUBE PACKAGING MARKET ANALYSIS • Tube Packaging Market Report, by Product Type (Squeeze Tubes, Twist Tubes, Extruded Tubes, Cartridges, and Others), by Material Type (Aluminum, Plastic, and Laminated), By Application (Oral Care, Beauty & Cosmetics, Food, Healthcare & Pharmaceuticals, and Adhesives & Sealants), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa) - Size, Share,Outlook and Opportunity Analysis 2018-2026

  3. The market is projected to reach 71.79 billion tubes by the end of 2026, growing substantially over the forecast period, owing to technological advancements in the packaging industry. Moreover, factors such as ease of transportation & handling, eco-friendly nature, and less cost of tube packaging materials are playing important role in fueling the growth of the tube packaging market.

  4. The tube packaging materials commonly used include plastic, metal, brick cartons, paper, cardboard, and glass. These materials are used in various end-use industries dependent on packaging requirements. For instance, aluminum and tin are used to store food & beverages in cans. This is due to the corrosion resistant properties of these metals, which ensures that the product is not contaminated. Similarly, alcohol is typically stored and sold in glass bottles, as it looks visually appealing and has a longer shelf life than plastic bottles.

  5. Based on the material type, laminated segment held the largest market share in the industry in 2017. Laminate tubes are made from several film layers assembled by heat, pressure, or adhesives, in order to achieve improved oxygen, water or light resistance, or better appearance. Laminate tubes are manufactured with plastic and aluminum layers. The combination of layers is selected to minimize cost and maximize the quality of the tube. • End users of packaging materials include food beverages, electronics, pharmaceuticals, personal care, textile, consumer goods, and chemical processing industries. The largest share is held by food and beverages packaging segment due to increasing consumption of packaged food in emerging economies. According to Department of Industrial Policies and Promotion (DIPP), India received US$ 6.82 billion worth of foreign direct investment (FDI) for food processing sector during the period 2000-2016, for improving and promoting the food processing industry.

  6. Favorable growth of food & beverages, pharmaceutical, and personal care industries globally, presents a high growth opportunity for manufacturers in the tube packaging market. According to the International Trade Association report, the global market for pharmaceuticals is expected to reach US$ 1.3 trillion by the end of 2020. Total sales of pharmaceuticals in the U.S. were US$ 333 billion in 2015, which was triple the size of sale in China. Total exports in the U.S. personal care and cosmetics market amounted to US$ 10.4 billion in 2015 and grew at an average rate of 15% from 2015 till 2017.

  7. Stringent government regulations regarding tube packaging materials are expected to hamper the tube packaging market growth. However, technology advancements in the packaging industry are predicted to increase demand for tube packaging in the near future. International Standard of Organization (ISO) imposed standards on the packaging. For instance, ISO 18604:2013 specifies the requirements for packaging which are recoverable in the form of material recycling while accommodating the continuing development of both packaging and recovery technologies and sets out procedures for assessment of meeting its requirements. Manufacturers need to meet such standards in order to maintain their product quality and compete in the global market.

  8. Figure 1. Global Tube Packaging Market Share, By Region, 2017

  9. Europe is the fastest growing region and held the largest market share of about 30.0% in 2017, owing to widespread adoption of tube packaging in oral care and cosmetic industries in the region. Availability of wide-range of tube packaging solutions along with rising demand for convenient packaging is projected to fuel the market growth in Europe in the near future. • Furthermore, companies are concentrating on developing new technologies. For instance, in May 2017, World Wide Packaging Inc. launched a groundbreaking tube decorating technology known as Direct Flexo Imaging (DFI), which utilizes high-resolution print imaging. The decoration of tube is an essential feature to attract the customers for personal care products such as cosmetics.

  10. Figure 2. Global Tube Packaging Market Share, By Application, 2017

  11. Players operating in the global tube packaging market are adopting various growth strategies such as mergers & acquisitions and business expansion to cater to increasing demand for tube packaging. For instance, in July 2018, CCL Industries completed the acquisition of Treofan Americas. Treofan Americas manufactures and supplies polypropylene films for packaging, labeling, and specialty film markets and offers to package and label films, coated flexible packaging films, tobacco films, and technical films. • Major players operating in the global tube packaging market include Albea S.A., Amcor Limited, EsselPropack Limited, Sonoco Products Company, World Wide Packaging Inc., Montebello Packaging Inc., VisiPak, Inc., Intrapac International Corporation, and CCL Industries Inc.

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  13. About Us: Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. What we provide: • Customized Market Research Services • Industry Analysis Services • Business Consulting Services • Market Intelligence Services • Long term Engagement Model • Country Specific Analysis

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