Tube packaging is very popular for many products including pharmaceuticals, cosmetics and miscellaneous household products. It is expected to witness high growth as a result of the increase in consumer preference for convenient, safe, and sustainable packaging. Factors such as rapid urbanization & industrialization and increasing demand for small size packs are some of the fueling factors for growth of the market. However, fluctuations of raw material prices acts as a major restraint of the market.
The Tube packaging market is segmented on the basis of product, material and application. On the basis of product, the market is segmented as squeeze tubes, twist tubes, cartridges and others. Squeeze tube segment is expected to grow with the highest CAGR of 6.14% during the forecast period. Squeeze tube segment dominating the market owing to excellent barrier properties and easy to use nature. The tube packaging market was valued at USD 5,634.1 million in 2016, and is expected to reach USD 8,297.7 million by 2022.
The key players of Tube Packaging market includes Amcor Ltd. (Australia), Albea Group (Luxembourg), CCL Industries (Canada), Sonoco Products Company (U.S.), Sinclair & Rush, Inc. (U.S.), Essel Propack Ltd (India), Huhtamaki (Finland), Montebello Packaging (Canada), World Wide Packaging LLC (U.S.), Unette Corporation (U.S.) and others.
Objective of Global Tube Packaging Market Analysis & Forecast, from 2016 to 2022
- To provide detailed analysis of the market structure along with forecast for the next ten years of the various segments and sub-segments included in global tube packaging market with analysis of its development and demand in the market
- Regional and country specific demand and forecast for tube packaging were studied
- Key segments covered in the report are: type, material and application.
- Unit breakdown for all different classification was finalized; and same was referred for forecasting, keeping few assumptions into factor
- For all the regions, forecast demand for all applications were identified and then with historical figure, data collected through primary and annual reports were triangulated to derive the regional market size
- Historical trend is identified to forecast and estimate the future value data
- Raw materials suppliers
- Aftermarket suppliers
- Research institute & education institute
- Potential investors
- Key executive (CEO and COO) and strategy growth manager
- Global tube packaging market is expected to reach USD 8,297.7 Million by 2021.
- By Product, squeeze tube in tube packaging accounts for the largest market share and is growing with approximately 6.14% CAGR during forecast period.
- By material, plastic material in tube packaging accounts for the largest market share and is growing with approximately 6.38% CAGR during forecast period.
- By Application, Personal care segment holds the largest market growing with approximately 6.12% CAGR by the end of forecast period.
- Geographically, Europe region has been projected to have the largest market share in global tube packaging market followed by North America region, while Asia-Pacific region has been projected to show a positive growth rate in tube packaging market.
Regional and Country Analysis of Tube Packaging Market Estimation and Forecast
The global tube packaging market is expected to grow at a promising rate during the forecast period, 2016-2022. Europe is projected to have the largest market in tube packaging market. Growth in pharmaceutical industry, increase in demand from cosmetic industry and innovation in packaging are some of the key factor driving the demand of tube packaging market. Followed by North America region would hold a large share in the market. Asia-Pacific is expected to be the fastest growing region in tube packaging market due to the consumers are now demanding sustainable packaging solutions, fast growing economies.
The reports also cover country level analysis:
- North America
- ·Rest of the Europe
- Asia – Pacific
- ·Rest of Asia-Pacific
- Rest of the World