A recent report published by Infinium Global Research on the tube packaging market provides an in-depth analysis of segments and sub-segments in the global as well as regional tube packaging market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional tube packaging market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global tube packaging market. According to the report, the global tube packaging market is projected to grow at a CAGR of 5.62% over the forecast period of 2019-2025.
Innovations in packaging have provided new opportunities for various industries to package and sell their products in different quantities and sizes. By tube packaging, the products are sold in small tubes to use them easily and conveniently. The tube packaging market is highly competitive with a large number of companies in the market competing with each other to retain their position. Many of the key players in the market including Amcor plc, Berry Global, Inc, CCL Industries Inc., Constantia Flexibles Group, Huhtamäki Oyj, Sonoco Products Company are focusing on research and development activities to manufacture products with better functionalities and quality. Mergers and Acquisition strategies are also been observed in the market. Recently, in July 2018 CCL Industries acquired Trefon Americas, which will fulfill the demand of the plastic films for CCL Industries.
The growing demand from the cosmetics and personal care industry for tubes are majorly driving the tube packaging market. Many of the cosmetics and personal care products including face creams, hair gel, shaving cream, skin creams, ointments, toothpaste, and others are all packaged in tubes, which makes them easy to use and convenient to store. Moreover, the superior barrier properties of tube packaging are expanding the growth of the tube packaging market. Furthermore, rapidly growing urbanization, increasing disposable income and changing the lifestyle of consumers are supporting the demand for tube packaging. The products packaged in tubes are used more by the urban population, who try new products in different forms of packaging. However, the strict regulations on the use of plastics due to growing concern regarding the environment are the major restraining factor for the growth of the tube packaging market. Nevertheless, the increasing demand for safe and sustainable packaging is expected to offer lucrative opportunities for the key players in the tube packaging market.
Geographically, Europe generated the highest revenue for tube packaging, dominating the global market. The largest market share of the European region attributed to the increasing innovations in packaging for various verticals including food, personal care, and pharmaceuticals. Moreover, the high urban population, increasing disposable income and the busy lifestyle of the consumers are expected to boost the growth of the tube packaging market in this region.
The report on the global tube packaging market covers segments such as type, material, and application. On the basis of type, the sub-markets include squeeze tubes, twist tubes, and other types. On the basis of material, the sub-markets include plastic, paper, aluminum, and other materials. On the basis of application, the sub-markets include personal care, healthcare and pharmaceutical, food, home-care, and other applications.
The report provides profiles of the companies in the market such as Amcor plc, Berry Global, Inc, CCL Industries Inc., Constantia Flexibles Group, Huhtamäki Oyj, Sonoco Products Company, Essel Propack Ltd, Sinclair & Rush, Inc., Montebello Packaging, World Wide Packaging LLC, and Other Companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the tube packaging market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.