Tube Packaging Market Production and Revenue Analysis Report By 2025
The global tube packaging market is anticipated to reach USD 49.7 billion by the end 2025. 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.
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.
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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.
Nowadays, manufacturers prefer biodegradable and recyclable plastic for manufacturing tubes owing to rising awareness about soil and water pollution. For example, MPack Poland is the European company that offers environment-friendly packaging tubes to leading manufacturers in household chemicals, pharmaceuticals, and cosmetic companies in the regional market.
The healthcare application segment is predicted to grow at the fastest the fastest rate from 2019 to 2025. Pharmaceutical products especially in dermatology are generally packed in tubes. Ointments/creams with anti-inflammatory, anti-bacterial, and anti-fungal properties are extensively packed in tubes. For example, AstraZeneca reported that sales of pharmaceutical products across the globe accounted for USD 110 billion. Therefore, growing pharmaceutical and healthcare industry is the major factor anticipated to drive the demand for tube packaging over the forecast period.
In 2018, Europe dominated the tube packaging market, which accounted for the largest market share of 35%. Rising awareness about health and sanitation and availability of innovative pharmaceutical and cosmetic products are some of the factors expected to drive the growth in regional market. Enhanced standard of living and rising disposable income levels are the major factors anticipated to proliferate the growth in emerging economies like China and India.
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.
Table of Contents:-
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Tube Packaging Market: Market Variables, Trends & Scope
Chapter 4 Tube Packaging Market: Product Estimates & Trend Analysis
Chapter 5 Tube Packaging Market: Application Estimates & Trend Analysis
Chapter 6 Tube Packaging Market: End-use Estimates & Trend Analysis
Chapter 7 Tube Packaging Market: Industrial End-use Estimates & Trend Analysis
Chapter 8 Tube Packaging Market: Regional Estimates & Trend Analysis
Chapter 9 Competitive Landscape
Chapter 10 Tube Packaging Market: Manufacturers Company Profiles
Top Key Players of Global Tube Packaging Market :
Essel Propack, Sonoco Products Company, Huhtamaki OYJ, Visipak, Amcor Limited, Montebello Packaging, Albea Group, Worldwide Packaging, and Unette.
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