SQUEEZE TUBE PACKAGING MARKET ANALYSIS

Squeeze tubes are collapsible container which are widely used for packaging of toothpaste, adhesive, caulk, creams, paints, ointments, etc. Favorable growth of food & beverages and pharmaceutical & personal care industries globally is driving growth of the tube packaging market.

Global squeeze tube packaging market was valued at US$ 10.47 Bn in 2021 in terms of revenue, exhibiting a CAGR of 6.01 % during the forecast period (2022 to 2030).

Drivers

• The growth of the tube packaging market is highly influenced by the economic growth of industries like cosmetics, pharmaceuticals, toiletries, and food. Customers prefer food that comes in small packages that can be easily stored away in the fridge or carried for work. Food articles like ketchup, sauces that come in smaller tubes are driving the market growth.
• Some of the manufacturers have given access to the customers to directly order the products from their web portal. This has induced the customers to purchase the products more likely, thereby increasing the growth of the market value.
• Tube packaging is widely used for several mainstream industries. The growth of those industries has positively influenced the market growth. The pharmaceutical market valued about 66 billion US$ in the year 2030 and is expected to grow higher in the forecast period. The growth of the pharmaceutical industry will invigorate the market value also.
• COVID 19 has created a long-term impact on every industry including the packing industry. COVID 19 has impacted hugely on the behavior of the customers, how customers choose the products concerning the packaging as the virus might pass on to a person via surface. Considering that the Coronavirus will live on a plastic surface for more than 3 days, customers prefer other kinds of packaging.
• The COVID 19 crisis has influenced the electricity prices, there is a fall in the production of raw materials like aluminum and other metals required for the tube packaging. This has negatively impacted the tube packaging market growth. Due to COVID 19, people care about their health-wise and there has been a constant growth in the pharmaceutical industry. Owing to the increased number of health programs, health campaigns, and health care centers, there have been increasing use of medications globally, this has bolstered the growth of the tube packaging market growth as most of the medicinal creams are delivered in the form of tubes.

Figure 1. Global Squeeze Tube Packaging Market Value Share (%), By Region, 2021

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Market Restraints

• The tube packaging industries revolve around two major raw materials for tube productions. Plastic and aluminum are majorly used for convenience, flexibility and to add aesthetic value. Government regulations and standards are against the excessive usage of plastic, as plastic wastage is creating a major environmental crisis. Producing aluminum requires an enormous amount of electricity which is also a non-renewable resource. Governments urge the tube-packaging industry to find alternative raw materials for the production of tubes.
• Companies are involved in research activities to bring in innovative methods for producing tubes. As tubes are used and thrown onto the ground more frequently; it is crucial to come up with eco-friendly raw materials that do not cause any harm to the environment. European Union directors have instructed the packaging industry to reduce landfill waste by up to 50% in the upcoming years. This prospect can be considered as a key restraint to the tube packaging market growth.
• Biodegradable materials are preferred by customers who are aware of the environmental crisis, however, those materials are on the costlier side and increase the production costs which in turn reduces the profit margin.

Market Trends

• Plastic is a prominent material used in tube packaging, due to its low cost, lightweight, flexibility, durability, and other factors. In addition, it is odorless and offers a pleasant appearance.
• The usage of plastic tubes in various industries that include cosmetic and personal care, food, and pharmaceutical, among others, leads to fewer transportation costs and energy waste. This type of packaging also ensures product safety and prolongs shelf life.
• As convenience and hygiene are gaining importance across regions, the demand for plastic tubes is propelling, specifically in the cosmetic industry
• Nevertheless, sustainable packaging has ensured significant amounts of plastic recycling and innovations in material technology that have enabled the development of environment-friendly plastic packaging solutions. Further, to strike a balance between better economics and sustainability, major players are shifting to recyclable packaging by using reusable and compostable plastic material.
• The European Union (EU) and the American Chemical Council’s Plastics Division recently announced the target of 100% use of recyclable, reusable and compostable plastics by 2025 and 2040 in their regions. These regulations are expected to shape the plastic tube packaging industry in the future.
• However, over the last decade, the environmental impacts of plastic have resulted in a slowdown of the segment.

Figure 2. Global Squeeze Tube Packaging Market value Share (%), By Application, 2021

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Recent Developments

• In February 2021, Hoffman Neopack AG introduced a lighter plastic tube solution that uses up to 30% fewer virgin materials. This tube is the newest addition to the company’s EcoDesign series of environmentally friendly tubes. It aligns with the packaging industry’s vision to reduce carbon footprint and materials waste.
• In January 2020, Albea Group has started construction of a new facility in Huai’an, Jiangsu province, north of shanghai, China. The expansion will include the production of new injection, decoration and assembly equipment to satisfy the increasing demand from both domestic and foreign beauty brands.
• In December 2020, Huhtamaki Oyj acquired Laminor S.A. (Brazil). This acquisition will help Huhtamaki Oyj to expand the tube lamination business.

Competitive Section

Major players operating in the global squeeze tube packaging market include Amcor Limited, Essel Propack Limited, Albea S.A., Huhtamaki OYJ, Berry Global Inc., Intrapac International Corporation, Montebello Packaging Inc., and Worldwide Packaging Inc., among others.