Global Squeeze Tube Packaging Market - Insights
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. According to International Trade Association report, the worldwide market for pharmaceuticals is expected to reach US$ 1.3 trillion by the end of 2020. Total sales of pharmaceuticals in the U.S. was valued US$ 333 billion in 2015 which was triple the size of sale in China. Total U.S. exports in the personal care and cosmetics totaled at US$ 10.4 billion in 2015. Total U.S. exports in the personal care and cosmetics industry grew at an average rate of 15% between 2012 and 2015.
Advancements in technology are providing new opportunities for players in the packaging industry. To cater to rising demand for quality tubes, manufacturers are focusing on innovation not only in materials, products, and processes but also, in the technology that it uses. For instance, Essel has pioneered SHOT (Super High Output Tubes) technology, which enables the company to produce 500 tubes per minute, which was 60-250 tubes per minute previously.
Government regulations regarding tube packaging material is expected to negatively affect the tube packaging market growth. According to Food And Drug Administration Department of Health and Human Services, code of federal regulations, revised as of April 1, 2017 mentions that, each manufacturer and packer who packages a cosmetic liquid, oral hygiene products or vaginal product for retail sale shall package the product in a tamper-resistant package, if this product is accessible to the public while held for sale.
The global squeeze tube packaging market was pegged at 23.11 billion tubes in 2017 and is expected to register a CAGR of 7.72% in terms of volume, during the forecast period (2018 – 2025) to reach 41.64 billion tubes by 2025.
Figure 1. Global Squeeze Tube Packaging Market Share (%), By Application, 2017
Source: Coherent Market Insights, 2017-18
Oral care products accounted for the largest share in 2017. This is due to changing lifestyle of consumers leading to demand for specialized oral care products and growing concerns regarding oral hygiene. Oral care segment is one of the important segments in fast moving consuming goods (FMCG) industry. For instance, according to International Journal of Research in Finance and Marketing (IJRFM) study on ‘Growth of Personal Care Product Market in India’, India oral care market is expanding at a CAGR of 11.4% from 2012-2017 and CAGR is projected to double by the year 2021.
Europe held the largest share of 30.00% in the global squeeze tube packaging market in 2017 and is expected to maintain its dominance over the forecast period. This is owing to high demand for cosmetics and personal care products in this region. According to Cosmetics Europe-The Personal Care Association, European cosmetics and personal care market is the largest in the world with retail sales price around US$ 90 billion in 2017.
Figure 2. Global Squeeze Tube Packaging Market Share (%), By Region, 2017
Source: Coherent Market Insights, 2017-18
Players operating in the global squeeze tube packaging market are adopting various strategies such as merger and acquisition, new product development to enhance product portfolio, and expand geographic presence. For instance, in June 2016, Amcor Limited acquired Alusa, which is the largest flexible packaging player in South America. It offers broad range of services including film extrusion, flexographic and gravure printing, and lamination and produces flexible packaging for food, personal care, and pet food applications. In 2017, Berry Global Inc. launched high-resilience, scuff-resistant Soft Touch laminate tubes. These innovative tubes were launched to overcome problems of conventional soft touch tubes such as scuff or dirt over time.
Major players operating in the global squeeze tube packaging market includes 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.
Advantages of squeeze tube packaging such as high elasticity and ease of packaging is leading to increasing demand from end-use industries such as personal care, food, and pharmaceutical and this is driving growth of the global squeeze tube packaging market. Squeeze tube packaging manufacturers are focused on developing environment friendly technologies for tubes production. For instance, Albea developed a Greenleaf manufacturing process for laminate tubes that are ultra-light and recyclable which achieves sleeve weight reduction by 17%.
Government regulations on packaging is negatively impacting the market growth. For instance, The Federal Food, Drug, and Cosmetic Act (the Act) mandates the need for adequate information related to packaging materials and in European Union under Regulation 1935/2004, packaging materials must be authorized by the European Food Safety Authority (EFSA) prior to being placed on the market.
Asia Pacific is expected to be the fastest growing squeeze tube packaging market during the forecast period, owing to growing demand for pharmaceutical products such as medicated ointments and creams in China, Japan, South Korea, and India. According to International Trade Association (ITA), China is the second-largest pharmaceuticals market in the world with a total pharmaceuticals sales value of US$ 108 billion in 2015. Key players are adopting strategies such as merger and acquisition for business expansion. For instances, in November 2017, Praxis Packaging acquired Unette corporation to expand its portfolio into liquid, cream, and paste products in tubes, bottles, jars and stick packs.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.
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