The global squeeze tube packaging market was pegged at 23.11 billion tubes in 2017, according to Squeeze Tube Packaging Market Report, by Material Type (Aluminum, Plastic, and Laminate), by Application (Oral Care, Beauty & Cosmetics, Pharmaceuticals, Food & Beverages, and Others), and by Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa).
The global squeeze tube packaging market is projected to reach 41.64 billion tubes by 2025, exhibiting a CAGR of 7.72% during the forecast period. Squeeze tube packaging is gaining traction globally, owing to factors such as ease of transportation & handling, ecofriendly, and less costly. In addition to this, tube packaging provides greater versatility for manufacturers. According to The Whole Package Company, tubes can be made to hold as little as 3 ml of a specialty cosmetic or as much as 270 ml. Moreover, tubes can be designed with variety of heads and external appearances such as needle point tips, slanted needle point tips, metallic covers, printed and silk screen labels, a metal tip applicator, a brush tip applicator etc. This product versatility improves utility for manufacturers as well as for customers. Thus, multiple advantages offered by squeeze tube packaging is driving the market growth globally. Manufacturers are focusing on developing products that are light in weight and environment friendly. For instance, Albea is focusing on designing, manufacturing, sourcing, selling, and shipping in the most sustainable way possible and has planned to achieve it by 2020. For this, it is focusing on recyclable and ultra-light plastic and laminate tubes, which will reduce carbon footprint. International Standard of Organization (ISO) imposed standards on packaging. For instance, ISO 18604:2013 specifies the requirements for packaging and sets out procedures for assessment of meeting its requirements. Manufacturers need to meet such standards in order to maintain their product quality and compete in the global market. Such regulations in packaging industry are hindering growth of the squeeze tube packaging market globally.
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