Squeeze Tube Packaging Market to Surpass 41.64 billion tubes by 2025 - Coherent Market Insights

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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https://www.coherentmarketinsights.com/market-insight/squeeze-tube-packaging-market-2385

Browse 107 market data tables* and 35 figures* on "Squeeze Tube Packaging market” - Global forecast to 2025.

Key Trends and Analysis of the Squeeze Tube Packaging market:

• Among material type, plastic tubes segment held significant market share in the global squeeze tube packaging market in 2017. Plastic tubes are made from plastic resin, colored, and shaped into the desired form. The tube is then printed, decorated, and fitted with an injected tube head. The extrusion process produces a seamless tube allowing 360° printing and high quality decoration. Plastic tubes are more versatile and more refined than laminate tubes. Compared to laminate tubes, plastic tubes are less oxygen, water, and light resistant and not suitable for certain products.

Key Takeaways of the Market:

• 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. In matured market of Europe, FMCG players are focusing on innovation in several new life-style products in the beauty care and wellness categories. Beauty care products such as anti-ageing creams, complexion correction creams, hair colorants, and cosmetic/ therapeutic toothpastes need vibrant and premium looking tube packaging to stand out in shop shelves, in order to gain competitive edge in the market thereby increasing demand for squeeze packaging in the region. Key players in the tube packaging industry such as Albea Group reported a rise in sale in Europe region from 47% in 2016 to 49% in 2017 in its annual report 2017.
• Major players operating in the global squeeze tube packaging market include 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.