Tube Packaging Market to Surpass 71.79 Billion Tubes by 2026 - Coherent Market Insights

Published On : Jan 23, 2019

The global tube packaging market was estimated at 36.00 billion tubes in 2017, according to Tube Packaging Market Report, by Product Type (Squeeze Tubes, Twist Tubes, Extruded Tubes, Cartridges, and Others), by Material Type (Aluminum, Plastic, and Laminated), By Application (Oral Care, Beauty & Cosmetics, Food, Healthcare & Pharmaceuticals, and Adhesives & Sealants), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa), published by Coherent Market Insights.

The global tube packaging market is projected to reach 71.79 billion tubes by 2026, exhibiting a CAGR of 8.1% during the forecast period. The market growth is driven by the growing flexible packaging industry, which in turn, propels demand for flexible packaging segment in the market. In addition to this, the growing demand for convenient packaging, along with the rising adoption of tube packaging in the personal care industry is expected to boost market growth in the near future.

The packaging materials commonly used include plastic, metal, brick cartons, paper, cardboard, and glass. These materials are used in various end-use industries dependent on packaging requirements. For instance, aluminum and tin are used to store food & beverages in cans. This is due to the corrosion resistant properties of these metals, which ensures that the product is not contaminated. Similarly, alcohol is typically stored and sold in glass bottles, as it looks visually appealing and has a longer shelf life than plastic bottles.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/tube-packaging-market-571

Key Trends and Analysis of the Tube Packaging Market:

  • Among product type, squeeze tubes segment accounted for the largest market share of 60.0% in 2017, in the global tube packaging market. Factors such as ease of transportation & easy handling, less costly and eco-friendly nature of squeeze tubes provide greater versatility to manufacturers, in turn, increasing the growth of the tube packaging market during the forecast period.
  • Among applications, oral care segments accounted for the largest share in 2017. Increasing standard of living and changing lifestyle leads to increased demand for specialized oral care products and growing concerns regarding oral hygiene.
  • Stringent government regulations regarding tube packaging materials are expected to hinder the growth of the market during the forecast period. Regulatory authorities such as the Food & Drug Administration (FDA), the European Food Safety Authority (EFSA) have established guidelines for packaging industries. For instance, the Federal Food, Drug, and Cosmetic Act (the Act) mandate the need for adequate information related to packaging materials. Section 501(a) (3) of the Act states that a drug is deemed to be adulterated, ‘if its container is composed, in whole or in part, of any poisonous or deleterious substance, which may render the contents injurious to health’.

Key Takeaways of the Market:

  • Europe held the leading market share of about 30.0% in 2017, in the global tube packaging market on account of the presence of major cosmetic companies such as Avon Cosmetics Ltd., L’Oréal, and The Estée Lauder Companies. In addition to this, the proliferation of popular retail product manufacturers together with rising demand for cosmetics and oral care products in the region is projected to bolster the revenue for the tube packaging industry in the near future.
  • 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 specialty cosmetics or as much as 270 ml. Moreover, tubes can be designed with a variety of heads and external appearances such as needlepoint tips, slanted needlepoint tips, metallic covers, printed and silkscreen labels, a metal tip applicator, and a brush tip applicator. Availability of such product versatility improves the utility for manufacturers as well as for customers.
  • Major players operating in the global tube packaging market include Albea S.A., Amcor Limited, Essel Propack Limited, Sonoco Products Company, World Wide Packaging Inc., Montebello Packaging Inc., VisiPak, Inc., Intrapac International Corporation, and CCL Industries Inc.
  • Manufacturers are focusing on eco-friendly, recyclable, and overall ultra-light design to expand its local and global base. Such activities by key players are creating a conducive environment for the growth of the tube packaging market.

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