Tube Packaging Market Plying for Significant Growth During the Forecast Period

The global tube packaging market size is expected to reach USD 49.7 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.5% over the forecast period. Growing demand for cosmetics and personal care products is likely to create robust demand for the market over the anticipated years.

Increasing demand for convenient packaging, especially in the pharmaceutical industry, due to its efficiency to prevent microbial growth and oxidation of the ointment/cream will propel the growth of the market over the forecast period. For instance, Soframycin, an antibiotic to treat bacterial inflammations, is usually packed in an aluminum tube to give a better control to the user while applying it and also increases the shelf life of the chemical composition of the ointment.

Availability of effective technologies for the manufacturing of plastic, aluminum, and paper tubes based upon the industry/material requirement has contributed to the growth of the market in recent years. Use of tubes as a packaging material helps improve the shelf life of the material by offering larger protection against bacteria and other micro-organisms, thereby augmenting the demand of the material in the global market.

For instance, Fevikwik is a super glue manufactured by Pidilite, which uses an aluminum tube packing of 3 grams for distribution. The aluminum tube can bear the reactiveness of the chemicals present in the glue and hence, is a suitable choice of packaging than any other resources available.

Plastic held a share of 40.2% in 2018 and is expected to witness substantial growth over the forecast period. Plastic is amongst the most used resources for the manufacturing of tubes across various industries. Thus, with the rise in population, a cheaper resource for packaging is necessary on a large scale. This has encouraged many FMCG companies across the globe to package and distribute their products such as toothpaste, face creams, and ketchups by automating their assembly lines for mass production.

Due to growing environmental concerns regarding water and soil pollution, BPA free plastics are used for packaging, which can be recycled with minimum efforts. For instance, MPack Poland provides eco-friendly tubes for packaging to major manufacturers in cosmetics, household chemicals, and pharmaceutical companies in the Europe market.

The pharmaceutical industry that belongs to the healthcare category is also driving the demand for tube packaging, especially for medicines that are used in dermatology. Tube packaging is extensively used for ointments with anti-bacterial, anti-fungal, and anti-inflammatory properties. In 2018, the global pharmaceutical sales were USD 110 billion according to AstraZeneca and hence, the growth of the pharmaceutical sector is expected to augment the demand for tubes and bottles packaging, particularly in this sector.

Europe held the largest market share in 2018. Growing trends in cosmetic and pharmaceutical products and increasing consciousness regarding health and hygiene in this region are driving the tube packaging market, especially in the consumer goods segment. Improving lifestyle and living standards in developing countries like India and China is a major factor for the market growth in these countries.

Key players in the market include Sonoco Products Company, Essel Propack, Visipak, Huhtamaki OYJ, Amcor Limited, Albea Group, Montebello Packaging, Unette Corporation, and Worldwide Packaging. For instance, in March 2018, Amcor and SIG partnered for aluminum sourcing. The collaboration aimed at ensuring the supply chain of aluminum foil meets the statutes of the Aluminum Stewardship Initiative (ASI).

To request a sample copy or view summary of this report, click the link below:
https://www.grandviewresearch.com/industry-analysis/tube-packaging-market

Further key findings from the report suggest:

·       In terms of revenue, North America is projected to reach a value of USD 12.0 billion by 2025

·       By material, plastic held 40.2% share of the total revenue in 2018 and is projected to exhibit significant growth over the coming years

·       APAC is the fastest growing region, expanding at a CAGR of 7.6% over the forecast period. This trend is projected to continue over the forecast period

·       Demand for tube packaging is increasing in U.K., Germany, South Africa, and India due to high domestic consumption, expanding global population, increasing per capita income, and presence of leading manufacturers

·       The tube packaging industry is highly competitive in nature with the major players including Sonoco Products Company, Essel Propack, Visipak, Huhtamaki OYJ, Amcor Limited, and Albea Group.

Grand View Research has segmented the global tube packaging market on the basis of material, application, and region:

Tube Packaging Material Outlook (Revenue, USD Billion, 2015 - 2025)

·         Plastic

·         Aluminum

·         Paper

Tube Packaging Application Outlook (Revenue, USD Billion, 2015 - 2025)

·         Personal Care

·         Healthcare

·         Others

Tube Packaging Regional Outlook (Revenue, USD Billion, 2015 - 2025)

·         North America

·         Europe

·         Asia Pacific

·         Central & South America

·         Middle East & Africa

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com