The global Tube Packaging Market size is expected to reach USD 15.37 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.0% from 2020 to 2027. Growth in demand for tube packaging solutions can be majorly ascribed to their end-use applicability in the cosmetics, personal care, and oral care industries. High demand for products like sun blocks, anti-tan, anti-ageing creams among middle aged men and women will strengthen market growth in the forecast period.
Plastic
tube packaging accounted for the largest share in the market in 2019 owing to its
low cost, high barrier functionality, ability to retain its shape, and safe
packaging ability. Key end-user companies including Beiersdorf AG, Unilever,
and Johnson & Johnson use plastic tubes packaging for a wide range of
products, including skin creams, shaving creams, shampoos, toothpaste, dental
solutions, ointments, and adhesives.
Tube
packaging is also popular in the healthcare industry, particularly due to its
ability to maintain optimal conditions of the material packaged for a longer
shelf life, along with its ease of use/applicability for consumer. Overlooking
at a global trend, average annual expenditure per household on consumer goods
and pharmaceuticals has been increasing at a high rate, which is further likely
to strengthen the product demand in the projected timeframe.
Laminated
tube packaging accounted for the largest revenue share of more than 44.0% in
2019 and is highly in demand since its introduction to the tube packaging
industry. It is widely utilized across several application industries,
including personal and oral care, healthcare, and food. This type of packaging
offers the highest level of protection to the contents from spoilage by being
excellent moisture resistant, air resistant, and adaptable to innovative caps
and closures.
Rising
consumer demand for efficient and convenient packaging solutions, incorporation
of custom head designs making dispensing easier, improved portability and
usability, and efficiency in terms of squeezing out the last drop of packaged
products are further anticipated to bolster demand for tube packaging in the
projected timeframe.
In
addition, several companies such as Formosa Plastics and Dow are expected to
increase their PE production capacities in the coming years, which is one of
the major raw materials required in the production of tube packaging. Such
expansions are further anticipated to increase the supply of plastics,
thereby having a positive impact on the growth of the market over the forecast
period.
In
December 2019, Huhtamaki Group announced to acquire the entire ownership of its
Brazilian joint venture company named Laminor S.A., which specializes in the
manufacturing of high-quality tube laminates developed primarily for oral care
applications. This is evident of a positive growth in the market during the
forecast period.
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Tube
Packaging Market Report Highlights
- By raw material, the aluminum segment is
expected to expand at the fastest CAGR of 6.5% in terms of revenue during
2020 to 2027. It is a preferred form of packaging for premium cosmetics
and premium skin care and pharmaceutical products
- North America led the market in 2019
owing to a wide range of applications of tube packaging in the
pharmaceutical and personal care industries
- Asia Pacific is anticipated to witness
the fastest growth from 2020 to 2027. The region is estimated to witness
increased demand in future owing to high consumer spending rates and
smaller packaging sizes
- By product, laminated tube packaging
accounted for the largest share in the market in 2019. This is majorly due
to its excellent barrier functionality.
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, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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