Plastic Tube Packaging Market is projected to be worth USD 1.52 billion by 2030, registering a CAGR of 4.9% during the forecast period (2021 - 2030).
The tube packaging is used in varied end-user applications such as creams, ointments, and gels. The cheaper raw material and the lower costs of manufacturing and the improved life expectancy of the material used are some of the factors that are driving the plastic tube packaging industry. Plastic is considered the cheapest raw material in the plastic tube packaging industry. Moreover the utilization of plastic in the various end-user industry such as cosmetic, personal care, and significant other end users or due to the enhanced safety prolonged shelf life, and other significant benefits.
Moreover, the manufacturers are concentrating on producing sustainable packaging and plastic recycling procedures to develop eco-friendly plastic packaging solutions. Such initiatives from the manufacturers are propelling the overall growth of plastic to package in the industry in recent years. The efficient balance between economic and sustainability among the established market players or significantly shifting the overall growth of plastic to packaging in recent years. Moreover, the recycle label materials and compostable plastic materials in the industry or for the people in the plastic tube packaging market growth.
COVID 19 Analysis:
The tube packaging industry was witnessing the highest growth rate even during the pandemic because of the intensive utilization in the Pharmaceutical industry. The demand for ointments and other medical products during the pandemic was pretty higher than usual. Such factors are considered as the primary growth stimulating factors of the plastic tube industry. Unlike other industrial production rates, the production rate of plastic tube packaging has increased significantly during the pandemic.
Also, the demand for the food and beverage industry was increasing during the pandemic, the increasing e-commerce sector and other initiatives concerning the plastic tube packaging industry have stimulated the overall growth of the plastic tube packaging industry.
The rapid growth in the oral care industry and the increasing demand for the oral care and the cosmetics industry are driving the overall growth of the plastic tube packaging industry. Some of the potential benefits such as easier to transport, lightweight, advanced dispensing technologies, effective protection, and so on are driving the overall growth of the plastic tube packaging industry.
The increasing demand of the varied end-user industries such as cosmetics, personal care, healthcare, food, and beverages are propelling the overall growth of the plastic tube packaging industry. The changing preferences and the growing consciousness towards self-grooming and self-care activities are increasing the demand for personal care products. Moreover, the increasing disposable income across the developed countries is also propelling the plastic tube packaging market growth.
The increasing demand for bioproducts and organic products in the cosmetic and personal care products with the higher value is gaining momentum in recent years and is presenting lucrative opportunities for the overall growth of the plastic tube packaging industry.
The increasing utilization of the bioplastics which are manufactured from biomass sources is intensively used in the packaging industry to increase the value of the product. These bioplastics are not harmful to the environment and are degrade easily when dumped into the environment, the usage of bioplastics also increases the value of the product themselves. Such factors are propelling the overall growth of the plastic tube packaging industry. The sugarcane-based bioplastics are intensively used in the packaging industry in the endeavor towards creating environmentally friendly packaging.
Stringent government regulations towards the usage of plastics in the packaging industry are expected to hinder the growth of the plastic tube packaging industry. But the usage of plastics was preferred as they are considered as the cheaper raw material options in the packaging industry. Moreover, the lack of recycling facilities in developed countries is restricting the usage of plastics in the plastic tube packaging industry.
Biodegradable plastics were used in the place of plastics; however, this has significantly increased the manufacturing costs of plastic tube packaging. It has become difficult to meet the profit margin.
Availability of efficient substitutes in the industry such as pouches and sachets which are more convenient while reducing the production costs significantly are considered as the major challenge for the plastic tube packaging market growth.
The advancements in the tube packaging in the dispensing methods and other factors are adding to the costs incurred for the manufacturing. Such factors are increasing the product value and are reducing sales across developing countries.
Cumulative growth analysis:
The market value of the tube packaging industry was at USD 10.72 billion in the year 2020 and it is expected to surpass the market value of over USD 9,601.40 million by the year 2030 while registering a CAGR of over 6.80% during the forecast period. The primary growth stimulating factors include increasing demand for cosmetics, personal care products, and potential features such as convenience, portability, flexibility in dispensing the products. The increasing urbanization and millennial population are inclined towards convenient packaging and prefer plastic tube packaging in every segment.
The efficient dispensing property and the enhanced protection for the product are some of the key features of plastic tube packaging. The tube packaging efficiently eliminates the transfer of oxygen and protects against sunlight, due to which the demand for the tube packaging rapidly increases. The rapid growth of the pharmaceutical industry is also impacting the overall growth of the plastic tube packaging industry.
Value chain analysis:
The demand for laminated tube packaging is rapidly increasing due to the convenient packaging yet efficiency in offering protection. The double later barrier structure enhances the protection against bacterial growth or penetration of sunlight or transfer of oxygen. Such potential features propel the manufacturers, pharmaceutical industry, food industry to utilize plastic tube packaging effectively. Also, the increasing momentum of the dermatology sector drove the overall growth of plastic tube packaging where the sales accounted for over a 110billion in the year 2018 and increases year over year.
Additionally, the technological advancements in the cosmetic industry and the increasing focus to enhance the end-consumer experience by including the brush sponge or pump for enhanced dispensing are some of the factors that are fuelling the overall growth of the plastic tube packaging industry. The increasing population and the increasing emergencies and the demand for medical products are stimulating the overall growth of the plastic tube packaging industry. Especially organic personal care products are trending in recent years with the changing preferences of the end-users. The limited production and the premium costs of these organic products further increase the value of these products. Such factors are considered as the growth-stimulating factors of the plastic tube packaging market growth.
Plastic Tube Packaging Market, By Segment
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Asia Pacific region is expected to witness higher market value in the plastic tube packaging industry; this is due to the factors such as increasing demand for cosmetics, pharmaceutical products, awareness for health, and hygienic products. Moreover, the increasing number of manufacturing sectors across the Asia-pacific region provides the capacity to export to the US. The International Trade Administration has stated that over 20% of the imports to the US countries are from the Asia-pacific region. The production capacity of the Asia-pacific region in the manufacturing of cosmetics is stimulating the overall growth of the plastic tube packaging industry.
Similarly, the demand for healthcare products and self-care products are higher across the Asia-pacific region, oral hygiene is considered as the crucial factor in China which possesses over 1.37 billion population. The increasing number of oral treatments and oral diseases across the region propels the overall growth of the plastic tube packaging industry.
Besides the utilization of plastic tube packaging for toothpaste and hygiene products, China accounts for over 52% of importing scrap to provide the materials to the scrap recycling industries. Such factors emphasize plastic recycling and are expected to expand the overall growth of the plastic tube packaging industry.
In the year 2021, one of the leading market players, Hoffman Neopack AG has launched a lighter plastic tube packaging that utilizes only 30% of the virgin materials. This tube is considered as the novel invention in the environmentally friendly tubes that paves way for the tube packaging industry towards environmentally friendly procedures.
In the year 2018, one of the leading market players, Amcor and SIG packaging industries have partnered to upbuild the overall growth of the plastic tube packaging industry. The collaboration has increased the supply chain and other business processes related to aluminum foil and other raw materials required for the tube packaging industry.
This report has covered:
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|Market Size||USD 9,601.40 million|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type and Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Amcor Ltd. (Australia), Albea Group (Luxembourg), CCL Industries (Canada), Sonoco Products Company (U.S.), Sinclair & Rush, Inc. (U.S.), Essel Propack Ltd (India), Huhtamaki (Finland), Montebello Packaging (Canada), World Wide Packaging LLC (U.S.), Unette Corporation (U.S.) and others.|
|Key Market Opportunities||
|Key Market Drivers||
• Cosmetics • Toiletries • Healthcare & Pharmaceutical • Food • Homecare • Others
• Amcor PLC • Berry Global Inc. • Essel Propack Ltd. • Clariant International Ltd. • Coveris Holdings SA • CPP Global Holdings Ltd. • Essel Propack Ltd. • CCL Industries Inc.
• Twist • Stick • Cartridges • Others
The increasing demand for hygienic and self-care products and the increasing demand for toothpaste across the globe are considered as the major drivers of the plastic tube packaging industry. Similarly, the growth of the cosmetic industry is also considered as the major market driver for the plastic tube packaging industry.