ID: MRFR/PNT/1244-CR | October 2020 | Region: Global | 117 pages
Tube packaging market is expected to reach USD 8,297.7 million by the end of the forecasted period at a CAGR of 5.79%.
Tube packaging is one of the early ways of packing condiments or viscous liquids such as toothpaste, paints, adhesives, ointments, edible sauces, and cosmetics. They have traveled through the history of packaging and are expected to grow in the market for their attractive properties. Tube packaging is more convenient, prolongs the shelf life of the content, flexibility, precise dispensing of product, and additional protection that it provides from microorganisms, oxygen, or sunlight. Over the years, tube packaging is gaining immense appreciation in the flexible packaging market as people are cognitive of being hygienic in every which way.
In major developing countries, the growing demand for the small portion food consumption, rise in urbanization, and lifestyle change have a greater impact on adopting products that come in pleasing packaging. Demand growth of the product is affected by the packaging method utilized. Thereby we can expect a rise in Tube packaging Market size in the forecast period.
COVID 19 Analysis:
COVID 19 has created a long-term impact on every industry including the packing industry. COVID 19 has impacted hugely on the behavior of the customers, how customers choose the products concerning the packaging as the virus might pass on to a person via surface. Considering that the Coronavirus will live on a plastic surface for more than 3 days, customers prefer other kinds of packaging.
The COVID 19 crisis has influenced the electricity prices, there is a fall in the production of raw materials like aluminum and other metals required for the tube packaging. This has negatively impacted the tube packaging market growth.
Due to COVID 19, people care about their health-wise and there has been a constant growth in the pharmaceutical industry. Owing to the increased number of health programs, health campaigns, and health care centers, there have been increasing use of medications globally, this has bolstered the growth of the Tube Packaging market growth as most of the medicinal creams are delivered in the form of tubes.
There is a high chance of new players entering the market, hence key players handle strategies to sustain their market value. There are several key market players in the tube packaging industry, some of them are listed below:
Starch, cellulose, Poly Lactic acid, Polycaprolactone are some of the biodegradable polymers used as raw materials in the packing industries. As the plastics leave a large carbon print, European countries are constantly looking forward to finding biodegradable solutions to upgrade the tube packaging market value.
There are a few technologies that aid the growth of the market. Manufacturers prefer to layer the tubes so that the inner layer does not react with the product inside the tube. See-through tubes are manufactured for the cosmetic range as they add aesthetic value to the packaging.
Key Market drivers:
The growth of the tube packaging market is highly influenced by the economic growth of industries like cosmetics, pharmaceuticals, toiletries, and food. Customers prefer food that comes in small packages that can be easily stored away in the fridge or carried for work. Food articles like ketchup, sauces that come in smaller tubes are driving the market growth.
Some of the manufacturers have given access to the customers to directly order the products from their web portal. This has induced the customers to purchase the products more likely, thereby increasing the growth of the market value.
Tube packaging is widely used for several mainstream industries. The growth of those industries has positively influenced the market growth. The pharmaceutical industry has grown higher in the past few decades. The pharmaceutical market valued about 110 billion USD in the year 2018 and is expected to grow higher in the forecast period. The growth of the pharmaceutical industry will invigorate the market value also.
Key market restraints:
Countries are looking for a sustainable packaging solution as tubes majorly utilize plastics and metals for their production. In addition to that, there has been a series of fluctuations in the prices of the raw materials used for the production of tube packaging. They are the key challenges that hinder the growth of tube packaging market value.
About 40% of plastic production is utilized for the packaging and they are thorn away after use. As there are a lot of constraints evolved around plastic re-usability, it has affected the tube packing market also.
The availability of other packing methods is the major competitor for the tube packaging industry, sachets, pouches, jars are preferred by travelers. However, the market admits that tube packages are the most convenient for presenting the product to the customers or end-users.
Cumulative growth analysis:
There is a robust demand for the tube packaging market due to the rise in demand for drugs, emergency aids, PPE manufacturers. The invasion of solvent-free tube packaging and less technology in tube packing has bolstered the growth of the market value. Lamination tube packaging is valued at USD 2137.2 million in the year 2020 and is expected to continue to rise in the upcoming years. It has been estimated that by the year 2027, the market rate would reach USD 2997.5 million.
The LDPE and HDPE tubes have increased the growth rate of the market which has characteristics similar to that of PE tubes. However, they are made of sugarcane bioplastic and leave a comparably lesser carbon footprint to the environment.
Value chain analysis:
The tube packaging comes under the flexible packing industry, which is considered to be the second-largest packing sector in the US. The US and other developed countries have planned to invest higher in the flexible packaging sector, due to its varied advantages. The tube packaging market value is expected to grow about 6.2% CAGR from the year 2021 to 2028.
Asia-pacific countries are likely to boost the demand for tube-packaging market value. The Asian countries are largely utilizing cosmetic products and they are the major exporters of cosmetic products to the US. The International Trade Administration stated that about 20% of the cosmetics are imported to the US from Asian countries. The increasing oral health hazard has created a great impact on the production of oral products in China. Oral products including toothpaste majorly utilize tube packaging.
The Tube packaging market can be segmented as follows:
By Tube Material:
In the year 2020, it was noted that North America has dominated the market revenue share and is expected to continue the leading position in the forecast period. As there is growth in the production of cosmetics in Asian countries, we can positively expect a rise in the tube packaging market size in Asian countries.
Growth in the population also plays a major role in driving the demand for the market, hence countries like India, China, and South Korea are emerging as production hubs of tube packaging in the global markets.
European countries are innovative in bringing novel techniques into the packaging industries hence driving the market. They have recently produced biodegradable and renewable packaging methods alternative to plastic materials.
This report has covered the revenue growth globally but also at local and regional levels. The report includes:
The market structure can be parted based on the material used for the production of the tubes and the types of the tubes.
Based on type:
Based on Material:
|Market Size||2023: USD 8,297.7 million|
|CAGR||5.79% CAGR (2020-2027)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Material, Product, 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.), and Unette Corporation (U.S.)|
|Key Market Opportunities||
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The market growth rate in the years ahead can be 5.79%.
The global market CAN cross a valuation of USD 8,297.7 million by 2023.
The notable vendors in the market are World Wide Packaging LLC (U.S.), Unette Corporation (U.S.), CCL Industries (Canada), Sonoco Products Company (U.S.), Huhtamaki (Finland), Essel Propack Ltd (India), Amcor Ltd. (Australia), Albea Group (Luxembourg), Montebello Packaging (Canada), Sinclair & Rush, Inc. (U.S.), and others.
APAC shows the potential of achieving the highest growth rate in the near future.
Europe is known for its knack of innovating food, personal care, pharmaceutical and oral care industries with respect to design as well as packaging, which favors the market growth in the region. Hectic lifestyles combined with the expanding working population induces growth of the tube packaging market in Europe.
The prime market restraints covered in the MRFR report include ban on certain raw materials as well as the use of plastic in various regions across the globe.
The market segments, with regard to product are Twist tubes, Squeeze tubes, and others.