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Tube Packaging Market CAGR of 6.0% Growth and Forecast by End-use Industry 2028

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Report Description

A recent market intelligence report that is published by Data Insights Partner on the global Tube Packaging Market makes an offering of in-depth analysis of segments and sub-segments in the regional and international Tube Packaging Market. The research also emphasizes on the impact of restraints, drivers, and macro indicators on the regional and global Tube Packaging Market over the short as well as long period of time. A detailed presentation of forecast, trends, and dollar values of global Tube Packaging Market is offered. In accordance with the report, the global Tube Packaging Market is projected to expand by healthy CAGR over the period of forecast.

Market Insight, Drivers, Restraints, Opportunity & Trends of the Market:

Definition

A tube is a void and cylinder-shaped container which acts as a container of watery components. It is squeezable and is applied for packaging. In the process of manufacturing and filling a tube, the either ends of the tube are distinctly treated. One edge of the tube body consists of an oval orifice which comprises the cap or closure of the tube. While the other edge is sealed to prevent leakage after the incorporation of the vicious liquid component. With the aim of providing uniqueness to the packaging, the tube is then labeled, printed and processed for aesthetic pleasure.

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Market Drivers

The primary drive for the tube packaging market arrives from its significant application in the personal care sector. The soaring craze for aesthetic pleasure has widened the application of anti-aging creams, sun block creams and anti-tan packs among men and women of middle-age apart from makeup products. This drives the demand for compact packing that can only be satisfied by tube packaging. The surge in personal care among the global population is constantly growing and reaching new heights owing to the urbanization, changing lifestyle patterns, and improving standard of living. These factors are fueling the growth of this market.

The broadening base of application of tube packaging in the pharmaceutical industry is another factor propelling the growth of this market. This kind of packaging protects the drugs from contamination and shields the drugs from the negative reaction and affects of exterior temperature like moisture and direct sunlight. Polyethylene is most common kind of tube packaging used in this sector on account of its durability, flexibility, feathery properties.

A significant demand of tube packaging comes from the food and beverage sector. Protective vessels are highly demanded in this sector to avoid food contamination and wastage. This is empowering the growth of the tube packaging market.

The convenience associated with the utilization of tube packaging by the consumers is bolstering the growth of this market. They are low priced and highly portable by the consumers and improves the shelf life of the content which is powering the growth of this market.

Market Restraints

The volatile prices of the raw materials used in the production of tubes are negatively affecting the tube packaging market. Plastics like terephthalate and polyethylene are used in the production process and the prices of this products are always fluctuating. Aluminum is used in the production which consists of price fluctuating properties.

The various global, regional and local regulations that the tube packaging market has to face is impeding the growth of this market. The existing trade barriers in this market is hindering the growth of this market.

Further, the utilization of plastics and polymers in the production of tubes cause certain environmental degradation. Moreover, after utilization, these products are not so easy to dump and causes environmental concerns. The Stringent regulations of the government that are aimed at regulating the use of plastic is severely straining the growth of this market.

Opportunities

Although the employment of plastic is hindering the market growth, technological advancement has led to the deployment of bioplastics in tube packaging. This is aimed towards sustainable packaging concerns which is expected to provide lucrative opportunities to this market.

Further, prosperous end use sector namely, the personal care sector, pharmaceutical industry and the food and beverage sector is expected to thrive and grow because it is indispensable part of the human civilization which is likely to create better market for tube packaging in the coming years.

Trends

At present, the North America region dominates the market for tube packaging and is expected to continue its domination. This progress can be traced back to the growth of the personal care and healthcare sector, the presence of medium scale and small-scale manufacturers of tube packages, the urge for lightweight and convenient packaging that assists the production and printing procedure. Europe is also estimated to witness significant growth in the forecast period in this market due to the presence of producers of healthcare and personal care products and the presence of contract manufacturers. As a matter of fact, the Asia Pacific region is estimated to emerge as the fastest growing region in this market in the forecast period. This progress can be attributable to the prospering end use sector in this region and the improvement of standard of living in this region. Globally, this market is projected to grow at a CAGR of 6.0% in the forecast period.

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Segment Covered:

This market intelligence report on the global Tube Packaging Market encompasses market segments based on product type, material type, application and country.

By Product Type the global Tube Packaging Market has been divided into:

q Aluminium Tube

q Extruded Plastic Tube

q Laminated Tube 

By Material Type the global Tube Packaging Market has been divided into: 

q Plastics

q Aluminium

q Bioplastics

q Others

By Application the global Tube Packaging Market has been divided into:

q Consumer Goods

q Food

q Healthcare

q Personal Care and Oral Care

q Others 

By country/region, the global Tube Packaging Market has been divided into:

q North America (the U.S., Canada),

q Latin America (Brazil, Mexico, Argentina and other countries),

q Europe (Germany, France, the U.K., Spain, Italy, Russia, and other countries),

q Asia Pacific (India, Japan, China, Australia and New Zealand and other countries),

q Middle East and Africa (GCC, South Africa, Israel and Other countries).

Profiling of Market Players:

This business intelligence report offers profiling of reputed companies that are operating in the market. Companies such as:

q Silgan Holdings Inc

q Amcor PLC

q Berry Global Group Inc

q Covaries Holdings SA

q Essel Propack Limited

q CCL Industries Inc

q Hoffman Neopac AG

q Romaco Group

q Montebello Packaging

q VisiPak

others have been profiled into detail so as to offer a glimpse of the market leaders. Moreover, parameters such as Tube Packaging Market related investment & spending and developments by major players of the market are tracked in this global report.

Report Highlights:

In-depth analysis of the micro and macro indicators, market trends, and forecasts of demand is offered by this business intelligence report. Furthermore, the report offers a vivid picture of the factors that are steering and restraining the growth of this market across all geographical segments. In addition to that, IGR-Growth Matrix analysis is also provided in the report so as to share insight of the investment areas that new or existing market players can take into consideration. Various analytical tools such as DRO analysis, Porter's five forces analysis has been used in this report to present a clear picture of the market. The study focuses on the present market trends and provides market forecast from the year 2020-2028. Emerging trends that would shape the market demand in the years to come have been highlighted in this report. A competitive analysis in each of the geographical segments gives an insight into market share of the global players.

Few Recent Developments

Silgan Holdings Inc

In January 2020, Silgan Holdings Inc made an announcement of signing deal for the acquisition of Albea’s dispensing business. The contract amount being USD 900 million.

Amcor PLC 

In March 2018, Amcor collaborated with SIG for sourcing of aluminum. The prime objective of the collaboration was the compatibility of aluminum foil supply chain with Aluminum Stewardship Initiative’s statutes.

Berry Global Group, Inc

In February 2018, Clopay Plastic Products Company was acquired by Berry Global Group Inc at an amount of USD 475 million in cash.

Salient Features:

Ø This study offers comprehensive yet detailed analysis of the Tube Packaging Market, size of the market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of forecast: 2020-2028, taking into account 2019 as the base year

Ø It explains upcoming revenue opportunities across various market segments and attractive matrix of investment proposition for the said market

Ø This market intelligence report also offers pivotal insights about various market opportunities, restraints, drivers, competitive market strategies of leading market players, emerging market trends, and regional outlook

Ø Profiling of key market players in the world Tube Packaging Market is done by taking into account various parameters such as company strategies, distribution strategies, product portfolio, financial performance, key developments, geographical presence, and company overview

Ø The data of this report would allow management authorities and marketers of companies alike to take informed decision when it comes to launch of Type of models, government initiatives, marketing tactics and expansion, and technical up gradation

Ø The world market for Tube Packaging caters to the needs of various stakeholders pertaining to this industry, namely suppliers, manufacturers, investors, and distributors for Tube Packaging Market. The research also caters to the rising needs of consulting and research firms, financial analysts, and new market entrants

Ø Research methodologies that have been adopted for the purpose of this study have been clearly elaborated so as to facilitate better understanding of the reports

Ø Reports have been made based on the guidelines as mandated by General Data Protection Regulation

Ø Ample number of examples and case studies have been taken into consideration before coming to a conclusion

Reasons to buy:

v Identify opportunities and plan strategies by having a strong understanding of the investment opportunities in the Tube Packaging Market

v Identification of key factors driving investment opportunities in the Tube Packaging Market

v Facilitate decision-making based on strong historic and forecast data

v Position yourself to gain the maximum advantage of the industry’s growth potential

v Develop strategies based on the latest regulatory events

v Identify key partners and business development avenues

v Respond to your competitors’ business structure, strategy and prospects

v Identify key strengths and weaknesses of important market participants

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