Plastic Tube Packaging Market Size: 2021 Trends, Global Analysis with Focus on Opportunities, Growth Potential & Forecast 2025
Plastic Tube Packaging Market Holds Multiple Growth Prospects
The slender plastic tube packaging that fits perfectly in the palm and the ease at which its content is released induce satisfaction in the end-user. And, high customer satisfaction bestow substantial revenue generation for a business. Packaging, since the industrial revolution has emerged as a lucrative line of profession. With rise in urban migration, the pattern of consumption has changed, and variation in packing has surfaced as an excellent method of marketing.
The type, material, and aesthetics of plastic tube packaging and its benefits and wide range of applications establish its market dynamics. Market Research Future (MRFR), a market research firm that conducted an extensive evaluation of the plastic tube packaging global market. As per MRFR study, the plastic tube packaging market is expected to thrive at 6.02% CAGR by 2023.
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Plastic tubes are fabricated form different materials. Substances with certain set of properties that allow plastic tube as a popular method of packaging. HDPE, LLDPE, and LDPE are different grades of polyethylene, in single and/ or multi layers are used to produce plastic tubes packs for a myriad of applications. The high flexibility and soft feel offered dispensed by LDPE (Low Density Polyethylene), along with its light-weight, can be primarily used in the packaging of personal care products.
Its resistance to moisture absorption delineates rise in its utility in cosmetic packing. HDPE (High Density Polyethylene) has better barrier properties and endorse in pharmaceutical products. The high restoration value of HDPE is observed as a competitive advantage. EVOH (Ethyl Vinyl Alcohol Copolymer) is another material that is serves food and pharmaceutical packaging. Laminate is a sheet that comprises disparate layers emblemises the product, thereby drawing attention of customer.
Pharmaceutical, food and beverage, and especially cosmetics are high end-user of plastic packaging. High sales of cosmetics, expansion of patient population base, and introduction of strategic packaging in the F&B sectors illustrate the rise in need for plastic tube packaging. The evolution of packaging technology underpins the high production capacity of enterprises dealing in plastic tube packages. Plastic tubes are affordable method of casing without slashing on quality.
They allow shape and size versatility, thereby provide the advantage of preference to both the developer and customer. These are major determiners of the plastic tube packaging market. Enterprises can introduce eco-friendly packaging, as plastic types used to manufacture tube packaging are biodegradable and recyclable. This can leverage the growth of the plastic tube packaging market.
MRFR studied the regional progress of the plastic tube packaging market size. The high demand for flexible packaging can boost the expansion of North America plastic tube packaging market. Increase in utility of plastic tube packaging for food and beverage products can improve the momentum of the regional market. Asia Pacific plastic tube packaging can register a substantial CAGR in the forecast period. Europe, reputed for its sublime cosmetic products can support the expansion of the plastic tube packaging market. The rise in outsourcing of packaging activity can bring in substantial business for the global market.
Market Research Analysis:
The development of new and diversified technologies is creating opportunities within the packaging industry. Increasing demand for airless tubes across the globe and the availability of high-quality printing at a low-cost are driving the global plastic tube packaging market growth. Recent market trends show a very high growth rate for the flexible packaging industry, driving the global plastic tube packaging market. Very strict and stringent regulatory rules along with high competition from substitute products are restraining the market. The rapid growth rate of the cosmetics and toiletries market in the developing countries is an attractive investment opportunity in the global tube packaging market. Plastic tube demand in beauty is largely defined by Facial moisturizers and cleansers, toothpaste consumption. While future growth may primarily come from Asia and Latin America where the category expands in line with rising modern retail outlets, pack sizing strategies will be key in driving sales across the globe. Geographically, the global tube packaging market is significantly large in Europe and North America due to increasing per capita income and consumer spending. Moreover, Asia Pacific is expected to be the fastest growing segment.
Key Players
The key players of global plastic tube packaging market includes 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.
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Table Of Contents
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Definition
2.2.2 Research Objective
2.2.3 Assumptions
2.2.4 Limitations
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
About Market Research Future:
Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
Our rapidly expanding market research company is assisted by a competent team of research analysts who provide useful analytics and data on technological and economic developments. Our deemed analysts make industrial visits and collect valuable information from influential market players. Our main goal is to keep our clients informed of new opportunities and challenges in various markets. We offer step-by-step assistance to our valued clients through strategic and consulting services to reach managerial and actionable decisions.
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